Wesfarmers Shares Continue Upward as Leadership Shuffle Announced
Wesfarmers shares (ASX: WES) continue on an upward path, gaining 1.32% on the day to bring the cumulative 1 month return to 11.84%. Now with WES looking intent to retest the 52 week highs of $77.20 set back in August, a leadership reshuffle is looming. The firm recently announced significant changes in its leadership structure,…
Northern Star Resources Share Price Target Trimmed
Northern Star Resources shares (ASX: NST) are coming off a 5 day decline of 8.03%, having earlier set about looking to retest the $18 level. With the second attempt to pass this resistance failing, the focus moves back to fundamentals after a recent buyback reduced the float. In other news, RBC Capital Markets cut it’s…
Allianz Australia Finalizes A$642 Million Deal with RAA
Allianz Australia has entered into a significant partnership with the Royal Automobile Association of South Australia (RAA) through a transaction valued at A$642 million (US$416 million). This strategic move involves the purchase of RAA’s general insurance business and secures an exclusive 20-year distribution agreement, focusing on home and motor insurance products. Allianz Global shares in…
COSOL Shares Gain (COS) as Toustone Acquired for $22.4 Million
COSOL shares (ASX:COS) gained 5.73% in trading today, as the company announced its acquisition of Toustone Pty Ltd, a data analytics company based in Australia, for an amount of up to $22.4 million. This strategic move underlines COSOL’s intent to amplify its capabilities in asset management and data analytics and moves the share price green…
ANZ Forecasts Rate Hike Delay to 2025
ANZ Bank (ASX: ANZ) has made a significant shift in its interest rate forecast, now indicating that the Reserve Bank of Australia (RBA) may not lower interest rates until May 2025. This adjustment brings ANZ’s prediction in line with its peers among the nation’s largest banks, including the National Australia Bank and Westpac, presenting a…
All Ords, & ASX 200 Hits New High
The Aussie share market set new benchmarks today, reaching an all-time high on both the ASX 200, and the All Ords, as gains in the healthcare and finance sectors bolstered investor sentiment. The ASX 200 Index added 0.45%, finishing the day at 8444.3 points, as the All Ords closed out exactly at 8,700 for a…
CBA Shares Pull Back From Highs as Price Discovery Continues
The Commonwealth Bank of Australia share price (ASX: CBA) pulled back 3.55% today, having initially failed to hold the break above $160. With CBA coming off new all-time-highs, a period of price discovery can be healthy, and can often take place around psychologically relevant levels. The rounded $160 number seems to be where the next…
WiseTech Shares (WTC) Pull Back From Highs on Disappointing Guidance
WiseTech Global shares (ASX: WTC) have taken a rare pullback from the recent uptrend today, as the WTC price fell by 12.37%. This decline followed the release of the company’s less-than-expected future revenue and earnings outlook during its Annual General Meeting (AGM), and comes hot on the heels of a recent new 52 week high….
South32’s Production Results for Q1 Come In Mixed
South32’s share price (ASX: S32) dipped slightly today, losing 0.27%, after a bullish month of trading saw 15.31% in gains for the stock. The metals and mining company has reported its production outcomes for the first quarter ending September 2024 in what reflects a mixed display of both strides and struggles across its varied commodities…
BHP Shares Dip Despite Boosting Iron Ore and Copper Output
Global mining giant BHP (ASX: BHP) has delivered a robust performance in the first quarter of the current fiscal year by exceeding iron ore output estimates and recording an uptick in copper production. The company’s successful increase in production is particularly attributable to the optimization of its operations and strategic investments in key areas of…
