Latest news with #BHP
Top Gear
6 hours ago
- Automotive
- Top Gear
BMW 3 Series Touring Price & Specs
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West Australian
10 hours ago
- Business
- West Australian
ASX falls for third straight session on banks and miners
A slump in the price of iron ore and Australians dumping their bank stocks saw the local market slide for the third straight trading day. The benchmark ASX200 dropped 42.5 points or 0.49 per cent to 8,666.9 points on Friday while the broader All Ordinaries lost 45.10 points or 0.50 per cent to close the week at 8,934.30. Australia's dollar also fell and at the time of writing was buying 65.76 US cents. The falls were broad based with seven of the 11 sectors ending the day in the red, led by the materials, financials and healthcare sector. BHP shares fell 1.92 per cent to $40.80, Fortescue shares dropped 3.42 per cent of $18.35 and Rio Tinto traded down 0.83 per cent to $118.86 on the back of a falling iron ore price. Singapore iron ore futures slumped 1.7 per cent to $103.35. The drop follows investors fear of an oversupply of the commodity. The big four banks continued their sell-off with CBA down 0.35 per cent to $172.87, NAB down 0.40 per cent to $37.51, Westpac slumping 0.78 per cent to $33.03 and ANZ down 0.72 per cent to $30.22. Market heavyweight CSL also fell 0.61 per cent to $267.92, while Sigma Healthcare lost 0.70 per cent to $2.84 and Cochlear slid 0.38 per cent to $312.83. AMP chief economist and head of investment strategy Shane Oliver said the Australian market fell during the week even though Wall Street continued to reset record highs. 'Resources and health stocks rose but this was more than offset by falls in consumer and financial shares, with CBA coming under after it nearly doubled in price over two years,' he said. Dr Oliver said the Australian sharemarket was still on track for a solid July up 1.4 per cent so far although the gains could be short lived. 'With lots of good news already factored in and valuations stretched, markets are a bit vulnerable to a correction over the seasonally weaker months of August and September with a long worry list,' he said. Shares in anti-drone technology business DroneShield slumped 10.09 per cent to $3.03. This was on the back of no announcement and could be investors taking profit after the shares surged more than 300 per cent so far this year. Bapcor shares gained 1.64 per cent to $3.72 following after tanking nearly 30 per cent to a five-year low on Thursday on the back of its latest earnings forecast. The Autobarn and Midas owner said statutory net profits after tax would lie between $31m-$34m. Specialist alternative investment manager Regal Partners surged 9.02 per cent to $2.90 after announcing a 7 per cent increase in funds under management to $17.7bn. Shares in Newmont also shined, gaining 3.81 per cent to $95.38 after the US gold miner announced a 9 per cent rise in net income for the second quarter and a $4.6bn share buyback program.
