ASX

All eyes were on the materials sector on Friday, after BHP (ASX: BHP) lobbed a best and final bid for copper producer OZ Minerals (ASX: OZL). The offer of $28.25 per share was approved by the board and will now proceed to due diligence. Despite the size of the offer, the market barely moved with the S&P/ASX200 gaining 0.2 per but…

The long-running project has been shelved after a devastating Accenture report cited multiple areas of concern. ASIC chair Joe Longo said the ASX “failed to demonstrate appropriate control”.

The S&P/ASX200 managed another small gain on Thursday, adding 0.2 per cent as strength in all sectors barring energy and materials, down 2.1 and 1.2 per cent each, managed to offset losses in the coal mining companies. The biggest detractors were New Hope (ASX: NHC) and Whitehaven Coal (ASX: WHC) which lost more than 6 per cent each as coal prices…

The S&P/ASX200 fell 0.3 per cent on Wednesday, with 8 of the eleven sectors finishing the red led by utilities, down 1.5 and retailers, down 1.3 per per cent. The highlight once again was the energy and materials sectors, which gained 1.2 and 0.7 per cent. Shares in Oz Minerals (ASX: OZL) entered a trading…

The local market fell 0.1 per cent on Tuesday under the pressure of a weaker energy sector, down 0.9 per cent, after OPEC+ cut their expectations for oil demand in 2023 and beyond; shares in Beach Energy (ASX: BPT) fell 2.8 per cent. It was a similar story for the lithium sector, with broader commodities falling 1 per cent…

The local market finished slightly lower, down 0.2 per cent, as a jump in commodities, particularly iron ore, offset losses across every other sector. The materials sector gained 3.4 per cent along with energy, after the oil price moved about US$90 per barrel once again. Iron ore was the highlight with Champion (ASX:CIA) gaining 12 per cent, Fortescue (ASX:FMG)…

The local market rode the US inflation data wave, gaining 2.8 per cent on Friday, buoyed by the hope that interest rate hikes may be set to ease. Every sector finished higher outside of utilities, as Origin Energy (ASX:ORG) reversed 3.2 per cent as investors digest the recent takeover offer; the company was still up…

The local market weakened as crypto turbulence spread into global equity markets, with the S&P/ASX200 falling 0.5 per cent. Half of the markets sectors were lower, led by energy and technology, down 2.1 and 1.9 per cent respectively. The standout was utilities, which gained 13 per cent on the back of a massive takeover bid…

The local market was buoyed by an unexpected surge in the price of gold, which moved beyond US$1,700 per ounce once again. The result was a 2.5 per cent gain in the materials sector offsetting losses in eight of the remaining sectors with St Barbara (ASX:SBM) and Regis (ASX:RRL) the highlights, up 13 and 12.7…

The S&P/ASX200 gained another 0.4 per cent on Tuesday with a broad-based rally managing to overcome a selloff in the energy sector. The staples and utilities sectors were strongest gaining 1.3 and 1.4 per cent, with healthcare and financials not far behind. Energy, however, fell by more than 2.3 per cent on a weaker oil…