Incitec Pivot faces $148M loss; Aristocrat reports strong growth; GrainCorp stabilizes operations. Copper Warrants (ZHGKOB) highlighted as trade of the week amid supply shortages and record prices.
The S&P/ASX 200 surged on Thursday as the jobless rate rose faster than expected to 4.1%, indicating an economic slowdown aligning with Reserve Bank forecasts.
Sell 3% of Incitec Pivot Limited (ASX: IPL). The ongoing divestment of its Fertilisers business introduces significant complexity and uncertainty, impacting financial stability.
Ahead of the federal budget, Australian shares saw modest declines, with the S&P/ASX 200 dropping by 0.4 percent as the market reacted to a flat performance on Wall Street and awaited crucial inflation data from the US. The real estate sector felt the brunt of the losses, dipping 0.9 percent, influenced by interest rate sensitivities.
The Australian Stock Exchange saw gains, led by energy companies as optimism over China’s economic rebound and rising commodity prices fueled market enthusiasm.
The investor sentiment pattern, in the US equity market in particular, is of extreme selective hearing with any weakness in the economy cheered because it will trigger rate cuts, while any strength in the economy is cheered as “proof” of a soft landing.
Australian shares fall sharply with retailers and banks hit hard by rising living costs and dampened consumer spending, signaling tougher economic times ahead.
Economic Calendar – May 2024 Economic Calendar – May 2024 Monday Tuesday Wednesday Thursday Friday Saturday Sunday 29🏦[All Day] JP – Bank Holiday🛑[All Day] EU
This action secures a solid 25% profit on half of our investment, aligning with our initial risk management and profit-taking strategy. By locking in gains, we protect our portfolio against unforeseen market volatilities while capitalizing on our successful positioning.
The recent legislative changes in the U.S., banning the import of Russian enriched uranium, have precipitated a notable shift in the uranium market dynamics.
This website provides general advice that does not take into account your individual objectives, financial situation, or needs. Past performance does not guarantee future results. The trade recommendations in our Pilot Portfolios are hypothetical, may exclude certain fees, and are not a basis for future investment decisions. Please do not rely solely on this information. We recommend seeking appropriate financial, taxation, and legal advice before making any investment decisions. Please refer to our Financial Services Guide for more information about our services.