The Australian sharemarket experienced a significant jump, climbing 1.6 per cent amid speculation that Donald Trump is considering withdrawing from conflict with Iran. The surge was primarily driven by strong performances in the mining and technology sectors. Treasurer Jim Chalmers also announced business tax relief measures, providing further impetus to market optimism.
In other corporate news, Star Entertainment Group is reportedly selling its stake in the Queen’s Wharf development. Additionally, SGH has appointed Bansal to its board. Goldman Sachs has lifted its aluminium forecasts, and oil prices have dipped below $US104 a barrel. Anthropic, a $US380 billion AI giant, has signed a memorandum of understanding with the Albanese government regarding data centre plans. Anthropic focuses on AI safety and research, aiming to build reliable and beneficial AI systems.
Meanwhile, a consortium including private hospitals backed by Healthscope’s landlords has launched a fresh bid for the company, potentially leading to a break-up of the country’s second-largest private hospital group. Treasurer Chalmers has urged states to resolve disagreements over the distribution of GST revenue windfall to households, particularly regarding fuel tax relief.
Adding to the day’s developments, Joe Aston criticised Barrenjoey’s financial transparency. Amidst international concerns, King Charles will proceed with a state visit from Donald Trump, despite the ongoing war. Warren Buffett hinted at a potential end to donations to the Gates Foundation, and a North Korea-linked hack targeted software used by online services.
