The surprised analyst who sparked a $55 billion ASX selloff The analyst at the centre of a global commodity selloff is as surprised as anyone at the savagery of the mining stock slump that followed the publication of his research note on commodity company Glencore. Tuesday’s market turmoil in Australia, chiefly amongst mining and energy […]
A quarter to forget on the ASX, and the next isn’t looking great
[vc_row][vc_column][vc_column_text]A quarter to forget on the ASX, and the next isn’t looking great The Australian sharemarket has suffered its worst quarter in four years, and fund managers say the volatility that characterised it is likely to continue into the fourth quarter, led by the global themes of China and US interest rates. The benchmark S&P/ASX 200 […]
need2know: Miners may drag on ASX
need2know: Miners may drag on ASX Local shares are poised to open flat, though weakness in commodities may weigh on resource producers. What you need2know SPI futures down 2pts at 5550 AUD at 73.75 US cents, 91.44 Japanese yen, 67.54 Euro cents and 47.26 British pence On Wall St, S&P 500 -0.2%, Dow -0.4%, Nasdaq -0.7% In […]
Skilled Group swallowed by rival Programmed Maintenance
Skilled Group swallowed by rival Programmed Maintenance Programmed Maintenance’s acquisition of Skilled Group with a sweetened offer of $1.79 per share is highly symbolic of what’s happening to the Australian economy as the mining boom fades. Frank Hargrave was a self-employed electrician who set up Australia’s first contract labour business in 1964, outsourcing the services […]
ASIC investigates Padbury’s botched $6b Oakajee deal
The Australian Securities and Investments Commission has launched civil proceedings against resources minnow Padbury Mining and its chief executive Gary Stokes over a botched $6 billion financing deal for the Oakajee port and rail project in Western Australia. In April last year Padbury, with a market capitalisation of just $70 million, told investors it had found an […]