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Breaking news and real-time updates from the ASX small-cap market
Weekly Wrap: Market Higher For A Second Week
Australian shares were up slightly for a second week on Friday with investors hoping for an interest rate cut in the US, even as the chances of a local cut have evaporated. With the US Fed and the local Reserve Bank both meeting this week to decide on official interest rates, there are still strong hopes the US will cut rate even though still strong Australian inflation have greatly reduced the chances of any cut here.
Weekly Wrap: Australia and the US diverge over interest rates
The past week has been quite a significant one as it became clear that the US and Australia were diverging in a significant way. Here in Australia the ongoing upward trend in inflation made it clear that there is now little hope of an interest rate cut.
Weekly wrap: Harsh day on ASX wipes off $40 billion
Another bruising day on the Australian share market on Friday saw it shed almost $40 billion and sink to a six-month low as hopes for US rate cuts once again diminished. The ASX 200 dropped by 136.20 points, or 1.6%, to 8416.50 points as AI worries in the US transferred directly to our market.
Wrap: Four months of gains wiped out in $37 billion rout
A combination of increasing doubts about interest rate cuts, worries about AI overvaluation and a share crunch on Wall Street combined to strip four months of growth off the Australian share market.
Weekly Wrap: Is this the end of rate cuts? ASX tumbles as banks slide
Some heavy losses in the banking sector saw the Australian share market record its second consecutive weekly loss as the prospect of no further interest rate falls began to sink in. With the Reserve Bank deciding to hold the cash rate steady during the week the ASX 200 index dropped 58.6 points, or 0.7% on Friday to 8769.7 points. It was an uneven and concentrated fall with six out of the 11 sectors remaining in positive territory but the index still fell 1% for the week.
Market Wrap: Gold miners lose the tug of war with Consumer Stocks
A tug of war between rising gold miners and a souring consumer sector saw the Australian share market end the week basically flat on Friday. By the close the ASX 200 had fallen just 3.6 points or less than 0.1% to 8881.9 points, although the index had fallen 1.7% for the week. A fairly negative lead in from Wall Street didn’t help with shares in Facebook parent Meta falling, dragging down the rest of the magnificent seven mega-cap technology stocks and causing all three major US indices to drop.
Cizzle Brands reports $5.64m in net sales for first half of FY25
Cizzle Brands Corporation (CBOE: CZZL) has reported over $5.64 million in net sales for the six months to the end of January, with a gross profit margin of 60.03% and a gross profit of more than $3.38m. The earnings, which capped off the first half of Cizzle Brands’ inaugural fiscal year as a public company, […]
Fraser Institute says fracking bans costing billions in Nova Scotia and New Brunswick
Canada’s Fraser Institute says bans on hydraulic fracturing have led to billions of dollars’ worth of shale gas potential in both Nova Scotia and New Brunswick going undeveloped. In a new report, the independent public policy think tank says the shale gas reserves have a potential long-term market value of between C$47b and C$190b. Kenneth […]
Oil prices fall as OPEC+ sticks to voluntary production hike timeline
The eight OPEC+ countries that previously announced additional voluntary production adjustments in April and November 2023 have agreed to move ahead with planned output hikes, starting in April. The decision came as a surprise to some commentators, with market consensus suggesting the group would postpone the restart as they had done three times since the […]
Canada extends mineral exploration tax credit to support early-stage development
Canada’s minister for Natural Resources has confirmed that the government is extending its 15% mineral exploration tax credit by two years. Speaking at the annual Prospectors & Developers Association of Canada (PDAC) convention in Toronto, Minister Jonathan Wilkinson said the tax credit tax credit is expected to create approximately $780 million in flow-through share investment […]
TNR Gold Corp welcomes McEwen Mining’s submission of Loz Azules copper project for Argentinian investment incentives
North American producer McEwen Mining (NYSE: MUX) has put forward its US$2.7 billion Los Azules copper project for admission to Argentina’s large investment incentive regime (RIGI), through its subsidiary companies McEwen Copper and Andes Corporación Minera SA. Approximately US$227 million has been committed under the RIGI to complete the project’s feasibility study, conduct additional exploration […]
Patriot Battery Metals identifies significant caesium zones at Shaakichiuwaanaan lithium project
Patriot Battery Metals (TSX: PMET) has used a review of historical drill core assays to identify multiple areas of considerable caesium enrichment at its Shaakichiuwaanaan project in the James Bay region of Quebec, Canada. Due to its increasing role in cancer treatment, atomic clocks, drilling fluids and other applications, TechNavio is forecasting 2.7% compound annual […]