Governor of the Reserve Bank of Australia, Michele Bullock, has stated that they are still in the process of analysing the recent CPI (Consumer Price Index) figures. She has not made a definitive statement about whether these figures would lead to a significant alteration in the bank's outlook on inflation and the possibility of raising interest rates. Bullock emphasised that they need more time to assess whether the data is substantial enough to influence their policy decisions.
At noon, the S&P/ASX 200 is 0.59 per cent lower at 6,814.10.
The SPI futures are pointing to a fall of 27 points.Best and worst performers
The best-performing sector is Energy, up 0.51 per cent. The worst-performing sector is Information Technology, down 2.88 per cent.
The best-performing large cap is Meridian Energy (ASX:MEZ)
, trading 2.73 per cent higher at $4.52. It is followed by shares in Mercury NZ (ASX:MCY)
and Santos (ASX:STO)
The worst-performing large cap is Aristocrat Leisure (ASX:ALL)
, trading 3.39 per cent lower at $39.00. It is followed by shares in REA Group (ASX:REA)
and Allkem (ASX:AKE)
South Korea stocks led declines among Asia-Pacific markets on Thursday, as investors parsed data that showed the economy grew at a slightly higher-than-expected pace in the third quarter.
Gross domestic product grew 0.6% in the July-September quarter from the prior quarter, according to data released by the Bank of Korea. The South Korean central bank will hold its next policy meeting in late November.
South Korea’s Kospi index opened 1.51% lower, while the tech-heavy Kosdaq index shed 2.3%. Japan’s Nikkei 225 opened 1.30% lower.
Futures for Hong Kong’s Hang Seng index stood at 17,158, pointing to a slight higher open compared to the HSI’s close of 17,085.33.Company news
Future Metals (ASX:FME, AIM:FME) is pleased to announce it has an updated independent JORC Code Mineral Resource Estimate for its 100% owned Panton Project. The results confirm as the highest grade in Australia and one of the highest grade undeveloped PGM projects globally. Shares are flat at 3.1 cents.
WA1 Resources (ASX:WA1)
announced further exploration results from the 100% owned West Arunta Project in Western Australia. In response, WA1’s Managing Director, Paul Savich, commented: “This latest round of assay results, which includes a number of our highest-grade niobium intercepts to date, further expands the mineralised footprint.” Shares are trading 12.68 per cent higher at $6.31.
announced its decision to re-commence exploration at its Junction Dam Uranium Project to substantially grow the Company’s uranium resource. Marmota Chairman, Dr Colin Rose, said, “The Junction Dam Uranium Resource is one of the most exciting uranium deposits in South Australia. The future for Marmota looks very promising with both Aurora Tank gold and Junction Dam uranium showing the potential to be outstanding deposits.” Shares are trading 12.5 per cent higher at 3.6 cents.
Azure Minerals Limited (ASX:AZS)
announced that it has entered into a binding Transaction Implementation Deed with SQM Australia, under which it is proposed that SQM will acquire 100% of the shares in Azure by way of a scheme of arrangement for a cash amount of $3.52 per Azure Share. Commenting on the Transaction, Azure’s Managing Director, Tony Rovira, said, “The Transaction presents a great outcome for other stakeholders in Andover, who will benefit from the project being developed by an experienced, well-capitalised and highly regarded company in SQM.” Shares are trading 43.5 per cent higher at $3.50.Commodities and the dollar
Gold is trading at US$1994.10 an ounce.
Iron ore is 1.2 per cent higher at US$120.00 a tonne.
Iron ore futures are pointing to a 0.1 per cent fall.
One Australian dollar is buying 63.08 US cents.