Macmahon Reveals $39.6 Million Exposure to Calidus Resources Collapse
Mining contractor Macmahon reveals $39.6 million exposure to Calidus Resources collapse, remains hopeful of recovering dues. Calidus under receivership of Kordamentha amid $60 million creditor dispute. Macmahon’s strategic approach to managing impact highlights complexities in mining industry.
Australia’s Sharemarket Anticipates Rebound Amidst US Monetary Policy Speculation
Australia’s sharemarket is poised for a potential rebound as ASX futures indicate a 0.3% increase on Monday. Traders await Jerome Powell’s remarks on US monetary policy, with expectations of a more hawkish stance. Strong local inflation figures have shifted interest rate forecasts, leading to speculation of further rate hikes. Powell is expected to address prolonged inflationary pressures and may signal a shift from easing measures. Market analysts predict modest rate cuts in September, highlighting the importance of Powell’s upcoming press conference for global financial markets.
Australian Stock Market Reaches Record High: Top ASX Shares to Consider for February 2024
The Australian stock market is experiencing significant growth, with the S&P/ASX 200 Index reaching a record high at the end of January 2024. With the possibility of interest rate cuts on the horizon, now may be an opportune time for…