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Trending stories and market-moving news from the ASX small-cap sector
Weekly wrap: Harsh day on ASX wipes off $40 billion
Another bruising day on the Australian share market on Friday saw it shed almost $40 billion and sink to a six-month low as hopes for US rate cuts once again diminished. The ASX 200 dropped by 136.20 points, or 1.6%, to 8416.50 points as AI worries in the US transferred directly to our market.
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Wrap: Four months of gains wiped out in $37 billion rout
A combination of increasing doubts about interest rate cuts, worries about AI overvaluation and a share crunch on Wall Street combined to strip four months of growth off the Australian share market.
Weekly Wrap: Is this the end of rate cuts? ASX tumbles as banks slide
Some heavy losses in the banking sector saw the Australian share market record its second consecutive weekly loss as the prospect of no further interest rate falls began to sink in. With the Reserve Bank deciding to hold the cash rate steady during the week the ASX 200 index dropped 58.6 points, or 0.7% on Friday to 8769.7 points. It was an uneven and concentrated fall with six out of the 11 sectors remaining in positive territory but the index still fell 1% for the week.
Market Wrap: Gold miners lose the tug of war with Consumer Stocks
A tug of war between rising gold miners and a souring consumer sector saw the Australian share market end the week basically flat on Friday. By the close the ASX 200 had fallen just 3.6 points or less than 0.1% to 8881.9 points, although the index had fallen 1.7% for the week. A fairly negative lead in from Wall Street didn’t help with shares in Facebook parent Meta falling, dragging down the rest of the magnificent seven mega-cap technology stocks and causing all three major US indices to drop.
Latest Hot Topics
Fraser Institute says fracking bans costing billions in Nova Scotia and New Brunswick
Canada’s Fraser Institute says bans on hydraulic fracturing have led to billions of dollars’ worth of shale gas potential in both Nova Scotia and New Brunswick going undeveloped. In a new report, the independent public policy think tank says the shale gas reserves have a potential long-term market value of between C$47b and C$190b. Kenneth […]
Oil prices fall as OPEC+ sticks to voluntary production hike timeline
The eight OPEC+ countries that previously announced additional voluntary production adjustments in April and November 2023 have agreed to move ahead with planned output hikes, starting in April. The decision came as a surprise to some commentators, with market consensus suggesting the group would postpone the restart as they had done three times since the […]
Canada extends mineral exploration tax credit to support early-stage development
Canada’s minister for Natural Resources has confirmed that the government is extending its 15% mineral exploration tax credit by two years. Speaking at the annual Prospectors & Developers Association of Canada (PDAC) convention in Toronto, Minister Jonathan Wilkinson said the tax credit tax credit is expected to create approximately $780 million in flow-through share investment […]
Anglo American sells nickel assets to MMG as part of strategic refocus
Anglo American has sold its nickel arm for US$500m to a Singapore-based subsidiary of MMG as part of a plan to tighten its business. The company’s nickel business comprises two ferronickel operations in Brazil – Barro Alto and Codemin – and two large greenfield growth projects, Jacaré and Morro Sem Boné. The Barro Alto mine, […]
PDAC announces recipients of annual exploration and mining awards
The Prospectors & Developers Association of Canada (PDAC) has announced the recipients of the 2025 PDAC Awards which recognise outstanding performance in global exploration and mining. Since the awards were established in 1977, they have become a symbol of excellence, recognising individuals, teams and organisations which have made significant contributions to the exploration and development […]
Canadian government steps up investment in critical minerals
While various parties around the world have decided to cut back on their spending on critical mineral exploration and development, Canada’s government has chosen to make significant investments in commodities such as lithium and rare earths. The provinces of Saskatchewan and Alberta, in particular, have received substantial cash injections. The government has identified 34 critical […]
Canada increases capital gains tax for wealthy individuals and companies
Canada’s government has announced it will raise capital gains taxes on companies and wealthy individuals to help pay for billions in new spending aimed at making housing more affordable and improving the lives of young people. The nation’s latest budget was tabled this week with a host of spending promises to increase housing supply and […]
PDAC calls for Canadian government to provide further mining support
Leading Canadian mining industry body Prospectors & Developers Association of Canada (PDAC) has written to the nation’s government with a number of suggestions which it believes can help improve the local industry’s global standing. While PDAC, which represents some 7000 members and host to the world’s largest mining event, was encouraged by the moves the […]