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News.com.au
5 days ago
- Business
- News.com.au
Closing Bell: ASX rebounds, fuelled by utilities gains
ASX rebounds to set new intraday high, up 0.53pc Origin Energy leads gains alongside utilities sector Unemployment rate falls, lowering interest rate cut chances ASX sets new intraday high The ASX rebounded powerfully from yesterday's profit taking, adding 0.53% or 46.7 points by the end of the day. The market briefly touched a new intraday high of 8899 points, but couldn't hold the gains to mark off a new record close as well. We're currently sitting 0.28% off that intraday high. Today's hero was the utilities sectors, riding high on a surge in Origin Energy (ASX:ORG) shares (+6.3%) alongside some other solid performances among its brethren. The gas and electricity provider lifted underlying profits by $307m year-on-year and offered up a second 30c dividend to bring the financial year's full offering to 60c a share. AGL Energy (ASX:AGL) also climbed 2.5%, while Genesis Energy (ASX:GNE) lifted 2.8% and Energy World Corp (ASX:EWC) 1.7%. Overall, eight of 11 sectors finished higher and the Banks (+1.3%), Tech (+1.3%) and Gold indices (+0.33%) lent their momentum to boot. Looking for coverage of today's earnings reports? Check out our midday Lunch Wrap courtesy of the preeminent Eddy Sunarto for deets on Westpac (ASX:WBC), Suncorp Group (ASX:SUN), Pro Medicus (ASX:PME), Temple & Webster (ASX:TPW) and South32's (ASX:S32) earnings performances today. More Australians employed more efficiently The ABS released its employment stats today, which fell overall in line with expectations at 4.2%, with 25,000 jobs created in the past month. The numbers tell a story of a more efficiently employed workforce, too – part-time workers fell by 36,000 while full employment lifted by 60,000 positions. Our underutilisation rate – which combines unemployment and underemployment rates – fell by 0.2% to 10.1%, maintaining an ongoing downward trend. Women's participation in the work force hit a record high this month, with the participation rate reaching 63.5%. 'Trend annual employment growth has been faster than population growth for most of the past year, but has slowed in recent months to be in line with annual population growth in July,' ABS head of labour statistics Sean Crick said. The numbers were exactly in line with both the market's and the RBA's expectations, lowering the expectations for a September interest rate cut to 35% according to the ABC's business blog. That said, expectations for a rate cut before November are still high at 78%. ASX Leaders Today's best performing stocks (including small caps): Code Name Last % Change Volume Market Cap ATV Activeport Group Ltd 0.023 142% 1.52E+08 $6,526,282 GGE Grand Gulf Energy 0.002 100% 804209 $2,820,425 MRD Mount Ridley Mines 0.004 60% 46808312 $1,946,223 CRB Carbine Resources 0.006 50% 2879525 $4,000,652 MEL Metgasco Ltd 0.003 50% 100000 $3,674,173 PRM Prominence Energy 0.003 50% 15207265 $972,941 TMX Terrain Minerals 0.003 50% 331104 $5,063,629 OLY Olympio Metals Ltd 0.13 44% 593543 $9,276,057 BPP Babylon Pump & Power 0.007 40% 8348639 $19,034,455 MMR Mec Resources 0.007 40% 9922730 $9,248,829 CR9 Corellares 0.004 33% 750000 $3,021,809 DTI DTI Group Ltd 0.008 33% 66887 $5,382,617 BPH BPH Energy Ltd 0.012 33% 21504358 $10,964,095 FUL Fulcrum Lithium 0.078 26% 460054 $4,681,000 FRB Firebird Metals 0.175 25% 4568697 $19,930,596 BLU Blue Energy Limited 0.01 25% 3181706 $14,807,789 DBO Diabloresources 0.02 25% 1983870 $2,689,854 DTM Dart Mining NL 0.0025 25% 10091666 $2,396,111 CAN Cann Group Ltd 0.016 23% 1108697 $8,466,991 IS3 I Synergy Group Ltd 0.011 22% 4113289 $15,356,699 WTM Waratah Minerals Ltd 0.75 22% 4837566 $143,610,044 DTR Dateline Resources 0.2 21% 57147520 $527,867,058 BB1 Blinklab Limited 0.53 20% 862076 $38,394,908 SOR Strategic Elements 0.042 20% 2378280 $16,586,467 FBR FBR Ltd 