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capricorn metals shares rise after goldman sachs upgrade to buy
Capricorn Metals shares surged 3.6% to $8.34 after Goldman Sachs upgraded its rating to 'buy', making it the top performer on the ASX 200. The stock has gained over 50% in the past year, while Goldman Sachs also maintains 'buy' ratings for Gold Road Resources and Bellevue Gold.
Australia 200 rebounds as rate cut expectations boost supermarket and real estate stocks
The Australia 200 index rose 38 points (0.48%) to 7957, poised for its best close in nearly two weeks, buoyed by supermarket stocks following ACCC findings. The real estate sector also gained amid expectations of an RBA rate cut in May, while the financial sector showed signs of recovery. Gold prices retreated from record highs, and Paladin's uranium operations were suspended due to heavy rainfall.
Australia 200 edges higher amid geopolitical tensions and positive jobs outlook
The Australia 200 index is trading slightly higher at 7860, recovering from an intraday high of 7922 amid rising geopolitical tensions following Israel's airstrikes on Gaza. The upcoming jobs report is expected to show stable employment, likely keeping interest rates on hold. In the energy sector, Beach Energy and AGL Energy saw gains, while gold prices hit a record high, benefiting companies like Regis Resources. The banking sector experienced mixed results, and the materials sector remained steady despite fluctuations in coal and iron ore stocks.
northern star acquisition transforms gold sector landscape and investment strategies
Northern Star Resources has strategically acquired De Grey's flagship gold project in Western Australia's Pilbara region, enhancing its position in the gold sector with 11.2 million ounces in mineral resources and a forecasted annual production of 530,000 ounces for the first decade. Market reactions saw De Grey's shares rise by 30%, while Northern Star's dipped by 5.77%, reflecting the cyclical nature of commodities. With expectations for higher gold prices in 2025, investors should monitor economic conditions and interest rate trends for potential opportunities in gold stocks.
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