Australian shares are down 0.55 per cent by mid afternoon following a weak Wall Street performance and lower-than-expected November inflation. Mining stocks, especially iron ore giants, dropped 1.4 per cent, while uranium stocks rose due to US interest in domestic supply. Bitcoin also fell by 3.5 per cent following a false SEC tweet.
The November consumer price indicator eased to 4.3 per cent, which may impact the Reserve Bank of Australia's February decision.
Notable stock movements include Alumina surging by 13.5 per cent, Mineral Resources acquiring a 9.97 per cent stake in Kali Metals, and Neometals gaining 14.3 per cent with a $30 million order from Mercedes-Benz. Meanwhile, Worley remains halted amid allegations of illegality and bad faith by an Ecuadorian tribunal.
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18 Dec 2019 - The ASX has been on a rollercoaster ride so far this morning. It is now tracking 0.1% higher at noon. Shares in Oil Search (AX:OSH) have risen today after they reported they expect to start early engineering work in Alaska and a rise in resources. Codan (ASX:CDA) have made a good start to the first four months of the year, with Metal Detection and Communications sales exceeding expectations.
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03 Dec 2019 - The Australian share market looks set to tumble this morning. US President Donald Trump to put tariffs on steel and aluminum exports from Brazil and Argentina. Hannah Hamling will join the Mercury NZ (ASX:MCY) board from 1 February 2020.
24 Mar 2021 - Following a drop from US markets, the ASX looks set to open lower this morning. Iron ore prices rebounded as investors weighed the impact of steel production curbs against longer-term demand for raw materials. Gold declined overnight driven by a higher USD. Westpac (ASX:WBC) NZ to review liquidity risk management.
13 Mar 2020 - The Australian share market opened to a bloodbath this morning dropping 7 per cent within the first 15 minutes of trade. It was a sea of red with not a single stock inside the top 200 trading in the green.
29 Jul 2020 - The Australian share market started to lift steadily after opening in the red at the open on the back of a Wall Street dip amid low consumer confidence in the US, dropping again on the ABS’s announcement that the Consumer Price Index has fallen to the lowest level in history amid the coronavirus pandemic. Downer EDI (ASX:DOW) has secured $324 million in several contracts across the power generation, oil and gas, and industrial sectors.
14 Nov 2023 - The S&P/ASX 200 index rose by 0.66 per cent to reach 6,994.60, driven by robust performances in the energy, mining, gold, and lithium sectors, which benefited from a rebound in commodity prices.
30 Dec 2020 - The ASX closed lower today, 18 points down or 0.3% lower at 6,682. The World Health Organisation has marked the one year anniversary of the Coronavirus pandemic reporting that the worst is yet to come. Afterpay (ASX:APT) shares fell today after a record high on Tuesday. The best performing stock today was the United Malt Group (ASX:UMG).