0.006 20% 4066783 $28,447,261 In the news… Activeport (ASX:ATV) has launched Australia's first 'private cloud networking superhighway', Private-Cloud Connect, swiftly bringing three new customers on board. The networking infrastructure product offers high speed data communication ports, connecting branch offices to private cloud services hosted in colocation data centres. With AI and data-heavy cloud computing gaining rapidly in property, ATV reckons there's a solid market to corner in connecting private business with high-powered data centres. Health and wellness food company OMG Group's (ASX:OMG) Blue Dinosaur snack products are set to be stocked in 750 7-Eleven stores across Australia as part of a ranging deal. OMG has been building strong sales momentum in recent months, increasing cash receipts by 42% to more than $1.6m quarter-on-quarter. ASX Laggards Today's worst performing stocks (including small caps): Code Name Last % Change Volume Market Cap GGE Grand Gulf Energy 0.001 -50% 31455 $5,640,850 BEL Bentley Capital Ltd 0.015 -42% 4318593 $1,979,326 DTM Dart Mining NL 0.002 -33% 21263802 $3,594,167 PRM Prominence Energy 0.002 -33% 255120 $1,459,411 SKK Stakk Limited 0.005 -29% 8192 $14,525,558 AQX Alice Queen Ltd 0.003 -25% 151531 $5,538,785 AYT Austin Metals Ltd 0.003 -25% 4674800 $6,336,765 MRQ Mrg Metals Limited 0.003 -25% 691143 $10,906,075 AQC Auspaccoal Ltd 0.008 -20% 7558757 $7,004,676 ARV Artemis Resources 0.004 -20% 350432 $14,328,361 OSX Osteopore Limited 0.008 -20% 8341781 $2,372,600 TMX Terrain Minerals 0.002 -20% 1446699 $6,329,536 VRC Volt Resources Ltd 0.004 -20% 27625 $23,424,247 OZM Ozaurum Resources 0.062 -17% 2193670 $17,182,640 SRK Strike Resources 0.029 -17% 150000 $9,931,250 EVE EVE Health Group Ltd 0.03 -17% 115684 $8,863,557 IXC Invex Ther 0.075 -17% 1332 $6,763,846 1AD Adalta Limited 0.0025 -17% 2078341 $3,463,949 FBR FBR Ltd 0.005 -17% 2494829 $34,136,713 GLL Galilee Energy Ltd 0.01 -17% 300000 $8,486,315 MRD Mount Ridley Mines 0.0025 -17% 323599 $2,335,467 SPQ Superior Resources 0.005 -17% 7554456 $14,225,896 TMK TMK Energy Limited 0.0025 -17% 12258062 $30,667,149 BVS Bravura Solution Ltd 2.02 -17% 13434796 $1,085,016,685 FNX Finexia Financialgrp 0.17 -15% 145035 $12,460,793 In Case You Missed It Legacy Minerals Holdings (ASX:LGM) has reported promising early diamond drilling results from the Thomson project in western New South Wales. DY6 Metals' (ASX:DY6) preliminary metallurgical testing of ore from the Tundulu rare earths and phosphate project in Malawi has identified the opportunity to produce a phosphoric acid grade flotation concentrate co-product. Sipa Resources (ASX:SRI) has wrapped up RC drilling and is preparing to get an aircore program underway at the Tunkillia North and Nuckulla Hill gold projects. Argenica Therapeutics (ASX:AGN) now has a clear path forward to clear the clinical hold currently in place on its investigational new drug application that will enable clinical trials for its lead drug ARG-007. Trading Halts
Times
19-05-2025
- Business
- Times
UK energy bills forecast to fall by 7 per cent this summer
Energy prices will fall by 7 per cent from July, taking a typical household bill to £1,720 a year, according to the final forecast before the regulator updates the price cap. Households are on course to see a reduction in their gas and electricity bills of about £129 a year on average, the consultancy Cornwall Insight predicts, after falls in wholesale gas prices triggered by President Trump's tariffs and the warm weather. However, the forecast saving is less than the consultancy had envisaged three weeks ago when it predicted that bills would drop by 9 per cent to £1,683 a year. It said that wholesale prices had increased again since then and it had updated its estimates of policy and network levies on bills. The
BBC News
19-05-2025
- Business
- BBC News
Energy price cap: What next for gas and electricity bills and can I fix?
