The S&P/ASX 200 closed 19.9 points lower, down 0.24%.
On the surface it looked like a quiet day on the benchmark S&P/ASX 200, a modest 0.24% fall...but this was around half a percent up from the session's low.
Lovisa (LOV) and Star Entertainment Group (SGR) were in the spotlight for the wrong reasons today – both suffering big falls. Lovisa's >10% decline came at the hands of a rating downgrade and price target cut from major broker UBS, while Star provided a disappointing update on its present liquidity (hint: it's rapidly running out of 💰!)
Gold stocks were about the only place to hide today, but losses were limited in the broader market, with Consumer stocks some of the hardest hit despite strong retail sales data.
Click/scroll through for the usual reporting of the major sector and stock-specific moves, the broker responses to them, as well as all the key upcoming economic data in tonight's Evening Wrap.
Also, I have detailed technical analysis on Gold and Brent Crude Oil in today's ChartWatch.
Let's dive in!
Today in Review
Thu 09 Jan 25, 4:56pm (AEDT)
Name
Value
% Chg
Major Indices
ASX 200
8,329.2
-0.24%
All Ords
8,577.8
-0.25%
Small Ords
3,119.4
-0.70%
All Tech
3,856.8
-0.49%
Emerging Companies
2,307.2
-0.42%
Currency
AUD/USD
0.62
-0.25%
US Futures
S&P 500
5,948.0
-0.19%
Dow Jones
42,819.0
-0.14%
Nasdaq
21,319.75
-0.19%
Name
Value
% Chg
Sector
Utilities
9,101.8
+0.67%
Materials
16,222.9
+0.07%
Health Care
46,068.0
+0.01%
Communication Services
1,654.7
-0.14%
Real Estate
3,865.6
-0.23%
Financials
8,887.6
-0.26%
Consumer Discretionary
3,987.6
-0.35%
Energy
8,875.7
-0.36%
Information Technology
2,781.2
-0.46%
Consumer Staples
11,734.6
-0.81%
Industrials
7,730.2
-0.93%
Markets
ASX 200 Session Chart
The S&P/ASX 200 (XJO) finished points lower at 8,329.2, 0.45% from its session low, and admirably given how the day started, just 0.25% from its high. Despite the fighting performance in the benchmark, in the broader-based S&P/ASX 300 (XKO), advancers lagged decliners by a dismal 80 to 200.
A bit of a nothing day today on the surface, but probably a good one to dodge in terms of five up-days, lousy leads from the US, and another rise in long term risk-free yields...we were kind of destined to be down today but in many ways we weren't.
S&P/ASX 200 (XJO) chart - It's always reassuring to see those downward pointing shadows! (
for full size image)
I say this because the 0.45% rally from today's low creates a downward pointing shadow on the XJO chart – which we know is associated with latent excess demand. Given all the uncertainties and headlines about overvaluations, Trump tariffs, and general 2025 doom and gloom scenarios, it's always reassuring to see those downward pointing shadows! 🤞
Company
Last Price
Change $
Change %
1mo %
1yr %
Ora Banda Mining (OBM)
$0.715
+$0.055
+8.3%
+5.9%
+197.9%
Arcadium Lithium (LTM)
$9.13
+$0.67
+7.9%
+15.0%
-12.1%
Firefly Metals (FFM)
$0.960
+$0.05
+5.5%
-7.2%
+51.2%
Pro Medicus (PME)
$269.38
+$10.
