Shares on the ASX were higher early but closed lower, as the RBA decision to keep the cash rate at a record low had little impact on investors.
Deals among cashed-up mining companies are poised to pick up once lingering uncertainties from the pandemic dissipate, according to the most-active investment bank in the industry.
James Attwood and Joe Deaux
Shares in Liontown Resources surged to an all-time high after the company reported wide gold intersections from recent drilling at its Moora project.
Governor Philip Lowe says the economic recovery is well under way and has been stronger than was earlier expected.
Australian Potash is the latest aspiring potash player to secure a big lick of cash from the Federal Government to fund its Lake Wells project near Laverton.
Australia’s pension pot exceeded $3 trillion in assets in December, aided by the rebound in global stocks as tech shares rallied and COVID-19 vaccines were rolled out.
The talks follow a move by Credit Suisse to freeze funds that it ran with help from the financier, citing ‘considerable uncertainty’ about the valuations of some of the holdings.
Lucca de Paoli and Giles Turner
Minerals drilling group DDH1 has closed its $150 million initial public offering ahead of its listing on the Australian Securities Exchange this month.
But the analyst says gold prices could remain supported over March and April as inflation likely picks up and could rise faster than bond yields.
Investors enjoyed their best ASX session since November while Reserve Bank officials intensified efforts to keep bond yields and borrowing costs down.
Ratings agency Moody’s has added to Crown Resorts’ woes, cutting its issuer rating to Baa3 — just one notch above junk status — and revising its outlook to negative.
The prominent Perth businessman says his decision was made in the best interests of Crown and shareholders, despite a NSW probe making no findings against ‘my integrity or performance’.
Daniel Newell and Josh Zimmerman
Singapore-based company 3D Metalforge is set to list on the ASX tomorrow in a bid to tap WA’s booming mining industry.
Crown Resorts is under investigation by the Fair Work Ombudsman for underpaying hundreds of its workers.
MSCI's benchmark for global equity markets slid 1.61 per cent to 656.29 despite its large weighting to the US tech heavyweights.
Japanese shares have slumped after a spike in global bond yields spooked investors already uneasy about the market's stretched valuation.
Hideyuki Sano and Stanley White
Australia’s share market has had its heaviest percentage fall since early September after steep losses on Wall Street.
The rare earths miner is the latest company to repay the JobKeeper wage subsidy for its staff after posting a bigger-than-expected profit.
Kogan has been a massive beneficiary of the online shopping boom, breaking Black Friday sales records and declaring its highest shareholder payout.
Rebecca Le May
The debt recovery company believes conditions are on the improve as lenders resume sales of consumer debt.
The WA company says costly, time-consuming crew changes because of the virus, and the docking of one of its vessels contributed to a bigger interim loss.
Harvey Norman has been a massive beneficiary of the ongoing, pandemic-induced home sprucing trend, and another thing bodes well for its future.
The Tesla founder had previously pleaded with miners to produce more nickel and late last year was rumoured to be in talks with BHP’s Nickel West about a lucrative supply deal.
Yvonne Yue Li
The shipbuilder has trimmed revenue forecasts amid COVID-related program delays in Australasia, reduced support activities in the US and a soaring Aussie dollar.
© West Australian Newspapers Limited 2020