Gold has jumped more than 1.5 per cent to its highest level in seven years as investors rushed to the metal's safety due to concerns over global economic fallout from the fast-spreading coronavirus.
The ASX has launched a technology index with 46 constituent companies and while several, such as Nearmap and ResApp Health, have a WA connection, none are based in Perth.
The Australian share market has finished lower for the first time since Tuesday, with every sector down except financials after the two days of gains sent it into record territory.
Australian Finance Group has reported a 20 per cent rise in first-half net profit to $17.7 million, sending its shares 10 per cent higher at the market close today.
PODCAST: Mark Beyer and Mark Pownall discuss $A slide, footy club financials, new tech index, iron ore profits, Iluka spinout, mineral sands, property recovery, and our special report on women in business.
Potential partners are lining up to get involved with the Australian Biome Project, as the team behind the $550 million tourism development seeks $6.5 million to conduct a full feasibility study and advance the proposal to its next stage of development.
Yara Pilbara and Engie have received a $1 million boost for a planned renewable hydrogen project from the Australian Renewable Energy Agency, but Western Australia will not be involved in the establishment of a new Australian Hydrogen Centre.
Galaxy Resources has disclosed a $US284 million ($A430 million) loss for the 2019 financial year, driven by lower lithium prices and non-cash write-downs and impairment at its Mt Cattlin mine near Ravensthorpe.
Fashion accessory chain Colette by Colette Hayman will close five of its stores in Western Australia, including both stores in the CBD, after the struggling retailer was placed into voluntary administration earlier this month.
Former Downer executive Mike Sutton has been appointed as MACA chief executive after Chris Tuckwell announced he would be stepping down from the role, following an 11-year stint. MACA has also appointed Chris Sutherland to its board as a non-executive director.
Business Events Perth has announced that ‘evokeAG’, Asia Pacific’s largest agri-tech event, will come to Perth in February next year, the first time the event will be held outside of Victoria.
Oil prices rose on Thursday after the US government reported a much smaller-than-anticipated rise in crude stocks, but gains were capped by worries about the spread of coronavirus outside China.
Gold prices climbed to their highest level in seven years overnight as an uptick in the number of coronavirus cases in South Korea fuelled worries over the wider economic impact of the outbreak.
The West Coast Eagles have reinforced their status as the financial powerhouse of the AFL, increasing revenue to $88.7 million and annual profit to $8 million, according to financial statements lodged with the corporate regulator.
Austal’s Alabama shipyard has propelled the Henderson-headquartered shipbuilder to a record half-year earnings performance and a solid lift in net profit.
Little Green Pharma began trading on the ASX today, with its shares closing 10 cents below the price of its initial public offering, despite signing a five-year supply contract with a UK pharmaceutical company overnight.
Western Australia’s unemployment rate has risen to 5.8 per cent in January, sitting above the national average, despite the state recording 6,700 more people in employment for the month.
Civil and mining contractor NRW Holdings has reported strong profit and revenue gains in its interim results, with the company saying its completed acquisitions and plans for alliance-style contracts would support strong future growth.
Mineral sands company Iluka Resources is planning to demerge its BHP iron ore royalty business into a new ASX-listed entity, while at the same time announcing its 2019 full-year results.
Mining services provider Perenti Global has secured $155.5 million in new and extended contracts for works in Australia and Africa through its surface mining operation.
Super Retail Group's shares have jumped more than 10 per cent despite announcing a 20 per cent drop in first-half profit and admitting its underpayments problem is worse than first thought.
Boral has halved its interim payout on a 40 per cent first-half profit dive, with the troubled building materials firm weighed down by higher costs and weak housing construction activity in Australia and South Korea.
Gold has risen, holding above $US1,600 per ounce, as worries over the new coronavirus and its impact on global growth boosted safe-haven demand, while palladium continued its record run driven by short supplies of the metal.