+3.9%
+0.5%
+200.1%
Bravura Solutions (BVS)
$2.28
+$0.07
+3.2%
+3.2%
+188.6%
Northern Star Resources (NST)
$16.53
+$0.47
+2.9%
+1.1%
+28.7%
Select Harvests (SHV)
$4.50
+$0.12
+2.7%
+5.9%
+59.8%
Newmont Corporation (NEM)
$62.72
+$1.57
+2.6%
-2.0%
+5.4%
Vulcan Energy Resources (VUL)
$5.81
+$0.14
+2.5%
-8.1%
+129.6%
Nanosonics (NAN)
$3.12
+$0.07
+2.3%
-4.6%
-24.1%
Pinnacle Investment Management Group (PNI)
$23.63
+$0.53
+2.3%
-3.2%
+137.2%
Australian Clinical Labs (ACL)
$3.58
+$0.08
+2.3%
-1.1%
+27.0%
West African Resources (WAF)
$1.585
+$0.035
+2.3%
-1.2%
+74.2%
Sandfire Resources (SFR)
$9.51
+$0.21
+2.3%
-7.0%
+40.5%
Cleanaway Waste Management (CWY)
$2.75
+$0.06
+2.2%
-3.5%
+3.8%
Netwealth Group (NWL)
$30.41
+$0.64
+2.2%
-0.1%
+96.6%
De Grey Mining (DEG)
$1.910
+$0.04
+2.1%
0%
+63.6%
Evolution Mining (EVN)
$5.11
+$0.1
+2.0%
+0.6%
+34.8%
Fortescue (FMG)
$17.91
+$0.34
+1.9%
-8.1%
-35.5%
Bellevue Gold (BGL)
$1.080
+$0.02
+1.9%
-20.6%
-27.3%
MA Financial Group (MAF)
$6.02
+$0.11
+1.9%
-5.5%
+7.9%
Hub24 (HUB)
$72.96
+$1.33
+1.9%
-4.2%
+104.7%
Macquarie Group (MQG)
$234.10
+$4.04
+1.8%
+1.4%
+31.2%
Pexa Group (PXA)
$13.15
+$0.22
+1.7%
+1.9%
+22.3%
Sims (SGM)
$12.62
+$0.19
+1.5%
-1.8%
-10.4%
Best stocks on the ASX today
Company
Last Price
Change $
Change %
1mo %
1yr %
Westgold Resources (WGX)
$2.53
-$0.4
-13.7%
-13.1%
+31.8%
Avita Medical (AVH)
$3.05
-$0.46
-13.1%
-21.0%
-19.1%
Lovisa (LOV)
$26.75
-$3.14
-10.5%
-12.0%
+16.4%
Appen (APX)
$2.81
-$0.22
-7.3%
+30.1%
+393.0%
Droneshield (DRO)
$0.785
-$0.055
-6.5%
+17.2%
+112.2%
GQG Partners (GQG)
$1.940
-$0.13
-6.3%
-6.7%
+15.5%
Liontown Resources (LTR)
$0.560
-$0.035
-5.9%
-10.4%
-63.6%
Clarity Pharmaceuticals (CU6)
$3.98
-$0.24
-5.7%
-27.9%
+97.6%
Mesoblast (MSB)
$2.81
-$0.15
-5.1%
+69.3%
+886.0%
Weebit Nano (WBT)
$2.94
-$0.15
-4.9%
+2.8%
-25.0%
Nuix (NXL)
$5.90
-$0.29
-4.7%
-11.4%
+174.4%
WA1 Resources (WA1)
$13.44
-$0.6
-4.3%
-0.4%
-8.8%
Megaport (MP1)
$6.78
-$0.29
-4.1%
-12.5%
-20.3%
Paladin Energy (PDN)
$7.95
-$0.33
-4.0%
+4.3%
-21.7%
Audinate Group (AD8)
$7.01
-$0.29
-4.0%
-10.1%
-56.9%
Computershare (CPU)
$33.58
-$1.19
-3.4%
+1.8%
+36.7%
Boss Energy (BOE)
$2.63
-$0.09
-3.3%
+1.9%
-42.7%
Reliance Worldwide Corporation (RWC)
$5.02
-$0.16
-3.1%
-6.3%
+17.6%
Silex Systems (SLX)
$5.97
-$0.19
-3.1%
+1.0%
+47.4%
Neuren Pharmaceuticals (NEU)
$12.08
-$0.38
-3.1%
-5.6%
-51.3%
Worst stocks on the ASX today
We continue our catch up of local and global indices, commodities, bonds and more in ChartWatch this evening with a look at the charts of Gold and Brent Crude Oil.
ChartWatch
Gold Futures (Front month, back-adjusted) COMEX
Gold has gone cold 🧊 as risk-free yields run hot 🔥 (click here for full size image)
The last time we covered gold was in ChartWatch in the Evening Wrap on 11 December.
