ASX rises on quiet day of trading
Cautious investors helped drive the Australian sharemarket higher on the back of a retreat in US treasury yields and low trading volumes.
The benchmark ASX200 index finished slightly higher, up 12.20 points or 0.15 per cent to finish the week up 8,360.90.
Meanwhile, the broader All Ordinaries also finished in the green up 15.30 points or 0.18 per cent to 8,586.70.
The Aussie dollar is trading around US64.34c.
On Wall Street overnight, there was a sizeable reversal in the US10-year yield which helped drive the overseas market higher.
This helped drive a mixed day on the Australian market.
Six sectors finished in the green, while five fell, with the gains led by information technology and energy stocks.
WiseTech jumped 1.33 per cent to $100.05, while it was a good day for Technology One Limited, up 1.61 per cent to $38.61 and Life360 which grew 1.08 per cent to $31.56.
It was also a strong day for the financial sector, with all four major banks rising during Friday's trading.
Commonwealth Bank jumped 0.65 per cent to $173.84, while NAB was up 0.88 per cent to $37.70, ANZ finished 0.76 per cent higher at $29.07 and Westpac eked out a gain up 0.064 per cent to $31.24.
Meanwhile the nuclear energy sectors were the major winners driving the energy sector.
Boss Energy was the best performing share on the local bourse surging 12.12 per cent to $3.98 while Deep Yellow jumped 8.260 per cent to $1.24 and Paladin Energy finished 6.654 per cent higher to $5.77.
The surge in uranium stocks came on the back of the latest White House executive order aimed at jump-starting the nuclear energy industry.
Moomoo market strategist Jessica Amir said the Australian uranium players grew despite not having direct exposure to the US market.
'The companies that are operating in Australia aren't really selling to the US, but a rising tide lifts all boats,' Ms Amir said.
'It doesn't necessarily mean that they're going to be beneficiaries of what he's announced, but I will say we need to consider who the biggest companies in this space are … including Constellation Energy and Vistra.'
Despite the overall jump in shares, Ms Amir said it was many defensive sectors including gold miners that were helping to drive the ASX on Friday.
'The theme of the week is government debt and of course the White House is closer to passing the 'big beautiful Bill', which potentially will see them increase the debt limit while also cutting taxes,' she said.
In corporate news, shares in Origin Energy fell 1.1 per cent to $11.05 after flagging LNG price cuts which will impact future profitability.
Shares in retailer Myer leapt 5.41 per cent to $0.78 on Friday after the department store owner reported growth in its own stores, while its newly acquired Apparel Brands from Premier Investment saw revenue slide.
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CNN
3 hours ago
- CNN
A council proposed a Tesla factory. It got a torrent of anti-Musk abuse
When friends Neon and Zane started a campaign to stop Tesla from building a battery recycling factory on a small block in their local area, they suspected that strong views about the company's billionaire boss might help sway local opinion. But they had no idea how much, or how far, anti-Elon Musk sentiment had spread beyond the epicenter of his influence in the United States, where until recently he caused chaos in federal workplaces as the head of the Department of Government Efficiency. Neon and Zane, who asked to use aliases to avoid doxxing by Musk supporters, say the main aim of their campaign, 'Trees Not Teslas,' was to preserve about 60 trees on the site, in Tonsley, an area south of Adelaide, Australia's driest state capital. 'We're struggling for designated green spaces … and it's just an insult to try and take away the one bit that's left within the Tonsley area,' said Neon, who used to live near the site and still works in the vicinity. When the local council published the results of its community consultation on the proposal, which allows the land to be sold for redevelopment, it contained hundreds of inflammatory anti-Musk comments or outright slurs. A search showed 229 references to 'Nazi,' 'Nazism' or other, similar phrases, to give an indication of the tone. With his high profile, confrontational statements and postings on social media, Musk has become a lightning rod for people across America and around the world opposed to the policies of US President Donald Trump's administration. The Tesla CEO is now engaged in a very public bust-up with Trump, that's unfolding in real-time on rival social media platforms, watched by a global audience. Musk's former close partnership with Trump took a toll on Tesla sales. Global deliveries plunged 13% in the first three months of this year, the largest drop in its history, as backlash against Musk and growing competition took a bite out of demand for its vehicles. Of the proposed factory in Tonsley, a suburb managed by the Marion Council, one comment from the public consultation said: 'You and I both know it's getting torched every few months because of the Nazi implications. You really want that bought (sic) up every single meeting?' Some respondents referred directly to the arm gesture Musk gave in January at Trump's post-inauguration rally that commentators likened to a fascist salute. At the time, Musk wrote on his social media platform X: 'The 'everyone is Hitler' attack is sooo tired.' But the memory appeared to stick with Tonsley residents and a staggering 95% of over 900 replies to the council survey rejected its plans to prepare the land for sale. However, Marion Council passed it anyway and sent it to the state government for approval. CNN has reached out to Tesla for comment. It may seem unusual that residents in a small Australian city might have issues with Musk, given their distance from his policies and decisions. And it's especially unusual given South Australia's past positive experience with the billionaire entrepreneur. In 2017, Musk offered to build the world's most powerful battery to solve some of the state's power woes within 100 days, or it would be free. And he did. South Australia is now leading the country in terms of renewable energy and is on track to hit its target of 100% net renewables by 2027. Backed by the state government, Tesla and a local power company have created a virtual power plant fitting Powerwall battery systems on homes across the state. The idea is that all the batteries would band together to support the grid in times of high demand. However, the proposed Tesla plant in Marion would not generate any power – it would be used to recycle Tesla batteries and provide a showroom for Tesla's electric vehicles (EV), sales of which have fallen in Australia. Figures from the Electric Vehicle Council show Tesla sales nationwide nearly halved in the year to May 2025. Felipe Munoz, senior analyst at auto market research firm JATO Dynamics, says that's partly due to the wait for the Model Y. It finally arrived in Australia in May, sending Tesla sales soaring 122% last month compared with the same period a year ago. Marion Council Mayor Kris Hanna says anti-Musk sentiment had intruded on a standard council consultation, which was simply about finding a use for contaminated land 'that will probably never be a recreational space again.' The site is contaminated by trichloroethylene, known as TCE, a solvent that can cause cancer and non-Hodgkin lymphoma and is banned in the United States. 'The problem with that is, not only, for example, children playing in the dirt, but also the fumes which can rise up from underneath the earth. Sealing it with a bitumen car park or a building is a solution,' said Hanna. The site has been fenced off from the public since 2016. The locals say that, even if they can't use it, the mature trees offer a refuge for birdlife in an area almost devoid of tree canopy. More importantly, according to the Conservation Council of South Australia, the mature trees are helping to contain the contamination. 'The removal of trees puts that site at greater risk of the leakage of those contaminants into the groundwater and obviously then impacting on human health more broadly,' said Kirsty Bevan, the group's CEO, who added Tesla's promises to plant 59 saplings on the site weren't good enough. 'We are proposing that further research needs to be undertaken at that site, and remedial measures need to be put in place,' she said. 'I think that the site improvements we're looking for would come with a forest of trees.' Of the anti-Musk campaign, Bevan said: 'I don't let my personal opinions of people I've never met before interfere with being a voice for nature.' Hanna, the mayor, said councilors heard the opposition but voted 8-3 to pass the proposal because it would create 100 jobs, a 'huge number' for the area. A new business would also pay local taxes, easing the burden on residents during a cost-of-living crisis, Hanna said. 'To have a substantial new factory come into the area is very significant, and it's adjacent to a high-tech manufacturing area, which we developed in the place of an old car plant. So, it actually fits in very well to have a factory that recycles electric batteries,' Hanna said. One of the dissenting councilors, Sarah Luscombe, said she voted against the proposal because the community had sent clear and consistent feedback that they wanted more trees, and the council's own strategic vision is for a 'livable, sustainable community.' 'The people that I've spoken to in the community are just sick and tired of seeing their interests overshadowed by those of large corporations,' Luscombe said. 'More and more, we're seeing communities just saying, 'Well, hang on, I do want to have a say here, and I do want my views to be counted.'' In recent months, Tesla cars and showrooms have been vandalized in multiple countries by critics venting their anger over Musk's support of far-right parties in Europe, and other policies. Hanna said the council had received 'vitriolic correspondence' since approving the proposal, but he wasn't concerned about a violent backlash against the Tesla factory or council members and wouldn't be drawn on his own views on Musk. 'I'm speaking as a mayor, and I don't actually take any political or ideological stance,' he said. 