Consumer confidence increased over the weekend amid talk of a cut to interest rates while inflation expectations fell, an ANZ Banking Group analyst says.
Oil prices rose more than one per cent overnight, supported by Middle East tensions and OPEC-led supply cuts as well as continued crude disruptions from Russia after a contamination problem discovered last month.
Gold hit a more than one-week peak overnight as trade tensions between the United States and China lifted appetite for assets seen as a haven from risk, while weak US economic data boosted hopes for a rate cut from the Federal Reserve.
The Environmental Protection Authority will commence formal consultation next month on its greenhouse gas guidelines, refuting media reports it has already decided to revive the guidelines that caused industry outrage earlier this year.
The Australian share market has closed flat, with gains for tech stocks and the major mining companies slightly outweighed by a decline in telecom and consumer staples shares.
The publisher of The West Australian has increased its dominance of WA’s media sector by purchasing News Corp’s 50.1 per cent stake in Community Newspaper Group.
Andrew and Nicola Forrest’s Minderoo Foundation has pledged up to $2 million to The Nature Conservancy to undertake a series of activities to improve the Swan-Canning Estuary’s health, including the restoration of lost shellfish reefs.
Scott Morrison says he has high expectations for his new ministry, with Western Australians Christian Porter, Linda Reynolds and Ken Wyatt among those to be promoted.
Oil prices climbed more than one per cent on Friday ahead of long US and UK holiday weekends but posted the biggest weekly drop of the year, pressured by rising inventories and worries about the global economy.
Gold steadied on Friday after rising more than one per cent in the previous session en route to a weekly gain, propped up by a weaker US dollar and expectations for a US interest rate cut, offsetting pressure from a rebound in equities.
Rehabilitation of mine sites in Western Australia may be improved after Perth researchers identified several species of native plants well suited to tolerating conditions at the old sites.
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Mincor Resources has raised $18 million in a share placement and is seeking to secure an additional $5 million via a share purchase plan to facilitate the restart of its Kambalda nickel operations.
Millennium Minerals will take on more debt after revising production guidance at its Nullagine gold project to include increased costs and lower output.
Middle Island Resources says a defeating condition of a takeover offer made for fellow Western Australian gold junior Alto Metals has been triggered, after alleging shortfall shares were issued contrary to the terms of a prospectus.