News.com.au
10 hours ago
- Business
- News.com.au
ASX falls for third straight session on banks and miners
A slump in the price of iron ore and Australians dumping their bank stocks saw the local market slide for the third straight trading day. The benchmark ASX200 dropped 42.5 points or 0.49 per cent to 8,666.9 points on Friday while the broader All Ordinaries lost 45.10 points or 0.50 per cent to close the week at 8,934.30. Australia's dollar also fell and at the time of writing was buying 65.76 US cents. The falls were broad based with seven of the 11 sectors ending the day in the red, led by the materials, financials and healthcare sector. BHP shares fell 1.92 per cent to $40.80, Fortescue shares dropped 3.42 per cent of $18.35 and Rio Tinto traded down 0.83 per cent to $118.86 on the back of a falling iron ore price. Singapore iron ore futures slumped 1.7 per cent to $103.35. The drop follows investors fear of an oversupply of the commodity. The big four banks continued their sell-off with CBA down 0.35 per cent to $172.87, NAB down 0.40 per cent to $37.51, Westpac slumping 0.78 per cent to $33.03 and ANZ down 0.72 per cent to $30.22. Market heavyweight CSL also fell 0.61 per cent to $267.92, while Sigma Healthcare lost 0.70 per cent to $2.84 and Cochlear slid 0.38 per cent to $312.83. AMP chief economist and head of investment strategy Shane Oliver said the Australian market fell during the week even though Wall Street continued to reset record highs. 'Resources and health stocks rose but this was more than offset by falls in consumer and financial shares, with CBA coming under after it nearly doubled in price over two years,' he said. Dr Oliver said the Australian sharemarket was still on track for a solid July up 1.4 per cent so far although the gains could be short lived. 'With lots of good news already factored in and valuations stretched, markets are a bit vulnerable to a correction over the seasonally weaker months of August and September with a long worry list,' he said. Shares in anti-drone technology business DroneShield slumped 10.09 per cent to $3.03. This was on the back of no announcement and could be investors taking profit after the shares surged more than 300 per cent so far this year. Bapcor shares gained 1.64 per cent to $3.72 following after tanking nearly 30 per cent to a five-year low on Thursday on the back of its latest earnings forecast. The Autobarn and Midas owner said statutory net profits after tax would lie between $31m-$34m. Specialist alternative investment manager Regal Partners surged 9.02 per cent to $2.90 after announcing a 7 per cent increase in funds under management to $17.7bn. Shares in Newmont also shined, gaining 3.81 per cent to $95.38 after the US gold miner announced a 9 per cent rise in net income for the second quarter and a $4.6bn share buyback program.
Business Recorder
12 hours ago
- Business
- Business Recorder
Aussie shares fall as miners, gold stocks weigh; eye worst week since April
Australian shares fell on Friday and were headed for their worst week in 16, dragged down by losses in gold stocks and miners, while markets awaited progress in U.S. trade talks. The S&P/ASX 200 index lost 0.5% to 8,935.1 by 0058 GMT, taking its decline to more than 1% so far this week and putting it on track for its steepest weekly drop since April 4. Miners dragged the index lower, with the sub-index down 1.2% as iron ore prices fell. Rio Tinto and BHP slipped 1% and 1.4%, respectively, while Fortescue, which released key production results this week, was down 1.8%. Whitehaven Coal eased 0.2%, outperforming the broader sub-index after reporting a 9% jump in its fourth-quarter output. Gold stocks fell 0.9%, with Northern Star Resources and Evolution Mining down 1.5% and 1.7%, respectively. Financials shed 0.7%, with the 'Big Four' banks down between 0.3% and 0.9%. Bucking the trend, energy stocks rose 1.1%, as oil prices climbed on hopes of a potential trade deal between the U.S. and the European Union and reports of Russian plans to restrict gasoline exports to most countries. Meanwhile, Australia agreed to open its market to U.S. beef, U.S. President Donald Trump said on Thursday. Reports said Canberra is considering using this easing of rules to wind back the 50% U.S. tariffs on steel and aluminium and fend off threats of a 200% duty on pharmaceuticals. Most Australian exports to the U.S. face a 10% baseline tariff. Across the Tasman Sea, New Zealand's benchmark S&P/NZX 50 index rose 0.1% to 12,815.76 points.