'I just try and make life beautiful for the people in my area.' South Australian Local Government Minister Joe Szakacs told CNN in a statement that he will follow the 'usual process' to determine if the land should be approved for sale. 'Our Government welcomes investment and job creation in South Australia and is proud of its commitment to deliver 100 per cent net renewables by 2027,' he said. Any sale would require the land's owner to submit a development application and decontaminate the site to the standards set by state authorities. South Australia's Environment Protection Authority said it's held preliminary talks with the council and the developer. Addressing legacy contamination is often complex, costly and time-consuming, it added. Neon and Zane organized a snap rally outside the Marion Council building on Wednesday calling for the state government to reject the re-zoning application. More than a dozen protesters held signs, including one that said, 'Elon Musk can get [redacted].' They're determined to keep Tesla out of their area and are unmoved by the promise of more jobs. 'They're going to be jobs on contaminated land in a company that's contaminated by Elon Musk,' said Neon. 'Ninety-nine out of the 117 pages in their report were negative comments about Elon and the proposal. How can you ignore that? And if you do, you're not representing the people, you're just being bought by business.'
CNN
3 hours ago
- CNN
A council proposed a Tesla factory. It got a torrent of anti-Musk abuse
When friends Neon and Zane started a campaign to stop Tesla from building a battery recycling factory on a small block in their local area, they suspected that strong views about the company's billionaire boss might help sway local opinion. But they had no idea how much, or how far, anti-Elon Musk sentiment had spread beyond the epicenter of his influence in the United States, where until recently he caused chaos in federal workplaces as the head of the Department of Government Efficiency. Neon and Zane, who asked to use aliases to avoid doxxing by Musk supporters, say the main aim of their campaign, 'Trees Not Teslas,' was to preserve about 60 trees on the site, in Tonsley, an area south of Adelaide, Australia's driest state capital. 'We're struggling for designated green spaces … and it's just an insult to try and take away the one bit that's left within the Tonsley area,' said Neon, who used to live near the site and still works in the vicinity. When the local council published the results of its community consultation on the proposal, which allows the land to be sold for redevelopment, it contained hundreds of inflammatory anti-Musk comments or outright slurs. A search showed 229 references to 'Nazi,' 'Nazism' or other, similar phrases, to give an indication of the tone. With his high profile, confrontational statements and postings on social media, Musk has become a lightning rod for people across America and around the world opposed to the policies of US President Donald Trump's administration. The Tesla CEO is now engaged in a very public bust-up with Trump, that's unfolding in real-time on rival social media platforms, watched by a global audience. Musk's former close partnership with Trump took a toll on Tesla sales. Global deliveries plunged 13% in the first three months of this year, the largest drop in its history, as backlash against Musk and growing competition took a bite out of demand for its vehicles. Of the proposed factory in Tonsley, a suburb managed by the Marion Council, one comment from the public consultation said: 'You and I both know it's getting torched every few months because of the Nazi implications. You really want that bought (sic) up every single meeting?' Some respondents referred directly to the arm gesture Musk gave in January at Trump's post-inauguration rally that commentators likened to a fascist salute. At the time, Musk wrote on his social media platform X: 'The 'everyone is Hitler' attack is sooo tired.' But the memory appeared to stick with Tonsley residents and a staggering 95% of over 900 replies to the council survey rejected its plans to prepare the land for sale. However, Marion Council passed it anyway and sent it to the state government for approval. CNN has reached out to Tesla for comment. It may seem unusual that residents in a small Australian city might have issues with Musk, given their distance from his policies and decisions. And it's especially unusual given South Australia's past positive experience with the billionaire entrepreneur. In 2017, Musk offered to build the world's most powerful battery to solve some of the state's power woes within 100 days, or it would be free. And he did. South Australia is now leading the country in terms of renewable energy and is on track to hit its target of 100% net renewables by 2027. Backed by the state government, Tesla and a local power company have created a virtual power plant fitting Powerwall battery systems on homes across the state. The idea is that all the batteries would band together to support the grid in times of high demand. However, the proposed Tesla plant in