Gas and electricity bills are expected to fall in July, when a new price cap takes is likely to reverse the increase for millions of households on 1 April, under the current annual bill for a household using a typical amount of gas and electricity rose to £1,849 per year, an increase of £111, in energy price cap sets the maximum amount customers can be charged for each unit of energy, but actual bills depend on how much gas and electricity you use. What is the energy price cap and how is it changing? The energy price cap covers around 22 million households in England, Wales and Scotland and is set every three months by fixes the maximum price that can be charged for each unit of energy on a standard - or default - variable tariff for a typical dual-fuel household which pays by direct 1 April and 30 June 2025, gas prices are capped at 6.99p per kilowatt hour (kWh), and electricity at 27.03p per means the annual bill for a dual-fuel direct debit household using a typical amount of energy is £1,849 per year. Those who pay their bills every three months by cash or cheque pay £1, cap does not apply in Northern Ireland, which has its own energy market. What is a typical household? Your energy bill depends on the overall amount of gas and electricity you use, and how you pay for type of property you live in, how energy efficient it is, how many people live there and the weather all make a difference. The Ofgem cap is based on a "typical household" using 11,500 kWh of gas and 2,700 kWh of electricity a year with a single bill for gas and electricity, settled by direct vast majority of people pay their bill this way to help spread payments across the year. Those who pay every three months by cash or cheque are charged more. Should I take a meter reading when the energy cap changes? Submitting a meter reading when the cap changes means you will not be charged for estimated usage at the wrong is especially important when prices go with working smart meters do not need to submit a reading as their bill is calculated automatically. What is happening to prepayment customers? Between April and June, households on prepayment meters are paying slightly less than those on direct debit, with a typical bill of £1,803, a rise of £113 from the previous four million households had prepayment meters in January 2025, according to Ofgem. Many have been in place for years, but some were installed more recently after customers struggled to pay higher introduced in November 2023 mean suppliers must give customers more opportunity to clear their debts before switching them to a meter. They cannot be installed at all in certain households. Can I fix my energy prices? Fixed-price deals are not affected by the energy price cap, which changes every three months and can go up or offer certainty for a set period - often a year, or longer - but if energy prices drop when you are on the deal, you could be stuck at a higher price. You may also have to pay a penalty to leave a fixed deal the energy regulator, says customers who want the security of knowing what their bill will be should consider moving to a fixed deal. However, it says they should make sure they understand all the Lewis, founder of Money Saving Expert, recommends checking whole-of-market energy price comparison sites to help find the best deal. What are standing charges and how are they changing? Standing charges are a fixed daily fee to cover the costs of connecting to gas and electricity supplies. They vary slightly by 1 April, the average electricity standing charge fell from 60.97p to 53.8p but the average gas standing charge increased from 31.65p to 32.67pSome customers in London and the North Wales and Mersey region saw larger argue standing charges are unfair because they make up a bigger proportion of the bill of low energy response, Ofgem has said that energy firms must provide a choice of price-capped tariffs from winter would have a standing charge and unit rate - as is the case now - and another no standing charge but a higher unit rate. However, the proposals have been criticised as being too complicated. What help can I get with energy bills? The Household Support Fund, which was introduced in September 2021 to help vulnerable customers, has been extended until March Warm Home Discount scheme continues to offer a discount to eligible pensioners and low income government's Fuel Direct Scheme can help people to repay an energy debt directly from their benefit addition, suppliers must offer customers affordable payment plans or repayment holidays if they are struggling with suppliers also offer hardship to the winter fuel payment mean more than 10 million pensioners have not received the money this Help with bills
