Shares have surged by more than 2.0 per cent in early ASX trade, taking the lead from overnight gains on Wall Street due to rising hopes of a coronavirus vaccine.
Oil prices overnight jumped to their highest values in over two months on positive early results on a potential coronavirus vaccine, optimism about a resumption in economic activity and signs producers were following through on planned output reductions.
The Australian share market has gained more than one per cent for the second straight day, with miners shining after iron ore and gold prices both jumped.
Western Australia has officially moved into the second phase of lifting some of its coronavirus restrictions, while recording no new infections and two recoveries overnight.
A $112 million hybrid microgrid to power Gold Fields’ Agnew gold mine has been completed, with 22 megawatts of renewable capacity, a battery, and gas/diesel backup plant in what the company claims is the largest such grid in Australia.
BGC Australia has taken its second major step to consolidate its residential businesses, announcing the merger of the BGC Housing Group and Ventura Home Group.
Copper explorer Hot Chili is targeting its first resource estimate for two projects in South America after announcing an oversubscribed $5 million placement and $3.9 million rights issue, with majority of the funds going towards a drilling restart at the Cortadera project in Chile.
The federal government has granted Perth company Agrimin major status for its Mackay potash project in Western Australia for an initial three-year period.
WA’s university sector is concerned with the lack of federal support for international students, warning that choices made now could cause years of damage to the country’s economy and reputation.
The Lateral INCITE Awards has shortlisted 26 entrants for this year’s program, with Leederville-based startup InteliCare and IT consultancy firm Modis Australia among those advancing to the second round of judging.
Emirates Group is planning to cut about 30,000 jobs to reduce costs amid the coronavirus outbreak, which will bring down its number of employees by about 30 per cent from more than 105,000 at the end of March, Bloomberg News reports.
Four private equity firms are the leading candidates to buy Virgin Australia, the biggest regional casualty of the coronavirus crisis in the global aviation industry.
US crude prices have reached their highest price since March, on strengthening fuel demand as countries around the world eased travel restrictions they had imposed to curb the spread of the coronavirus.
Gold prices have jumped to levels last seen in 2012, as renewed US-China trade tensions added to concerns about a deep economic slump due to the coronavirus pandemic.
The state government has said it will allow public and private hospitals to increase elective surgeries to 50 per cent of normal activity as of Monday, following new guidelines set today by the national cabinet.
Virgin Australia is expected to receive as many as eight non-binding indicative offers from potential buyers, which will be whittled down over the next few days to a shortlist of around three, its administrators said.
Premier Mark McGowan has announced details on the COVID Safety Plan businesses need to complete before reopening next week. The federal government has announced a $48.1 million mental health support package.
Trevor Badger has been voted off the CBH Group board by the slimmest of margins at a special general meeting today, with the vote exposing a divide between members and the farm co-operative's board.
Architects are hoping the government will consider a series of targeted initiatives to stimulate the economy as attention shifts to COVID-19 recovery plans.
