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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04 March 2021 - The ASX opened lower following losses from Wall Street and is now tracking 0.7% lower at noon. Materials, Healthcare and Consumer Staples dragged on the market while Financials led the gains. Buy now, pay later stocks are trading lower after tech stocks fell on Wall Street. Accounting software company Xero (ASX:XRO) is trading 2.4% lower after plans to acquire workforce management platform Planday were announced for $284.5 million. All four banks are performing well with...
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12 Sep 2022 - US equities were higher in Friday trading, finishing just off best levels. Each of the major averages were up more than 2.5 per cent for the week and snapped a big three-week losing streak during which S&P lost nearly 8.5 per cent. This week, data wise we have the US Consumer price Index for August on Tuesday and the Producer Price Index a day later, along with US retail sales.
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