News.com.au
14 hours ago
- Business
- News.com.au
Lunch Wrap: ASX slips as iron ore miners nurse a hangover; oil stocks surge
ASX slumps as oil stocks power up
 Miners wobble while Newmont shines
 Whitehaven hits targets, Maas caught up in corruption cloud The ASX was dragging its feet on Friday, down 0.5% at lunch time in the eastern states as a murky Wall Street session cast a long shadow across the Aussie bourse. The only sector doing any real heavy lifting was energy, which managed to fire up thanks to rising oil prices overnight. Oil stocks caught a nice tailwind from a sharper-than-expected US crude inventory draw, and rumblings of Russia choking off gasoline exports to everyone except its inner circle of allies. Add in whispers of a US-EU trade deal, and you've got a barrel full of bullish fuel. Miners, however, were getting smacked. Iron ore futures barely moved, but it wasn't enough to stop BHP (ASX:BHP), Rio Tinto (ASX:RIO) and Fortescue (ASX:FMG) giving up some of their previous days' gains, down well over 1%. Traders are fretting about seaborne supply catching up with demand, despite China's slow-motion stimulus. Gold miners were also caught in the downdraft. As US Fed watchers bet on interest rates staying put, gold slid and took stocks like Northern Star Resources (ASX:NST) and Evolution Mining (ASX:EVN) with it. The exception was Newmont Corporation (ASX:NEM). The global gold giant defied the tide, jumping 3.8% after beating earnings estimates and churning out 1.5 million ounces of gold in Q2. This is where we stood at about 1pm AEST: In other large caps news, Whitehaven Coal (ASX:WHC) wrapped up FY25 with a strong June quarter, hitting or beating all its guidance targets. Managed run-of-mine (ROM) production for the year jumped 60% to 39.1Mt, while equity coal sales hit 26.5Mt. Costs came in below forecast at ~$139/t, with capex also under guidance. And, MAAS Group Holdings (ASX:MGH) slid 1.2% after confirming its Capital Asphalt unit had been swept into an ICAC probe. The alleged dodgy dealings, involving bribes and inflated invoices worth $343 million, predate Maas' involvement, but the market didn't care much for the clarification. ASX SMALL CAP WINNERS Here are the best performing ASX small cap stocks for July 25 : Security Description Last % Volume MktCap ALB Albion Resources 0.135 96% 29,345,846 $9,103,400 MQR Marquee Resource Ltd 0.014 56% 10,080,058 $5,024,723 ENT Enterprise Metals 0.003 50% 366,600 $2,742,635 ZMM Zimi Ltd 0.012 50% 1,050,000 $3,920,351 KFM Kingfisher Mining 0.070 49% 1,726,160 $2,524,605 5EA 5Eadvanced 0.805 34% 150,887 $8,822,124 RNX Renegade Exploration 0.004 33% 1,000,000 $3,865,090 DBO Diabloresources 0.019 27% 1,654,807 $2,521,738 CRR Critical Resources 0.005 25% 1,870,000 $11,080,342 AMO Ambertech Limited 0.185 23% 380,827 $14,310,717 IMB Intelligent Monitor 0.590 22% 1,793,143 $173,011,446 AMS Atomos 0.006 20% 889,120 $6,075,092 EE1 Earths Energy Ltd 0.006 20% 100,000 $2,649,821 LBL Laserbond Limited 0.565 19% 418,460 $55,884,697 CRN Coronado Global Res 0.230 18% 20,483,304 $326,908,477 CDE Codeifai Limited 0.027 17% 24,380,319 $10,853,722 ATS Australis Oil & Gas 0.011 17% 692,621 $11,862,562 GBE Globe Metals &Mining 0.042 17% 338,315 $25,007,508 GRE Greentechmetals 0.091 17% 673,563 $8,844,820 IS3 I Synergy Group Ltd 0.014 17% 2,776,404 $20,475,599 TYX Tyranna Res Ltd 0.004 17% 2,006,791 $9,865,276 NUZ Neurizon Therapeutic 0.180 16% 1,225,464 $76,307,394 VHM Vhmlimited 0.235 15% 183,202 $51,981,840 LSA Lachlan Star Ltd 0.063 15% 74,000 $13,891,526 Albion Resources (ASX:ALB) has kicked off drilling at Collavilla with a bang, hitting gold in every hole from the first batch of assays. The