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COOT News24 articles
Australian Mortgage Rates Persist as Spending Debate Intensifies
Australian and US mortgage rates stay elevated as RBA warns of possible hikes. Brokers cite discretionary spending as key issue for home buyers.
IREN Surges on $3.65B GPU Deal and 800MW Australian Data Center
IREN shares climbed to $66.60 premarket on news of an 800 MW Australian data-center plan and a $3.65 billion GPU financing deal for its Microsoft contract. Canaccord raised its target to $79.
Transocean Shares Flat as Australian Drilling Contract Signed; Valaris Merger Awaits
Transocean shares closed nearly unchanged at $6.25 after Carnarvon Energy hired a rig for 2027 drilling, but the stock's outlook hinges on backlog growth and the Valaris merger.
3M Faces $1.4 Billion Australian PFAS Lawsuit Over Defense Site Contamination
Australia filed a lawsuit seeking over A$2 billion ($1.43 billion) from 3M over PFAS contamination at 28 defense sites. 3M shares fell 1.5% on the news but closed the week at $153.13, up 0.5%.
ASX Plunge on Cost Warning Drags Australian Market Lower
ASX Ltd shares tumbled as much as 12.6% on Tuesday after the exchange operator flagged a sharp rise in technology and regulatory spending, dragging the S&P/ASX 200 index 0.4% lower.
Australian Stocks Hit Two-Week Peak, Mining Rally Offsets Energy Sector Decline
The S&P/ASX 200 closed at 8,692, its highest in two weeks, as mining and gold stocks rallied. Energy shares fell on lower crude oil prices. April inflation data is due Wednesday.
Australian Shares Rise as Market Awaits Key Inflation Data
The ASX 200 rose 0.41% to 8,657 on Friday, ahead of crucial April inflation data that could shape RBA policy. Miners and energy stocks outperformed.
Guzman y Gomez Exits US Market, Shares Surge on Return to Australian Focus
Guzman y Gomez exits the US market immediately, closing all Chicago locations. Shares rose up to 20% on Friday as investors cheered the strategic pivot back to Australia, with FY26 Australia EBITDA guidance raised to A$85 million.
Australian Shares Tumble on US-Iran Tensions, CSL Plunges 18%
Australian shares opened lower as US-Iran tensions escalate and CSL's 18% plunge drags healthcare down 8%. Energy stocks provide the only bright spot.
Microsoft Stock Dips on Record $18B Australian AI Deal Amid Sector Selloff
Microsoft shares dropped about 2% in premarket trading after unveiling a record A$25 billion ($17.9 billion) AI investment in Australia, as tech stocks broadly declined on growth concerns from IBM and ServiceNow.
Ripple's Australian License Bid Supports XRP Near $1.40 Amid Market Caution
XRP held near $1.40, down 1.4%, as Ripple announced a deal to secure an Australian Financial Services Licence. Broader cryptocurrency markets remained subdued amid macroeconomic concerns.
XRP Consolidates Near $1.38 Amid Australian License Bid and CPI Caution
XRP held near $1.38, retreating from a $1.44 peak, as Ripple moved to acquire a payments firm for an Australian license. The broader cryptocurrency market declined ahead of key U.S. inflation figures.
IREN Partners with Sydney Swans, Cites Infrastructure Hurdles for Australian Data Centers
IREN has secured a sponsorship deal with the Sydney Swans as their Official AI Cloud Partner for the 2026 AFL season. The company, however, has not committed to constructing data centers in Australia, citing permitting and power connection challenges.
Australian Dollar Eyes Key GDP Data Amid Analyst Divergence
The Australian dollar is holding near 0.7100 against the U.S. dollar, with major banks forecasting further gains. All eyes are on upcoming GDP data, with crowded speculative positions raising the risk of a sharp market move.
Australian Dollar Eyes Key GDP Data Amid Analyst Optimism
The Australian dollar stabilizes near 0.7100 as analysts project a rise toward 73-75 U.S. cents by year-end, with immediate focus on Wednesday's GDP data and geopolitical risks.
Australian Banks Slip as Oil Spike Sparks Inflation Fears; GDP Data Awaited
Westpac shares fell 1.74% amid a broad selloff in Australian bank stocks, driven by a nearly 10% surge in Brent crude following Middle East tensions. The ASX 200 closed flat at a record high.
Australian Banks Slip as Oil Spike Sparks Inflation Fears; GDP Data Awaited
Westpac shares dropped 1.74% as a sharp rise in oil prices triggered a sell-off in Australian bank stocks. The broader ASX 200 closed flat at a record high, supported by energy gains.
Australian Pension Boost Arrives March 20, Deeming Rate Hike May Offset Gains
Millions of Australian welfare recipients will see payment increases from March 20, though a simultaneous rise in deeming rates may trim benefits for some pensioners.
ANZ Leads Australian Bank Rally Ahead of Key Inflation Data
ANZ Group Holdings led a broad rally among Australia's major banking stocks on Thursday, with shares closing 2.14% higher. Investor focus now shifts to upcoming inflation figures and the Reserve Bank's policy meeting.
Albemarle Idles Australian Lithium Plant Amid Price Pressure
Albemarle shares dropped sharply after idling its Kemerton lithium processing unit in Australia. China's battery-grade lithium carbonate prices rose slightly, but spot trading remained sluggish.
NAB Shares Climb as Australian Financials Hit Multi-Month High
National Australia Bank shares advanced 1.45% to A$43.99, leading a sector rebound. Investors await the bank's first-quarter trading update due February 18.
Reliance Industries Faces Dual Catalysts: Russian Crude Shift and Australian Acquisition
Reliance Industries shares are poised for attention as reports indicate Indian refiners are avoiding new Russian crude contracts, while its consumer arm secures a majority stake in Australia's Goodness Group.
Australian Bank Stocks Face Pressure Amid Rate Hikes and Upcoming Earnings
National Australia Bank shares declined 1.6% as the broader ASX 200 fell nearly 2%. Major banks are raising mortgage rates following the RBA's increase, with key financial updates due in February.
Reliance Industries Gains on Australian Beverage Acquisition Ahead of Market Reopening
Reliance Industries shares rose 0.5% to 1,450.80 rupees Friday after its consumer unit acquired a majority stake in Australia's Goodness Group Global. The stock remains 10% below its 52-week high.