In that update, just before the last massive leg up in long term risk-free rates, gold was actually starting to look good again after the Trump slump.
Gold hates higher risk-free yields. It doesn’t have a yield, and worse, you usually have to pay someone to sit on your gold with a shotgun.
US 10-year T-Bonds, i.e., imaginary IOU’s from Uncle Sam (click here for full size image)
This means there’s a substantial opportunity cost to owning gold compared to risk-free bonds which are considered to be a competing safe haven asset class…but it depends on your definition of “safe”.
Are long term imaginary IOU’s from Uncle Sam actually safe? 🤔
Perhaps this is why gold has largely held its own during the long term yield melt-up in the US 10’s yield – which tipped an eye watering 4.73% last night…😱
As can be seen by the main above chart, gold’s short term trend is neutral, and it’s long term trend remains solidly set to the upside. In summary, Gold hasn’t prospered over the last 6 weeks, but higher rates haven’t dealt it a deathblow either.
Neutral is the obvious call here, until either:
Bullish: Close above 2761.3 (but really probably 2826.8)
Bearish: Close below 2566.5 (but really probably below the dynamic demand of the long term uptrend ribbon, presently bottoming out around 2530)
Between these, it’s likely to be more chop.
Still, it’s always worth watching candles and price action for potential early signs of a pending bullish / bearish course of action. You know the drill here:
Bullish: Candles with white bodies and or downward pointing shadows; Price action of rising peaks and rising troughs
Bearish: Candles with black bodies and or upward pointing shadows; Price action of falling peaks and falling troughs
Brent has put a dent in overhead supply (click here for full size image)
The last time we covered Brent was in ChartWatch in the Evening Wrap on 18 December.
In that update, it was stuck in a well-defined trading range between 67.10 and 79.89, but mainly chopping in a narrower range between 67.74 and 75.32.
A New Year rally has pushed Brent through supply at 75.32, and up to challenge the major supply zone of 78.45-79.89. This zone appears to be well defended, though, as per yesterday's solid supply side candle (it’s the second last candle in the chart above).
Supply is there and its credible.
I see demand at 75.32, and if Brent can hold this level with some decent demand-side candles, there’s a good chance it can continue its new short term uptrend to retest 78.45-79.89.
That’s probably as far as we want to get ahead given circumstances, but you know to watch candles in the supply zone to determine if a future rally is sustainable (demand-side candles are a must!).
Expect both short and long term trend ribbons to also act as demand zones (dynamic), and as long as Brent continues to trade above those it’s in reasonable shape.
Below them, and or with the logging of a lower peak to 77.89 accompanied by supply-side candles – we could be cooling our heels back in the trading range for the indefinite future…
Economy
Today
11:30 AUS Retail Sales November m/m
+0.8% vs +1.0% forecast and +0.6% in October
November's gain was the biggest increase in 10 months and equates to a +3.0% p.a. growth rate, and whilst a slight miss on expectations, still indicating strong consumer activity
Fairly neutral in terms of RBA calculations, March 31- April 1 meeting still most likely timing of first 0.25% rate cut
CHN Consumer Price Index (CPI) & Producer Price Index (PPI) December y/y
CPI: +0.1% as forecast vs +0.2% in November
PPI: -2.3% vs -2.4% forecast and -2.5% in November
Slightly better than expected on the PPI, either way, there's nothing in either that prevents Beijing from proceeding with stimulus on the basis of any inflation concerns
Later this week
Saturday
00:30 USA Non-Farm Employment Change December (+154,000 forecast vs +227,000 in November)
00:30 USA Unemployment Rate (4.2% forecast vs 4.2% in November)
00:30 USA Average Hourly Earnings December m/m (+0.3% forecast vs +0.4% in November)
Latest News
Materials bhp rio
BHP and Rio Tinto stumbled in 2024. Should you buy the dip this year?
Thu 09 Jan 25, 11:37am (AEDT)
Copper
Copper rallies to a near four-month high – A breakout or fakeout?
