L1 Capital tweaks Platinum deal terms as merger nears finalisation
Platinum also said its ownership portion of the merged entity will increase slightly from the initial 25 per cent of the company to 26 per cent as it seeks to lock down terms with L1.
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Sydney Morning Herald
13 minutes ago
- Sydney Morning Herald
ASX climbs as Brambles, gold stocks rise; James Hardie's horror run continues
The Australian sharemarket opened stronger this morning, putting it on track for a new record on one of the busiest days of reporting season. The S&P/ASX 200 climbed 65.90 points, or 0.7 per cent, to 8983.90 as of 11.05am AEST, with nine of its 11 industry sectors in the green, led by industrials, mining and consumer stocks. The ASX added 0.3 per cent on Wednesday. The Australian dollar was 0.3 per cent lower at US64.34¢. A flurry of local company results took investor attention away from Wall Street, where indexes ended mixed as the sell-down of AI superstars such as Nvidia continued, albeit at a more muted pace. Northern Star Resources, Australia's biggest gold producer, saw its shares rise 1.4 per cent after the company said it more than doubled its net profit over the past financial year, helped by a higher gold price amid resilient demand for safe haven assets amid tariff uncertainty for the global economy. Other gold stocks also gained. Evolution Mining was up 1.8 per cent and Newmont rose 1.3 per cent. Mining giants BHP, Fortescue Metals and Rio Tinto also advanced, rising 1.2 per cent, 0.9 per cent and 1.5 per cent, respectively. So did the big four banks, with CBA up 0.1 per cent, Westpac rising 0.7 per cent, NAB up 0.2 per cent and ANZ Bank up 0.5 per cent, respectively. Mining and financial stocks make up more than half of the ASX, so even small movements can steer the wider market. Brambles shares climbed 5.2 per cent. The pallet supplier this morning announced a share buyback of up to $US400 million ($622.5 million) and declared a final dividend of US20.83¢ a share, taking its payout for the year to US39.83¢, up 17 per cent from the last year, as an efficiency drive helped it improve profits. On the flip side, Whitehaven Coal shed 2.3 per cent after reporting its underlying net profit fell by more than half to $319 million in the past financial year, with earnings markedly slowing in the second half as coal prices declined. The news came a day after Yancoal, the nation's biggest pure play coal producer, said its revenues fell in the June half despite a higher coal output because of weaker prices. Yancoal's shares added 0.4 per cent after their 11.4 per cent loss on Wednesday. And James Hardie's horror sell-down continued, with the share price falling another 8.2 per cent after plummeting 27.8 per cent on Wednesday after the home cladding maker said its full-year net income was down 60 per cent as sales in its key US market declined. Demand in home repairs, renovations and new construction is 'challenging', it warned. On Wall Street overnight, the action centred again around stocks caught up in the mania around artificial-intelligence technology. The S&P 500 dipped 0.2 per cent after losing as much as 1.1 per cent in early trade. The Dow Jones Industrial Average added less than 0.1 per cent, and the Nasdaq fell 0.7 per cent.
