Australian Economy

29Metals plans to raise US 471 million in IPO

29Metals Plans to Raise Us 471 Million in IPO

Australian copper mining company 29Metals LTD, the country’s second-largest listed company, is seeking to raise U.S. 471 million in an initial public offering with its shareholders in Sydney. According to the terms of the deal, the company plans to issue new shares worth A$245 million. In comparison, existing shareholders, including EMR Capital Advisors, will issue …

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The Australian dollar may gain as the commodity prices soar

Asia-Pacific markets gained on Monday. However, they may decline slightly today as investors on Wall Street abandoned technology stocks. Valuation concerns, along with coronavirus pandemic worries, linger over the global economic backdrop.   On Tuesday, the tech-heavy Nasdaq 100 index tumbled down by 0.60%, while the Dow Jones Industrial Average ended the session 0.16% lower. …

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Tokyo Stock Exchange

Australia S&P/ASX 200 up 0.27%, Japan’s Nikkei 225 up 0.09%

Australia stocks edged higher after the close on Friday. As rises in the Gold, Metals & Mining, and Resources sectors, in particular, led shares higher. The S&P/ASX 200 rose 0.27% at the close in Sydney. On the S&P/ASX 200, the session’s best performers were Webjet Ltd, rising 7.42% or 0.33 points to trade at 4.78 …

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commodity

Who Suffers and Who Benefits from Rising Commodity Prices?

The surge in the price of energy, metals, and crops highlights some economies’ strengths and others’ vulnerabilities. Since November, oil prices have risen 75%. At the same time, the price of copper has reached levels not seen for a decade. Food prices have been increasing every month since May. Petrobras, Brazil’s state oil company, increased …

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Australia stocks

Australia to Offer Subsidized Flights to Support Tourism

Tourism, one of Australia’s biggest industries, is worth more than A$60 billion. It employs about 5% of the country’s workforce. However, the sector was crippled when the nation shut its international borders last year. As travel restrictions were imposed to curtail the spread of COVID-19, tens of thousands of Australians were left on the country’s …

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dollar, Safe-Haven Currencies rose against U.S. Dollar on Wednesday

U.S. dollar rebounded. How did the Aussie and the Kiwi fare?

The U.S. dollar soared on Wednesday, recovering some of the losses from the previous session. U.S. yields rebounded following their plunge from one-year highs, boosting the Dollar as well. On the other hand, riskier currencies, such as the Australian and New Zealand dollars, declined after hoarding big gains on Tuesday. The euro tumbled down by …

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Sydney Stock

Australia and Japan stocks go up; Nasdaq is in a correction

On the Sydney Stock Exchange, falling stocks exceeded advancing ones by 705 to 630, and 326 ended unchanged.  On Tuesday, Australia stocks were higher after the close, with gains in the Utilities, Industrials, and Healthcare sectors’ leading shares. The session’s best performers on the S&P/ASX 200 were Vocus Group Ltd. They rose 8.60% or 0.43 …

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