Excerpt: “ASX faced a downturn led by commodity stocks. Nick Scali Ltd and Nickel Industries Ltd experienced significant declines, reflecting broader market volatility.
Despite exceeding analysts’ revenue forecasts, Nvidia’s latest report underwhelmed investors betting on a significant AI boom, leading to a cautious reaction in the stock value.
The Australian sharemarket rose, led by mining stocks amid China’s stimulus, while US equities rallied following Microsoft’s record high and anticipation of Nvidia’s earnings.
Oil markets exhibit stability in anticipation of the upcoming OPEC+ meeting, with investors closely watching for decisions that could shape 2024’s energy landscape.
IPD Group, valued at around $330 million, excels in electrical engineering, focusing on data centres, industrial installations, and EV charging infrastructure. After over five decades as a private entity, it went public in 2021, emphasizing its quality commitment and experienced management team, driving success and growth.
Discover key financial insights with MPC Markets Weekend Investor Newsletter. Expertly curated, it guides investors through global market trends and strategies, fostering informed investment decisions. Subscribe now.
ASX ends the week flat amidst mixed performances: Mining sector gains led by gold explorers, while energy stocks fall following a plunge in oil prices.
ASX shows mixed responses as Australian employment figures rise and GrainCorp announces dividends, highlighting diverse market reactions to economic and corporate developments.
GrainCorp’s FY23 earnings showcased robust performance with an EBITDA of $565 million, strong international demand, record FFO results, and strategic UMG stake liquidation.
Australian shares approach a two-month peak, driven by a global rally after the US inflation report hints at potential stabilization in interest rates.
ASX sees a notable rally with mining and banking sectors soaring as investors await crucial US inflation data to gauge future interest rate trends.
Amidst a general ASX downturn driven by energy and bank stock losses, Elders stands out with a notable surge, defying broader market trends.
