ASX ends up 0.3pc; Lake soars, Downer dumped
Lake Resources rockets ahead of key address. Downer dumped after FY23 loss. Boral sees strong turnaround. Ansell faces class action. Cettire rallies on demand outlook.
Lake Resources rockets ahead of key address. Downer dumped after FY23 loss. Boral sees strong turnaround. Ansell faces class action. Cettire rallies on demand outlook.
With AGL Energy’s share price on a tear of late, could Mike Cannon Brookes be about to sell down his stake in AGL Energy?
Sentiment turns after Fitch cuts US credit rating. Dollar slides to two-month low. Macquarie flags AGL challenges. Woolworths faces 1000 criminal charges over unpaid leave.
Bourse ends Friday lower as investors dump tech stocks. Newcrest dives after Newmont’s profit miss. Coronado reaffirms guidance. Mineral Resources hammered on broker cut.
Electricity prices rose after AGL shut down NSW’s Liddell coal power station in April, exacerbating fears over a jump in household bills as the fossil fuel exits the power grid.
The charge against AGL for failing to follow orders and deliver market stability is the latest enforcement action by the regulator amid mounting public anger.
Bourse also ends the week and quarter slightly higher. Downer jumps on $4.6bn rail contract. Link dives on HESTA loss. Bubs drops after China axing.
Mike Cannon-Brookes Ventures Grok remains AGL’s largest shareholder but he now owns 10.41 per cent of the energy company.
The bourse’s best winning streak since April has ended. Rex dives after earnings downgrade. TPG falls following Telstra deal rejection. CBA drops refinance threshold.
The road to becoming a green energy giant will also require the 186-year-old company to undertake its own mammoth transformation.
Vintage Energy has celebrated bringing its first gas production online, with the company turning on the taps under a long-term supply agreement with AGL.
The energy giant has to short-circuit the dramas of recent years to catch up with rivals in the multibillion-dollar renewables race.
AGL chief executive Damien Nicks says household and business energy costs will stay elevated over the next two years, despite wholesale power prices falling from last year’s highs.
All ASX sectors end in the red. Investors dump AGL on guidance cut, $1.1bn profit loss. Dollar rallies on China rate cut talks. Fortescue eyes mass job cuts. Coal miners struggle.
AGL Energy looked in-house for its new chief executive, and Damien Nicks expects a ‘bumpy road’ as the nation’s biggest coal generator pivots to renewables.
Shares at nine-month high after weaker jobs data. Miners gain as BHP tips strong China demand. Netwealth dives on inflows hit. Jeff Kennett calls for price cap enforcement.
The link between wages and productivity in the mining industry has weakened significantly over the past two decades, warns BHP’s Mike Henry. Others say energy is a peak concern.
A number of high-profile energy producers have raised concern over the duplication of state and federal government schemes to cut emissions.
Kerry Schott’s appointment to the AGL Energy board has triggered her resignation from a high profile Net Zero role in NSW.
AGL is closing it’s Torrens B gas-fired plant in South Australia almost a decade early, but the company has big plans ahead.
Original URL: https://www.theaustralian.com.au/topics/agl-energy/page/4