The Age
13 minutes ago
- The Age
ASX climbs as Brambles, gold stocks rise; James Hardie's horror run continues
The Australian sharemarket opened stronger this morning, putting it on track for a new record on one of the busiest days of reporting season. The S&P/ASX 200 climbed 65.90 points, or 0.7 per cent, to 8983.90 as of 11.05am AEST, with nine of its 11 industry sectors in the green, led by industrials, mining and consumer stocks. The ASX added 0.3 per cent on Wednesday. The Australian dollar was 0.3 per cent lower at US64.34¢. A flurry of local company results took investor attention away from Wall Street, where indexes ended mixed as the sell-down of AI superstars such as Nvidia continued, albeit at a more muted pace. Northern Star Resources, Australia's biggest gold producer, saw its shares rise 1.4 per cent after the company said it more than doubled its net profit over the past financial year, helped by a higher gold price amid resilient demand for safe haven assets amid tariff uncertainty for the global economy. Other gold stocks also gained. Evolution Mining was up 1.8 per cent and Newmont rose 1.3 per cent. Mining giants BHP, Fortescue Metals and Rio Tinto also advanced, rising 1.2 per cent, 0.9 per cent and 1.5 per cent, respectively. So did the big four banks, with CBA up 0.1 per cent, Westpac rising 0.7 per cent, NAB up 0.2 per cent and ANZ Bank up 0.5 per cent, respectively. Mining and financial stocks make up more than half of the ASX, so even small movements can steer the wider market. Brambles shares climbed 5.2 per cent. The pallet supplier this morning announced a share buyback of up to $US400 million ($622.5 million) and declared a final dividend of US20.83¢ a share, taking its payout for the year to US39.83¢, up 17 per cent from the last year, as an efficiency drive helped it improve profits. On the flip side, Whitehaven Coal shed 2.3 per cent after reporting its underlying net profit fell by more than half to $319 million in the past financial year, with earnings markedly slowing in the second half as coal prices declined. The news came a day after Yancoal, the nation's biggest pure play coal producer, said its revenues fell in the June half despite a higher coal output because of weaker prices. Yancoal's shares added 0.4 per cent after their 11.4 per cent loss on Wednesday. And James Hardie's horror sell-down continued, with the share price falling another 8.2 per cent after plummeting 27.8 per cent on Wednesday after the home cladding maker said its full-year net income was down 60 per cent as sales in its key US market declined. Demand in home repairs, renovations and new construction is 'challenging', it warned. On Wall Street overnight, the action centred again around stocks caught up in the mania around artificial-intelligence technology. The S&P 500 dipped 0.2 per cent after losing as much as 1.1 per cent in early trade. The Dow Jones Industrial Average added less than 0.1 per cent, and the Nasdaq fell 0.7 per cent.
ABC News
43 minutes ago
- ABC News
ABC announces Bonner Committee Scholarship recipients for 2025
The ABC congratulates the recipients of the 2025 Bonner Committee scholarships, Bridget Caldwell-Bright and Peter Green. The scholarships were announced at an Awards dinner last night at the conclusion of the 2025 Indigenous Staff Conference. The scholarships honour the legacy of the late Neville Bonner AO and reinforces the ABC's commitment to Indigenous representation, development, and inclusion. The scholarships are awarded to current ABC employees to enhance their skills and develop their careers. Melbourne-based editorial advisor Bridget Caldwell-Bright has received the scholarship for leadership and Peter Green - a member of the Content Production Technology team in Perth - has received the development scholarship. Bonner Committee Chair 2022-25 Dan Bourchier said: 'The Bonner Scholarships are an important way of the Bonner Committee creating avenues for fellow Aboriginal and Torres Strait Islander colleagues, with access to professional development, training, and educational opportunities that can accelerate career growth and leadership pathways. By investing in Indigenous talent, the scholarships aim to retain skilled staff and support their personal development and growth, and advancement into influential roles across the organisation.' Bridget Caldwell-Bright - Leadership Bridget is the editorial adviser to the ABC state and regional newsrooms and the primary editorial policy adviser for News on issues that relate to First Nations people. As the recipient of the Bonner Committee leadership scholarship, she will take part in a short-term international exchange with the Canadian Broadcasting Corporation (CBC), with a focus on Editorial Standards to assist her professional development. Bridget will participate in an observational and knowledge exchange placement with the CBC Office of Editorial and Journalistic Standards, and the CBC Indigenous Unit. Peter Green - Development Peter's current role at the ABC in Perth is an assistant technologist, providing technical support to ensure broadcast and business continuity. His development scholarship involves a placement in the content production engineering team, with a specific focus on developing DataMiner Skills. The scholarship will increase Peter's hands-on experience, and technical knowledge. Last night, Dan Bourchier also welcomed Solua Middleton as the incoming Bonner Committee Chair and new Head of First Nations Audio. Media contact Nikki Tugwell, ABC Communications