Morning Wrap: ASX 200 to fall, S&P 500 and Nasdaq flat + Copper and gold prices tick higher
Thu 09 Jan 25, 8:36am (AEDT)
Market Wraps 4dx a4n
Evening Wrap: ASX 200 logs solid gain as investors scout bargains in mining sector: lithium, iron ore and gold stocks best
Wed 08 Jan 25, 5:54pm (AEDT)
Markets ilu wor
Goldman Sachs names 2 high conviction ASX stocks with over 35% upside for 2025
Wed 08 Jan 25, 3:59pm (AEDT)
More News
Interesting Movers
Trading higher
+8.3% Ora Banda Mining (OBM) - No news, initiated at buy at Moelis, price target set at $0.84
+7.9% Arcadium Lithium (LTM) - Final hurdle to RIO takeover cleared overnight with approval of the deal by the US Committee on Foreign Investment
+5.5% Firefly Metals (FFM) - No news, generally stronger ASX gold sector today (2 decent days of gains now…) as the gold price continues to firm (see ChartWatch section above for technical analysis on gold)
+3.9% Pro Medicus (PME) - No news, rise is consistent with prevailing short and long-term uptrends, a regular in ChartWatch ASX Scans Uptrends lists 🔎📈
+3.2% Bravura Solutions (BVS) - No news, rise is consistent with prevailing short and long-term uptrends, a regular in ChartWatch ASX Scans Uptrends lists 🔎📈
+2.9% Northern Star Resources (NST) - No news, ditto generally strong ASX gold stocks today
+2.7% Select Harvests (SHV) - Becoming a substantial holder, rise is consistent with prevailing short and long-term uptrends, a recent regular in ChartWatch ASX Scans Uptrends lists 🔎📈
+2.6% Newmont Corporation (NEM) - No news, ditto generally strong ASX gold stocks today
Trading lower
-33.3% The Star Entertainment Group (SGR) - Update on cash and liquidity, fall is consistent with prevailing short and long-term downtrends, one of the most Featured stocks in ChartWatch ASX Scans Downtrends lists in 2024! 🔎📉
-13.7% Westgold Resources (WGX) - Group Production Lifts in Q2, FY25
-13.1% Avita Medical (AVH) - No news, continued negative response to yesterday's AVH Updates Expected Q4 & FY24 Revenue, FY25 Guidance
-10.5% Lovisa (LOV) - No news, downgraded to sell from neutral at UBS and price target cut to $27 from $29, fall is consistent with prevailing short-term downtrend, long-term trend is transitioning from up to down, a recent regular in ChartWatch ASX Scans Downtrends lists 🔎📉
-7.4% Chalice Mining (CHN) - No news, fall is consistent with prevailing short and long-term downtrends, a regular in ChartWatch ASX Scans Downtrends lists 🔎📉
-7.3% Appen (APX) - No news, pullback after recent strong rally as ASX tech stocks suffer second day of losses
-7.1% Cettire (CTT) - Change in substantial holding, fall is consistent with prevailing short and long-term downtrends, a regular in ChartWatch ASX Scans Downtrends lists 🔎📈
-6.5% Droneshield (DRO) - No news, consistent with recent volatility since Monday's $9.7 million Latin American contract
-6.3% GQG Partners (GQG) - No news, continued negative response to yesterday's FUM as at 31 December 2024
-6.3% Ioneer (INR) - No news, fall is consistent with prevailing short and long-term downtrends, a regular in ChartWatch ASX Scans Downtrends lists 🔎📉
-5.9% Liontown Resources (LTR) - No news, fall is consistent with prevailing short and long-term downtrends, a regular in ChartWatch ASX Scans Downtrends lists 🔎📉
-5.7% Clarity Pharmaceuticals (CU6) - No news, fall is consistent with prevailing short and long-term downtrends, a regular in ChartWatch ASX Scans Downtrends lists 🔎📉
Broker Notes
29METALS (29M)