standout was 11m at 20.0g/t from just 17m depth, including 5m at nearly 39g/t. It's only scratched a small patch of the 4km-long Ives Find granite, but the early signs point to a high-grade system. Kingfisher Mining (ASX:KFM) has picked up a strategic package of copper-gold and silver-lead-zinc projects in NSW from Austin Metals for $200k in cash and $200k in shares. The deal includes 11 tenements across 700km2 in three key regions – Broken Hill, Cobar, and the Macquarie Arc - near major deposits. Standout assets include the Copper Blow IOCG prospect, which has returned hits up to 6.1% copper and 4.2g/t gold. AmberTech (ASX:AMO), which specialises in audio-visual tech and defence comms gear, expects FY25 revenue to top $100 million, up from $95.5 million last year. The second half alone brought in over $54 million, with margins also improving. Demand from defence continues to build, and Ambertech says its diversified product base is proving resilient despite soft patches in consumer HiFi. ASX SMALL CAP LOSERS Here are the worst performing ASX small cap stocks for July 25 : Code Name Price % Change Volume Market Cap BMO Bastion Minerals 0.001 -50% 300,000 $3,162,696 MIO Macarthur Minerals 0.015 -40% 47,030 $4,991,638 AOA Ausmon Resorces 0.001 -33% 2,000,000 $1,966,820 BP8 Bph Global Ltd 0.002 -33% 1,831,399 $3,152,954 EEL Enrg Elements Ltd 0.001 -33% 1 $4,880,668 HCD Hydrocarbon Dynamics 0.002 -33% 450,000 $3,234,328 MTL Mantle Minerals Ltd 0.001 -33% 333,333 $9,671,169 OB1 Orbminco Limited 0.001 -33% 4,961,460 $5,103,852 GMN Gold Mountain Ltd 0.071 -29% 23,409 $12,211,261 AJL AJ Lucas Group 0.005 -29% 90,000 $9,630,107 GTE Great Western Exp. 0.016 -27% 4,329,219 $12,490,674 CTN Catalina Resources 0.004 -20% 15,950,000 $12,130,095 FAU First Au Ltd 0.005 -17% 381,631 $12,457,748 SLZ Sultan Resources Ltd 0.005 -17% 142,142 $1,388,819 OCT Octava Minerals 0.034 -15% 1,062,312 $2,440,372 IFG Infocusgroup Hldltd 0.018 -14% 1,067,733 $6,130,723 BNL Blue Star Helium Ltd 0.006 -14% 437,628 $18,864,197 OVT Ovanti Limited 0.006 -14% 1,693,332 $29,920,265 TMS Tennant Minerals Ltd 0.006 -14% 47,368 $7,461,233 ESK Etherstack PLC 0.410 -14% 40,944 $62,990,701 JAT Jatcorp Limited 0.320 -14% 18,805 $30,808,665 BMG BMG Resources Ltd 0.007 -13% 121,958 $6,755,177 HPC Thehydration 0.014 -13% 45,545 $6,892,815 IN CASE YOU MISSED IT Joint pain has become a major focus for Australia's booming complementary medicines industry, now worth more than $6.4 billion a year. Complementary Medicines Group (CMG) is entering the conversation with a new product focused on knees. Sovereign Metals (ASX:SVM) have passed another major milestone towards a DFS for its flagship Kasiya rutile-graphite project in Malawi. GTI Energy (ASX:GTR) has secured approval to start drilling its Lo Herma uranium project in Wyoming as the US looks to rebuild its domestic supply chain. Modelling at Firetail Resources' (ASX:FTL) Picha copper project in Peru has been reinforced by UAV magnetics data pointing to the possibility of a significant porphyry system. LAST ORDERS Rhythm Biosciences (ASX:RHY) has teamed up with the Memorial Sloan Kettering Cancer Center to investigate the use of its geneType technology. The two entities will collaborate to assess the value of genetic risk scores for breast and ovarian cancer, particularly in BRCA1/2 carriers. Management says it's an important step in understanding the connection between genetic predisposition and cancer prevalence, with the goal of enabling earlier detection, informed decision-making and proactive risk reduction. At Stockhead, we tell it like it is. While Rhythm Biosciences is a Stockhead advertiser, it did not sponsor this article.
