CC Capital trumps Bain takeover bid for Insignia. Infratil flags more CDC support as debt costs weigh on valuation. Shares in Goodman, Nine up after notable investor moves. Whyalla Steelworks restarts with unresolved issues.
The local bourse closed the week on an upbeat note, boosted by uranium and oil stocks as the major miners declined.
The local sharemarket has turned up in thin holiday trade, with gains broadbased, despite a fresh post-pandemic low for the Aussie dollar.
Domestic shares closed higher after the release of minutes from the RBA’s last meeting for 2024, which received some support from the IMF overnight. SBM hit with PNG tax bill.
The UN-linked agency has warned against expansionary government policies that could thwart the RBA’s management of ‘the final descent of inflation to target’ as external challenges loom.
The sharemarket closed 1.7 per cent higher, with gains across the board, led by the heavyweight financial sector. News Corp found strong support after its mega $3.4bn Foxtel deal.
Utilities, energy stocks the only bright spots as index falls to three-month low. CBA tops large-cap declines. Mesoblast down on profit-taking. Japan’s Nippon Sanso to buy Wesfarmers’ Coregas.
The ASX 200 suffered its worst day in three months, as investors dumped tech, bank and mining stocks. The Australian dollar also hit a two-year low after big falls on Wall Street following the Federal Reserve’s weak rates outlook.
Financial regulator targets crypto giant over alleged customer fails. Insignia rejects Bain bid. Chalmers’ spending plans to challenge RBA fight. ANZ facing more regulatory scrutiny. Aus economy in ‘reasonable shape’: NAB CEO.
Data#3 down after flagging Microsoft hit. PEXA soars on change of guard. BlueScope, BHP and Rio Tinto pick site for smelting pilot plant. House prices to stall next year: HSBC. Meta settles Aus privacy breach case.
Original URL: https://www.adelaidenow.com.au/journalists/valerina-changarathil/page/14