Retained at sell at Canaccord Genuity; Price Target: $0.21 from $0.22
AGL Energy (AGL)
Retained at overweight at Morgan Stanley; Price Target: $12.88
AMP (AMP)
Retained at neutral at Macquarie; Price Target: $1.70
Retained at hold at Ord Minnett; Price Target: $1.70
Austin Engineering (ANG)
initiated at buy at Bell Potter; Price Target: $0.86
ASX (ASX)
Retained at lighten at Ord Minnett; Price Target: $60.70
Challenger (CGF)
Retained at buy at Ord Minnett; Price Target: $6.85
Computershare (CPU)
Downgraded to neutral from outperform at Macquarie; Price Target: $34.00 from $28.00
Retained at accumulate at Ord Minnett; Price Target: $36.25
Core Lithium (CXO)
Retained at neutral at Goldman Sachs; Price Target: $0.08 from $0.09
Genesis Minerals (GMD)
Downgraded to hold from buy at Moelis Australia; Price Target: $3.00 from $2.90
Hillgrove Resources (HGO)
Retained at buy at Canaccord Genuity; Price Target: $0.10
Insurance Australia Group (IAG)
Retained at accumulate at Ord Minnett; Price Target: $9.45
IGO (IGO)
Retained at sell at Canaccord Genuity; Price Target: $4.30 from $4.60
Retained at buy at Goldman Sachs; Price Target: $6.05 from $6.20
Lovisa (LOV)
Downgraded to sell from neutral at UBS; Price Target: $27.00 from $29.00
Liontown Resources (LTR)
Retained at hold at Canaccord Genuity; Price Target: $0.60 from $0.80
Retained at neutral at Goldman Sachs; Price Target: $0.71 from $0.87
Metals Acquisition (MAC)
Retained at buy at Canaccord Genuity; Price Target: $21.25 from $22.00
Magellan Financial Group (MFG)
Retained at neutral at Goldman Sachs; Price Target: $11.00 from $10.10
Metals X (MLX)
Retained at hold at Canaccord Genuity; Price Target: $0.43 from $0.45
Medibank Private (MPL)
Retained at buy at Ord Minnett; Price Target: $4.25
Macquarie Group (MQG)
Retained at overweight at Morgan Stanley; Price Target: $248.00
NIB (NHF)
Retained at buy at Ord Minnett; Price Target: $6.90
Nickel Industries (NIC)
Retained at hold at Canaccord Genuity; Price Target: $0.85 from $1.00
Ora Banda Mining (OBM)
Initiated at buy at Moelis Australia; Price Target: $0.84
Origin Energy (ORG)
Retained at underweight at Morgan Stanley; Price Target: $8.86
Pilbara Minerals (PLS)
Retained at buy at Canaccord Genuity; Price Target: $3.60 from $3.90
QBE Insurance Group (QBE)
Retained at buy at Goldman Sachs; Price Target: $22.50
Retained at hold at Ord Minnett; Price Target: $21.90
Steadfast Group (SDF)
Retained at buy at Ord Minnett; Price Target: $7.15
Sandfire Resources (SFR)
Upgraded to buy from hold at Canaccord Genuity; Price Target: $10.75 from $11.25
Summit Minerals (SUN)
Retained at accumulate at Ord Minnett; Price Target: $20.35
Scans
Top Gainers
Code
Company
Last
% Chg
MGU
Magnum Mining and...
$0.013
+30.00%
D3E
D3 Energy Ltd
$0.068
+23.64%
VRX
VRX Silica Ltd
$0.052
+20.93%
PIM
Pinnacle Minerals...
$0.06
+20.00%
GR8
Great Dirt Resour...
$0.16
+18.52%
View all top gainers
Top Fallers
Code
Company
Last
% Chg
NTD
Ntaw Holdings Ltd
$0.17
-34.62%
SGR
The Star Entertai...
$0.13
-33.33%
MRZ
Mont Royal Resour...
$0.03
-30.23%
SBW
Shekel Brainweigh...
$0.026
-29.73%
XPN
Xpon Technologies...
$0.011
-21.43%
View all top fallers
52 Week Highs
Code
Company
Last
% Chg
AKA
Aureka Ltd
$0.17
+17.24%
RXL
ROX Resources Ltd
$0.24
+11.63%
VR1
Vection Technolog...
$0.039
+11.43%
NFM
New Frontier Mine...
$0.02
+5.26%
RBD
Restaurant Brands...
$3.75
+5.04%
View all 52 week highs
52 Week Lows
Code
Company
Last
% Chg
NTD
Ntaw Holdings Ltd
$0.17
-34.62%
SGR
The Star Entertai...
