Market Overview
ASX 200 Index
Weekly Wrap: Shares fall another 2.6% for the week as conflict worsens
ASX 200 slides 2.6% this week to 8,617 as Iran-Israel conflict lifts oil above $100; NST and SYR plunge, while EOS soars on a Middle East contract.
Weekly Wrap: AI Margin Squeeze Hits Software Peers as ASX Slips, Yet Week Ends Higher
ASX slips 1.4% as AI fears squeeze software margins; yet the week climbs 2.4% on bank strength and gold rebound.
Weekly Wrap: ASX 200 slides 2% as froth indicators deepen global pullback
ASX 200 skids 2% as Bitcoin froth indicators fade and AI concerns weigh on tech and miners; weekly loss 1.8%.
Weekly Wrap: Late pullback slams gold shares
ASX slips 0.7% as late pullback drags gold shares lower on Fed chair speculation; bullion drops ~5% amid rate-hike fears.
Weekly Wrap: A record close and 3.7% month a big thumbs up
ASX 200 finishes at record close, up 3.7% in Feb as BHP profits beat and banks top forecasts; Block rockets on staff cuts; rare-earths rally lifts Lynas/Iluka.
Weekly Wrap: ASX slips on war fears as earnings beat expectations buoy week
War fears nudge ASX 200 lower despite QBE's 21% profit surge; energy gains lift oil names, tech slumps; Guzman sinks below float.
Weekly Wrap: Markets edge as Rio-Glencore talks spark change in mining bid
Rio Tinto slides 6% on Glencore all-stock merger talks; BlueScope up 2% after rejecting a $30 offer. ASX 200 drifts -0.1% as deal news dominates.
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 […]
Anglo American sells nickel assets to MMG as part of strategic refocus
Anglo American has sold its nickel arm for US$500m to a Singapore-based subsidiary of MMG as part of a plan to tighten its business. The company’s nickel business comprises two ferronickel operations in Brazil – Barro Alto and Codemin – and two large greenfield growth projects, Jacaré and Morro Sem Boné. The Barro Alto mine, […]
Barrick Gold’s North American operations help lift Q4 performance
Barrick Gold’s (NYSE: GOLD) North American operations have helped deliver a strong performance in Q4. The North America, Africa and Middle East operations each met their production guidance for the year, while Barrick also advanced the Fourmile project in Nevada. Year-on-year operating cash flow increased by 20% to US$4.49 billion and, driven by stronger earnings, […]
Cameco and Kazatomprom suspend Inkai operations amid regulatory delays, boosting uranium prices
The global uranium price improved after the giant Inkai joint venture operations in Kazakhstan were suspended due to a delay in receiving key government approvals. Canada’s Cameco (40%) confirmed the shutdown of production activity at the JV operation after being informed by partner Kazatomprom (60%) that the in-situ recovery JV failed to receive an extension […]
Jupiter Neurosciences lists on Nasdaq following $11 million IPO
Jupiter Neurosciences (NASDAQ: JUNS) has listed on the Nasdaq following a successful $11 million raise through its initial public offering (IPO). The company offered 2,750,000 shares of common stock at a price of $4.00 per share. Dominari Securities served as the lead underwriter for the offering, with Revere Securities acting as co-manager. Use of IPO […]
Poolbeg Pharma moves closer to granting of patent for POLB 001 to treat multiple diseases
UK biopharmaceutical company Poolbeg Pharma (OTCQB: POLBF) has received a notice of allowance from the US Patent Office in relation to an application for its lead candidate POLB 001 in the treatment of multiple diseases. The notice covers a class of drugs (including POLB 001) for treating hypercytokinaemia (cytokine storm) and for preventing its development […]
Radiopharm Theranostics advances cancer treatment with RAD 301 and RAD 302 developments
Radiopharm Theranostics (ASX: RAD) has welcomed the release of new data identifying a promising pathway for its innovative RAD 301 and RAD 302 oncology developments. Multiple new data covering the RAD 301 and RAD 302 programs were featured at the 2024 European Molecular Imaging Meeting (EMIM) in Portugal this week. RAD 302, which is currently […]
Incannex releases groundbreaking results from psilocybin trial to treat anxiety, moves to Phase 2b FDA trials
Cannabinoid and psychedelic medicine biotechnology company Incannex Healthcare (NASDAQ: IXHL) has announced positive top-line results from its Phase 2 Psi-GAD1 clinical trial of psilocybin for the treatment of generalised anxiety disorder (GAD). The trial of the seven week treatment program was developed by Incannex in partnership with the Clinical Psychedelic Lab at Melbourne’s Monash University […]
Blockmate investee Hivello forms strategic alliances to boost DePIN sector ahead of token launch
