ASX 200 Bears Down; Materials and REITs Slide
On Tuesday, the S&P/ASX 200 Index endured a sharp descent, exhibiting a significant 1.33% decrease to rest at 7,755.4 points. This downturn marks a pessimistic onset of the trading week for the Australian stock market. Reflecting deeper market turmoil, the All Ordinaries Gold Index encountered a steep 5.46% fall, indicating particular vulnerability in the precious…
Rio Tinto Expands Control Over Boyne Smelters
In a strategic move to bolster its holdings in the aluminium industry, mining giant Rio Tinto (ASX:RIO) has announced the acquisition of Mitsubishi Corp’s (TYO: 8058) 11.65% stake in Boyne Smelters. This deal will increase Rio Tinto’s interest in the entity to a commanding 73.5%. Boyne Smelters is the owner and operator of the Boyne…
Medibank Shares (ASX:MPL) Dip, What Does The Data Say?
Medibank Private share price (ASX:MPL) has come off a difficult day, losing 1.85% on Tuesday. The stock has been spending most of it’s time trading in a range between $3.40 and $3.70 per share, and the last 12 month performance of 3.05% does little to set hearts racing. The prominent health insurance provider in Australia,…
Bisalloy Steel (ASX:BIS) Shares Up More Than 100% in 12 Months
The shares of Bisalloy Steel Group Limited (ASX:BIS), a specialist manufacturer of high-tensile and abrasion-resistant quenched and tempered steel plate, have soared by an impressive 79.49% over the past six months. This significant upsurge raises an important question among investors: are the company’s recent stock market achievements reflective of its robust fundamental performance? A deeper…
ASX 200 & All Ords Make Solid Gains – Closing In On 52 Wk Highs
The Australian stock market showed a positive trend at the market’s close on Monday. The ASX 200 ended the day on a higher note with a gain of 0.49% as the All Ords ended above 8,100, up 0.48%. This uptick in the key index is a sign of investor confidence in a variety of sectors…
Renewable Push: RBM Secures Wind Energy PPA (ASX: RIO)
Richards Bay Minerals (RBM), a Rio Tinto (ASX: RIO) company, has embarked on a significant stride towards renewable energy by inking a 20-year power purchase agreement (PPA) with a new 140-MW wind farm in South Africa. The milestone agreement will aid RBM in powering its mining operations while reducing carbon emissions. The wind farm, known…
IAG Shares (ASX:IAG) Dip As Firm Is Hit with Class Action Lawsuit
Insurance Australia Group (IAG), one of the leading insurance companies, is facing a significant class action lawsuit filed by Slater and Gordon lawyers. The legal action has been initiated over allegations that the insurer engaged in misleading, deceptive, and unconscionable conduct. IAG shares (ASX:IAG) dropped 3.12% today as the stock price descends from the 52…
Xero Shares (ASX: XRO) Up Big Thursday on Stellar Earnings Report
In a significant development for Australian stocks, Xero Limited (ASX: XRO), a prominent player in cloud-based accounting software, has witnessed its shares climb 8.74% following the disclosure of its FY24 earnings. The company’s impressive performance was highlighted by a 75% increase in adjusted EBITDA, reaching NZ$527 million, coupled with a noteworthy 22% rise in revenue…
IC Markets Integrates With TipRanks for Enhanced Research Tools
IC Markets, one of the world’s largest Forex CFD providers, has partnered with TipRanks, a premier provider of investment research tools. This partnership is aimed at enhancing investment and trading research capabilities for IC Markets’ clients, providing them access to TipRank’s sophisticated tools. Aligned with IC Markets’ 16-year commitment to making trading more accessible to…
BHP Teams Up with Kingsrose for Nordic Exploration
Kingrose Mining share price (ASX: KRM) added more than 20% in trading on Wednesday as news of a partnership with BHP emerges. BHP (ASX: BHP), one of the world’s leading multinational mining companies, and Australian junior miner Kingsrose Mining (ASX: KRM) have announced a significant alliance as the two companies publicized the signing of two…