$0.13
-33.33%
MRZ
Mont Royal Resour...
$0.03
-30.23%
CDD
Cardno Ltd
$0.15
-18.92%
RVT
Richmond Vanadium...
$0.185
-9.76%
View all 52 week lows
Near Highs
Code
Company
Last
% Chg
PCI
Perpetual Credit ...
$1.165
-0.43%
WVOL
Ishares MSCI Worl...
$41.99
+0.41%
AII
Almonty Industrie...
$1.07
-0.47%
VVLU
Vanguard Global V...
$73.50
-0.34%
IHD
Ishares S&P/ASX D...
$14.44
-0.41%
View all near highs
Relative Strength Index (RSI) Oversold
Code
Company
Last
% Chg
GRR
Grange Resources Ltd
$0.20
-4.76%
ZIM
Zimplats Holdings...
$11.91
-3.17%
CUV
Clinuvel Pharmace...
$11.46
-2.63%
NTD
Ntaw Holdings Ltd
$0.17
-34.62%
SEK
Seek Ltd
$21.97
-0.81%
View all RSI oversold
Risk Warnings and Disclaimers
You understand and acknowledge that there is a high degree of risk involved in trading. Following any strategies or investment methods may lead to potential losses. The content on the site is provided by our contributors and analysts for information purposes only. You are solely responsible for determining whether any trading assets, securities, strategy, or any other product is suitable for investing based on your own investment objectives and financial situation.
Add to Favorites
Share
Australian Shares Flat, Rio Tinto's Proposed Acquisition of Arcadium Lithium Obtains US Clearance
Australian shares were flat on Thursday's close, tracking Wall Street markets, as investor concerns rise ahead of jobs data and a possible emergency declaration on inflation.
The S&P/ASX 200 Index changed little to close at 8,329.2.
A report saying that President-elect Trump may use the International Economic Emergency Powers Act to manage imports in a time of national emergency sent the market teetering on the edge, Reuters reported.
Investors are also eyeing Friday's non-farm payrolls report, the report said.
US markets will be closed on Thursday in observance of a national holiday to mourn former President Jimmy Carter.
In domestic news, Retail turnover in Australia rose 0.8% month on month in November 2024 following a 0.5% increase in October, data from the Australian Bureau of Statistics showed.
in a separate filing, the statistics bureau said that Australia's seasonally adjusted balance on goods grew AU$1.41 billion to AU$7.08 billion between October and November 2024.
Meanwhile, Australia's national median advertised weekly rent rose 1.6% to a new high of AU$620 in the December 2024 quarter, realestate.com.au reported.
In company news, Rio Tinto's planned acquisition of Arcadium Lithium cleared another hurdle upon receiving a clearance from the Committee on Foreign Investment in the United States.
Star Entertainment Group's available cash as of Dec. 31, 2024, was AU$79 million, a reduction of AU$70 million from September's balance of AU$149 million. Shares of the company fell 33% at market close and earlier tumbled to an all-time low.
Lastly, Telstra Group is set to launch a satellite-to-mobile messaging service in Australia in partnership with Starlink, multiple media outlets reported.
Risk Warnings and Disclaimers
You understand and acknowledge that there is a high degree of risk involved in trading. Following any strategies or investment methods may lead to potential losses. The content on the site is provided by our contributors and analysts for information purposes only. You are solely responsible for determining whether any trading assets, securities, strategy, or any other product is suitable for investing based on your own investment objectives and financial situation.
Add to Favorites
Share
Asx-Listed Shares Of Arcadium Lithium Hit 1-Year High On Foreign Investment Clearance
You understand and acknowledge that there is a high degree of risk involved in trading. Following any strategies or investment methods may lead to potential losses. The content on the site is provided by our contributors and analysts for information purposes only. You are solely responsible for determining whether any trading assets, securities, strategy, or any other product is suitable for investing based on your own investment objectives and financial situation.
Add to Favorites
Share
ASX Preview: Australian Shares Set to Open Lower in Wake of Subdued Wall Street Session
Australian shares are likely to open lower Thursday following a subdued session on Wall Street overnight.