Marion would not generate any power – it would be used to recycle Tesla batteries and provide a showroom for Tesla's electric vehicles (EV), sales of which have fallen in Australia. Figures from the Electric Vehicle Council show Tesla sales nationwide nearly halved in the year to May 2025. Felipe Munoz, senior analyst at auto market research firm JATO Dynamics, says that's partly due to the wait for the Model Y. It finally arrived in Australia in May, sending Tesla sales soaring 122% last month compared with the same period a year ago. Marion Council Mayor Kris Hanna says anti-Musk sentiment had intruded on a standard council consultation, which was simply about finding a use for contaminated land 'that will probably never be a recreational space again.' The site is contaminated by trichloroethylene, known as TCE, a solvent that can cause cancer and non-Hodgkin lymphoma and is banned in the United States. 'The problem with that is, not only, for example, children playing in the dirt, but also the fumes which can rise up from underneath the earth. Sealing it with a bitumen car park or a building is a solution,' said Hanna. The site has been fenced off from the public since 2016. The locals say that, even if they can't use it, the mature trees offer a refuge for birdlife in an area almost devoid of tree canopy. More importantly, according to the Conservation Council of South Australia, the mature trees are helping to contain the contamination. 'The removal of trees puts that site at greater risk of the leakage of those contaminants into the groundwater and obviously then impacting on human health more broadly,' said Kirsty Bevan, the group's CEO, who added Tesla's promises to plant 59 saplings on the site weren't good enough. 'We are proposing that further research needs to be undertaken at that site, and remedial measures need to be put in place,' she said. 'I think that the site improvements we're looking for would come with a forest of trees.' Of the anti-Musk campaign, Bevan said: 'I don't let my personal opinions of people I've never met before interfere with being a voice for nature.' Hanna, the mayor, said councilors heard the opposition but voted 8-3 to pass the proposal because it would create 100 jobs, a 'huge number' for the area. A new business would also pay local taxes, easing the burden on residents during a cost-of-living crisis, Hanna said. 'To have a substantial new factory come into the area is very significant, and it's adjacent to a high-tech manufacturing area, which we developed in the place of an old car plant. So, it actually fits in very well to have a factory that recycles electric batteries,' Hanna said. One of the dissenting councilors, Sarah Luscombe, said she voted against the proposal because the community had sent clear and consistent feedback that they wanted more trees, and the council's own strategic vision is for a 'livable, sustainable community.' 'The people that I've spoken to in the community are just sick and tired of seeing their interests overshadowed by those of large corporations,' Luscombe said. 'More and more, we're seeing communities just saying, 'Well, hang on, I do want to have a say here, and I do want my views to be counted.'' In recent months, Tesla cars and showrooms have been vandalized in multiple countries by critics venting their anger over Musk's support of far-right parties in Europe, and other policies. Hanna said the council had received 'vitriolic correspondence' since approving the proposal, but he wasn't concerned about a violent backlash against the Tesla factory or council members and wouldn't be drawn on his own views on Musk. 'I'm speaking as a mayor, and I don't actually take any political or ideological stance,' he said. 'I just try and make life beautiful for the people in my area.' South Australian Local Government Minister Joe Szakacs told CNN in a statement that he will follow the 'usual process' to determine if the land should be approved for sale. 'Our Government welcomes investment and job creation in South Australia and is proud of its commitment to deliver 100 per cent net renewables by 2027,' he said. Any sale would require the land's owner to submit a development application and decontaminate the site to the standards set by state authorities. South Australia's Environment Protection Authority said it's held preliminary talks with the council and the developer. Addressing legacy contamination is often complex, costly and time-consuming, it added. Neon and Zane organized a snap rally outside the Marion Council building on Wednesday calling for the state government to reject the re-zoning application. More than a dozen protesters held signs, including one that said, 'Elon Musk can get [redacted].' They're determined to keep Tesla out of their area and are unmoved by the promise of more jobs. 'They're going to be jobs on contaminated land in a company that's contaminated by Elon Musk,' said Neon. 'Ninety-nine out of the 117 pages in their report were negative comments about Elon and the proposal. How can you ignore that? And if you do, you're not representing the people, you're just being bought by business.'