Decentralised physical infrastructure networks (DePIN) developer Hivello has partnered with three technology agencies in the lead-up to a token launch in August. The company will work with Dubai-based marketing firm Luna PR, technical growth agency Winn Solutions and blockchain specialist Forgd to help expand its reach to seasoned crypto enthusiasts and newcomers who can seamlessly […]
Perimeter Medical Imaging AI confirms positive outcomes from study of artificial intelligence technology on breast cancer surgeries
A peer-reviewed study on an artificial intelligence technology developed by Perimeter Medical Imaging AI (OTC: PYNKF) has identified positive outcomes for breast cancer surgery. When integrated with wide field optical coherence tomography (WF-OCT), Perimeter’s ImgAssist software has been shown to enhance productivity and decision making in surgery margin assessments. The deep learning model showed high […]
Astera Labs makes Nasdaq debut amid AI boom
Astera Labs (NASDAQ: ALAB) made its Nasdaq debut last month with a market capitalisation of $9.68 billion as it tapped into investor enthusiasm for artificial intelligence. The California-based company sells high-speed data transfer technology for AI computing and other cutting-edge data centre applications. It is the first big technology firm to go public this year […]
Rekor Systems reports 108% revenue increase in first quarter 2023
Global artificial intelligence company Rekor Systems Inc (NASDAQ: REKR) has announced increases across the board for the three month period to end March. The company posted a 108% increase in gross revenues to $6.2 million, reflecting a $3.2 million jump over the March 2022 quarter. Recurring revenue for the period — generated from software as […]
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 […]
Brookside Energy reports strong drilling progress in Anadarko Basin
Brookside Energy (ASX: BRK) reports that strong progress is being made with drilling at the multi-well Flames-Maroons Development Plan (FMDP) in the core of the southern SCOOP Play in the Anadarko Basin in the USA. The company is currently participating in the Iginla well lateral section, which is drilling ahead at a measured depth of […]
Diversified Energy to lift interests in US oil and gas assets
London and New York-listed Diversified Energy Company (NYSE: DEC) has entered into a conditional agreement with Oaktree Capital Management for the strategic acquisition of working interests in a number of operated assets in the Central Region of the US. The US$386 million acquisition will consolidate Diversified’s working interest in its existing operated wells in the […]
Frontier Energy locks-in water supply in critical milestone for Bristol Springs renewable energy project
Frontier Energy (ASX: FHE) has reached a critical milestone after locking-in a binding water supply agreement to underpin green hydrogen production at its Bristol Springs renewable energy project, in Western Australia’s South West. Under the deal with Western Australian Government-owned Water Corporation, Frontier will be able to use up to 1,250 kilolitres of water a […]
Silver Lake to take Endeavor Group private in $13b buyout
Technology investment firm will shell out $13 billion to acquire global sports and entertainment company Endeavor Group Holdings (NYSE: EDR) in what is believed to be the biggest private equity-sponsored buyout in over a decade and the largest ever in the sector. The deal comes three years after Endeavor went public. Endeavor is the majority […]
DraftKings in talks for $195m takeover of PointsBet’s US operations
Sports gambling powerhouse DraftKings (NASDAQ: DKNG) has entered into negotiations with Australian online bookmaker PointsBet Holdings (ASX: PBH) following an indicative takeover offer for PointsBet’s US businesses amounting to $195 million. This move from DraftKings emerged a month post Fanatics Betting and Gaming (FBG) agreeing to acquire the same businesses for a cash offer of […]
Orbit Garant pioneer Pierre Alexandre confirmed in top spot at drilling major
Major Canadian drilling company Orbit Garant (OTC: OBGRF) has confirmed the permanent appointment of Pierre Alexandre as its president and chief executive officer – a role he has been filling on an interim basis since last November. Mr Alexandre has a long history in the drilling business and now helms Orbit Garant, which has 216 […]
Ritchie Bros makes play worth $7.3b for IAA, share price plummets
Canada’s Ritchie Bros Auctioneers (NYSE: RBA) has agreed to buy US-based vehicle marketplace Insurance Auto Auctions (IAA), in a deal worth around US$7.3 billion. The multi-billion dollar deal will expand Ritchie Bros’ presence in the growing market of heavy machinery and equipment, salvaged cars, trucks and motorcycles, as well as auto parts. Ritchie Bro’s share […]
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