BHP Pauses Nickel Mines in Market Downturn
BHP Group (ASX: BHP), the world’s largest miner, has decided to halt operations at its nickel mines in Western Australia. This decision, scheduled to commence in October, is a strategic response to the steep decline in nickel prices coupled with a global surplus of the commodity. This suspension is set to impact BHP’s Nickel West…
ASX 200 & All Ords Gain Strongly – Rally Boosted by Telstra
Australian markets experienced a significant rebound on Tuesday as theASX200 surged by 66.50 points, a boost of 0.86%, to settle at 7,829.70. This upswing effectively wiped out the losses from Monday, indicating a renewed investor confidence across various market sectors. The All Ords ended the day at 8075, up 0.79%. One of the standout performers…
Bapcor Shares (ASX: BAP) Unmoved After Buyout Offer Rejected
In a significant turn of events, Bapcor, the renowned car parts retailer and distributor listed on the Australian Stock Exchange under the code ASX: BAP, has made two critical announcements that are likely to shape the company’s future trajectory. Bapcor has revealed the appointment of a new CEO and Executive Chair, Angus McKay, effective from…
Indonesian Firm MACH Metals Buys Rex Minerals
Indonesia-based MACH Metals Australia (NYSE:MNR) is set to acquire Rex Minerals (ASX: RXM) for A$393 million ($265 million). Rex Minerals currently owns Australia’s largest shovel-ready copper project; this acquisition highlights the significant interest in copper resources aligned with the growing demand attributed to clean technology and expanded electric grids. MACH Metals Australia, which is a…
Goldman Forecasts Uptick in Copper Prices for H2 2024
Goldman Sachs has cast an optimistic light on the future of copper, aluminium, and metallurgical coal, as expressed in its latest commodity market forecasts. Notably, their projections for the second half of 2024 suggest a highly favourable market for copper, with the bank also showing confidence in aluminium and metallurgical coal. According to Goldman Sachs’…
JPMorgan Revises Sims Ltd Shares (ASX: SGM) to Neutral
After experiencing a notable 34% decline since the start of 2024, Sims Ltd share price (ASX: SGM) has seen its status upgrade from Underweight to Neutral by JPMorgan analysts, despite maintaining a constant price target of A$10. Sims Ltd have had a turbulent 52-week period that saw the shares hit a low of A$6.76 and…
Rio Tinto Invests in Zero-Emission Aluminium
Rio Tinto (ASX: RIO), the global mining heavyweight, is pressing forward with an ambitious, environment-friendly initiative that is set to position the company at the forefront of sustainable aluminium production. As the ASX 200 miner’s shares climbed to $120.67, an increase of 1.4%, market sentiment reflected the positive outlook towards the industry’s pivot to greener…
Insurance Australia’s (ASX:IAG) Shares Leap on Reinsurance Protection
Insurance Australia Group (ASX: IAG) share price soared by 7.2% today following the news that the company has secured reinsurance protection through deals with a subsidiary of Berkshire Hathaway and Canada Life Reinsurance. This uptick propelled IAG to the forefront as the top performer in the benchmark ASX 200 index. The reinsurance agreements are significant,…
Fresh From Hitting New Heights, CBA Shares Take A Breather
The Commonwealth Bank of Australia share price (ASX: CBA), fresh from setting new all time highs, takes a dip on the day. After leading into the close of the day 0.9% in the red, the pullback from the new high mark of $128.68 stands a little over 2.2%. The $125 level that had proved to…
BHP Shares (ASX: BHP) Continue To Disappoint YTD
The BHP share price (ASX: BHP) trades down 0.70% today leading into the close, bringing performance for 2024 to an underwhelming -14.86%. In latest news, the ambitious plan set forth by BHP in their decarbonisation update targets a minimum 30% reduction in operational greenhouse gas (GHG) emissions by the fiscal year 2030, referencing the fiscal…