Investors will keep an eye on retail sales for November 2024 scheduled for release at 11:30 am Sydney time. The consensus estimate is for a monthly increase of 1%, according to Trading Economics, versus October's 0.6% growth.
The international trade in goods data for November will be released at the same time.
Overnight, the Nasdaq Composite and the S&P 500 barely made a dent, while the Dow Jones Industrial Average eked out a 0.3% increase.
In corporate news, Fortescue signed a memorandum of understanding with China Baowu Steel Group's subsidiary to push for the decarbonization of the steel industry via a green iron metal project, the company said Wednesday on its LinkedIn account.
Rio Tinto's planned acquisition of Arcadium Lithium cleared another hurdle with the receipt of the Committee on Foreign Investment in the United States' clearance, according to a Wednesday statement from Arcadium Lithium.
Australia's benchmark index rose 0.8%, or 64 points, Wednesday to close at 8,349.10.
Risk Warnings and Disclaimers
You understand and acknowledge that there is a high degree of risk involved in trading. Following any strategies or investment methods may lead to potential losses. The content on the site is provided by our contributors and analysts for information purposes only. You are solely responsible for determining whether any trading assets, securities, strategy, or any other product is suitable for investing based on your own investment objectives and financial situation.
Add to Favorites
Share
Rio Tinto's Proposed Acquisition of Arcadium Lithium Obtains US Clearance
Rio Tinto's planned acquisition of Arcadium Lithium cleared another hurdle with the receipt of the Committee on Foreign Investment in the United States' clearance, according to a Wednesday statement from Arcadium Lithium.
The proposed deal has so far either received or waived merger control clearance in Australia, Canada, China, Japan, South Korea, the UK, and the US. It has also met the UK's investment screening approval.
The transaction remains subject to investment screening approvals in Australia, Canada, and Italy, as well as other customary closing conditions, per the statement.
The deal is expected to be completed before mid-2025.
Risk Warnings and Disclaimers
You understand and acknowledge that there is a high degree of risk involved in trading. Following any strategies or investment methods may lead to potential losses. The content on the site is provided by our contributors and analysts for information purposes only. You are solely responsible for determining whether any trading assets, securities, strategy, or any other product is suitable for investing based on your own investment objectives and financial situation.
Add to Favorites
Share
AMD, J&J lead market cap stock movers on Wednesday
Wednesday's trading session has showcased a variety of fluctuations among stocks, particularly within the mega-cap and large-cap sectors. Investors have been reactive to news and market shifts, resulting in notable intra-day stock movements. Mega-cap stocks such as Adv Micro Device (NASDAQ:AMD) and Johnson & Johnson (NYSE:JNJ) have experienced declines, while in the large-cap category, Ebay Inc (NASDAQ:EBAY) has seen a surge. Here's an overview of some of the key stock movers across different market capitalization categories today.
Mega-Cap Movers (Market Cap $200B+)
Johnson & Johnson (JNJ); J&J gains FDA Fast Track for Alzheimer's treatments: -3.01%
Exxon Mobil (NYSE:XOM): -2.48%
Adv Micro Device (AMD): -4.49%
Large-Cap Stock Movers (Market Cap $10B-$200B)
dMY Technology Group III (IONQ): -39.6%
Mobileye Global (NASDAQ:MBLY): -14.88%
Edison Intl (NYSE:EIX): -13.31%
Ebay Inc (EBAY): +9.3%
Moderna (NASDAQ:MRNA): -8.48%
Reinvent Technology Partners Y (AUR): -7.76%
Roku (NASDAQ:ROKU): +6.5%
ON Semiconductor (NASDAQ:ON): -7.11%
Xpeng Inc (NYSE:XPEV): -5.44%
FBTC NYSE (FBTC): -2.29%
Mid-Cap Stock Movers (Market Cap $2B-$10B)
Rigetti Computing Inc (NASDAQ:RGTI): -44.33%
Quantum (NASDAQ:QMCO) Computing OTC (QUBT); Quantum Computing, Inc. Announces Private Placement of Common Stock for Proceeds of $100 Million: -41.03%
DPCM Capital (QBTS): -34.14%
CF Acquisition Corp VI (RUMBW): -21.05%
SoundHound AI (NASDAQ:SOUN): -16.5%