Associated Press
3 hours ago
- Associated Press
ATMOS Global ™ Launches a new ‘ATMOS-5D Sentient Severe Weather and Risk of Air Quality Impact Forecasting Platform™
ATMOS Global's new intelligent & adaptive ATMOS-5D Sentient Platform™ redefines best practice in the management of air quality impacts and severe weather events 'ATMOS-5D™'s super-intelligent AI algorithms enable businesses to proactively respond to risks, optimise operations, enhance safety, productivity, sustainability, asset protection and achieve NetZero'— Dr Orestis Valianatos, Global President and CEO ATMOS Global ™ MELBOURNE, VICTORIA, AUSTRALIA, June 7, 2023 / / -- ATMOS Global Pty Ltd (ATMOS Global™, a leading innovator in advanced forecasting technologies is excited to announce the launch of our cutting-edge ATMOS-5D Sentient Severe Weather and Risk of Air Quality Impact Forecasting Platform ™ integrating the latest advancements in atmospheric sciences, artificial intelligence (AI) techniques, data science and block-chain technology with our three decades of extensive expertise in the development and practical application of advanced 3D weather prediction algorithms to offer unparalleled accuracy, efficiency and immersive user experiences which give us a distinct edge in the marketplace. 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'Our system's super-intelligent AI algorithms and comprehensive data analysis enable businesses to proactively respond to potential risks and optimise their operations, ultimately enhancing safety, productivity, sustainability, asset protection, and empower organisations to decarbonise and achieve their NetZero targets. We have created a sophisticated 'time machine' that can be used to move back and forth through time to study impacts into the past, present and future. ATMOS Global's team is honoured to continue our contribution to shaping the future of technology, industry and our society. We will continue building our decades long legacy of inspiring the adoption of high-end computer modelling and AI enhanced innovations to assist companies achieve better results, consider the benefits of leveraging their resources to their fullest potential and embrace adaptability and flexibility to take advantage of the opportunities available to them.' Since 2009, ATMOS Global's executive team has travelled the world to share the news and benefits of our advanced innovations with prospective clients, as part of our journey to 'discover and inspire excellence' through our Centre for Global and Site Specific Dust Impact Forecasting, Management and Control ™. While many of our prospective clients are already familiar with our services, we understand that there may be others we have yet to reach. We kindly invite those who are interested to register their interest via our website to stay informed about our service offerings and be among the first to receive updates and relevant information. Visit our website today and take the first step towards discovering the value we can bring to your organization. ATMOS Global ™ is a wholly Australian-owned and funded leading global consulting company specialising in advanced severe weather and air quality impact forecasting, management, control and training, sustainability, ESG and visionary management consulting services with the head office in Melbourne and a world-wide reach supported by a world-class global network that extends across all five continents. ATMOS Global ™ aims to be the air quality forecasting industry's innovative leader on a global scale. Dr Orestis Valianatos ATMOS Global Pty Ltd +61 1300 692 866 [email protected] Visit us on social media: Other LinkedIn YouTube X Facebook Instagram Legal Disclaimer: EIN Presswire provides this news content 'as is' without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. 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