Catalyst Pharmaceuticals (NASDAQ:CPRX); Catalyst Pharmaceuticals Announces Settlement of FIRDAPSE® (amifampridine) Patent Litigation with Teva Pharmaceuticals: +13.19%
Rumble (RUM): -13.16%
AltC Acquisition (OKLO): -12.1%
Nuscale Power (SMR): -12.37%
Plug Power (NASDAQ:PLUG): -11.06%
Small-Cap Stock Movers (Market Cap $300M-$2B)
Sana Biotechnology (SANA); Sana reports success in diabetes cell therapy without immunosuppression: +201.82%
Vir Biotechnology Inc (NASDAQ:VIR); Vir Biotechnology Announces Encouraging Safety and Efficacy Data in Ongoing Dose Escalation Trials for Dual Masked T-Cell Engagers VIR-5818 in Solid Tumors and VIR-5500 in mCRPC: +64.05%
Avita Medical Ltd (NASDAQ:RCEL); AVITA Medical (TASE:PMCN) Updates Expected Fourth Quarter and Full Year 2024 Revenue, Provides 2025 Financial Guidance: -36.98%
AngioDynamics (NASDAQ:ANGO); AngioDynamics Reports Fiscal Year 2025 Second Quarter Financial Results: +29.68%
Atomera Inc (ATOM): -27.16%
Centricus Acquisition (ARQQ): -25.25%
HighCape Capital Acquisition (QSI); Quantum-Si's New Preprint Showcases Protein Barcoding as a Powerful Tool for Transforming Proteomics: -23.34%
CMI Acquisition LLC (SKYT): -20.45%
MSTU (MSTU): -5.35%
Armada Acquisition I (RZLV): -20.03%
For real-time, market-moving news, join Investing Pro.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.
Risk Warnings and Disclaimers
You understand and acknowledge that there is a high degree of risk involved in trading. Following any strategies or investment methods may lead to potential losses. The content on the site is provided by our contributors and analysts for information purposes only. You are solely responsible for determining whether any trading assets, securities, strategy, or any other product is suitable for investing based on your own investment objectives and financial situation.
Add to Favorites
Share
Arcadium Lithium stock jumps on CFIUS clearance for Rio Tinto deal
Investing.com -- Shares of Arcadium Lithium plc (NYSE: ALTM, ASX: LTM) surged 8% following the announcement that the Committee on Foreign Investment in the United States (CFIUS) has completed its review of the company's proposed acquisition by mining giant Rio Tinto (NYSE:RIO) and found no unresolved national security issues.
The clearance marks a significant step forward for the deal, which was initially announced on October 9, 2024. With the CFIUS hurdle now cleared, Arcadium Lithium has also received merger control clearance in several other key jurisdictions, including Australia, Canada, China, Japan, South Korea, the United Kingdom (TADAWUL:4280), and under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 in the United States. The United Kingdom has also granted investment screening approval.
Despite this progress, the acquisition is still awaiting investment screening approvals in Australia, Canada, and Italy, in addition to other customary closing conditions. Arcadium Lithium remains optimistic, expecting the transaction to finalize before mid-2025.
The company's stock movement reflects investor confidence in the acquisition's progress and the positive implications it holds for Arcadium Lithium's future operations and growth. The clearance from CFIUS is a crucial step in international deals involving U.S. business interests, as it ensures that the transaction poses no threat to national security, which can be a significant concern in the mining and production of critical materials like lithium.
Investors are closely monitoring the remaining regulatory approvals, keenly aware that the successful acquisition by Rio Tinto could enhance Arcadium Lithium's position in the global lithium market, a sector that is becoming increasingly important due to the rising demand for electric vehicles and renewable energy storage solutions.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.
Risk Warnings and Disclaimers
You understand and acknowledge that there is a high degree of risk involved in trading. Following any strategies or investment methods may lead to potential losses. The content on the site is provided by our contributors and analysts for information purposes only. You are solely responsible for determining whether any trading assets, securities, strategy, or any other product is suitable for investing based on your own investment objectives and financial situation.
US
VN
TW
