Nine Entertainment is the top gainer among Australian shares.
Australian shares rose Friday on the back of gains in energy and mining stocks, as well as strong commodity prices. Nine Entertainment was the biggest gainer, after Domain Holdings Australia, which owns 60%, received a purchase offer. As of 0026 GMT, the S&P/ASX 200 was up by 0.1% to 8,333.1. The benchmark index has lost 2.6% in the first week. Iron ore prices rose overnight, causing miners to gain as much as 1.5 percent. BHP Group and Rio Tinto gained between 0.2% and 1,6% on Friday. The strong oil price has led to a 1.5% increase in energy stocks. Woodside Energy and Santos both saw their shares rise by 0.6% and 1,1%, respectively.
Australia's Santos posts 16% drop in annual profit on lower prices, slashes dividend
Santos, an Australian oil and natural gas company, reported a lower-than expected annual profit and declared a smaller payout on Wednesday. The lower realized prices and decreasing production were to blame. The oil and gas market remained volatile throughout the year. Supply chain disruptions caused by geopolitical concerns and a slowdown in demand from China, the United States' largest trading partner, hurt sales and production. The average realized oil price for the year fell by 3%, to $84.76 a barrel. Prices for LNG also dropped 3%, to $12.31 a million British thermal units.
Sources say that RPT-Australian Woodside is in talks with three partners about Louisiana LNG.
Multiple sources have confirmed that Woodside Energy is in talks with several potential investors to buy stakes in the Louisiana liquefied gas plant. These include Tokyo Gas, Japan’s JERA, and Saudi Aramco-backed MidOcean Energy. This sale of stakes is a test of market expectations for LNG following Donald Trump's return to the U.S. Presidency. Trump said that trade partners should purchase more U.S. Energy and has issued several executive order in his first week in office to boost domestic oil and natural gas production. Louisiana LNG offers global buyers the opportunity to diversify their supplies and possibly ward off U.S.
Sources: Woodside Australia is in talks with three partners about Louisiana LNG.
Multiple sources have confirmed that Woodside Energy is in talks with several potential investors to buy stakes in the Louisiana liquefied gas plant. These include Tokyo Gas, Japan’s JERA, and Saudi Aramco’s MidOcean Energy. This sale of stakes is a test of market expectations for LNG following Donald Trump's return to the U.S. Presidency. Trump said that trade partners should purchase more U.S. Energy and has issued several executive order in his first week in office to boost domestic oil and natural gas production. Louisiana LNG offers global buyers the opportunity to diversify their supplies and possibly fend of U.S.
Origin Energy's profit exceeds expectations on the back of strong LNG earnings
Origin Energy, an Australian power company, beat analysts' expectations on Thursday. This was due to higher LNG sales and gains from LNG trading. These factors offset a sharp drop at the energy markets division. Origin Energy, along with AGL Energy and Energy Australia as one of Australia's "Big Three" retailers of electricity, will spend A$1.5 billion to A$1.7 billion between fiscal 2025 and the majority of that money will go towards building storage batteries. Frank Calabria, Chief Executive Officer of Origin said: "Origin delivered a solid first-half performance...
Australia adopts tax incentives for critical minerals
Australia's Parliament has passed laws to give production tax breaks on critical minerals and renewable hydrogen, in an effort to boost energy transition plans, as the country aims for net zero emissions and reduce its dependence on China by 2050. The centre-left Labor Government said that the law passed on Tuesday will provide tax incentives of up to 10% for the processing and refining cost for 31 essential minerals for the fiscal years ending in June 2028 until 2040. A tax incentive of A$2 (1.26 USD) per kilogram of renewable hydrogen will be provided.
Macquarie, Australia's Macquarie Bank, has'very little exposure' in Trump's war on green energy
Macquarie Group, the top Australian investment bank, downplayed on Tuesday its exposure to U.S. green power sector that has been disrupted by executive orders issued by President Donald Trump. It posted a flat profit for the third quarter. The bank that makes a third its profit in Americas said it has reviewed its U.S. investments and found minimal exposure since Trump signed executive orders banning or freezing government benefits for sustainable energies. Macquarie's CEO Shemara Wikamanayake said on a conference call with analysts that the U.S. had very few investments. She was referring to two of the company's main green energy funds.
Potentia Energy purchases major Australian renewable energy assets
Potentia Energy is a joint venture of Italy's Enel and Japan's INPEX Corp. It announced Thursday that it will buy control stakes in renewable energy projects worth 1 gigawatt in Australia. This investment comes from investors in private equity funds and superannuation funds. Potentia stated that the acquisition included 700 megawatts in wind and solar assets and 430 Megawatts in late-stage projects, consisting of South Australian and Queensland Battery Energy storage system. The company also said that a wind farm in West Australia is included in this portfolio. Potentia is a company that has been operating in Australia for 8 years.
Australian shares are led higher by banks and retailers.
Australian shares followed Wall Street's rise on Thursday. Financial stocks and consumer discretionary companies led the charge, after investor concerns about a global war of trade began to fade. As of 2350 GMT, the S&P/ASX 200 Index rose by 0.9% to 8,490.7. The benchmark closed Wednesday 0.5% higher. Overnight the Dow Jones Industrial Average in the U.S. rose 0.71%. The S&P 500 increased by 0.39%. Nasdaq gained 0.19%. Investors ignored the comments of President Donald Trump, who said that the U.S. wanted to develop the economically-destroyed Gaza Strip.
Blackstone buys $1 billion Virginia power station near data centers
Blackstone's unit dedicated to energy investments has acquired Potomac Energy Center. The asset manager announced the deal on Thursday. It is a sign of the appeal of data centers located near power plants to investors. Blackstone Energy Transition Partners, according to an official statement, has agreed to purchase the 774 megawatt natural gas-fired plant in Loudoun County of northern Virginia. Blackstone paid around $1 billion, according to sources who are familiar with the situation. Ares Management, a fellow investment firm, has owned the facility since 2021. Potomac Energy Center, located in northern Virginia, outside Washington D.C.
Fortescue Energy CEO: Green hydrogen costs are key to reducing demand
Fortescue Energy CEO Mark Hutchinson said in Davos that buyers will not pay "green premiums" if the price is competitive. By splitting water into oxygen and hydrogen, using renewable electricity, green hydrogen can be created. The hydrogen can be used to generate electricity or as an ingredient in agricultural fertilisers. Hutchinson, speaking at the Global Markets Forum, said that electrolyzers which split hydrogen were expensive and that government subsidies intended to lower these costs have not been forthcoming as expected. The CEO of the World Economic Forum said that the green hydrogen and ammonia sector is not what they expected.
Blackstone buys $1 billion Virginia power station near data centers
Blackstone's unit dedicated to energy investments has acquired Potomac Energy Center. The asset manager announced the deal on Thursday. This is a sign of the appeal of data centers located near power plants to investors. Blackstone Energy Transition Partners, according to an official statement, has agreed to purchase the 774 megawatt natural gas-fired plant in Loudoun County of northern Virginia. Blackstone paid around $1 billion, according to sources who are familiar with the situation. Ares Management, a fellow investment firm, has owned the facility since 2021.
Australian Government pledges $1.24 Billion in Green Aluminium Push
Australia's Labor Government pledged A$2 Billion ($1.24 Billion) in production credits on Monday to support the four Australian aluminium smelters to switch to renewable energy before 2036. Aluminum is one of non-ferrous metals that is the most polluting to produce, since its production is mainly powered by coal. The term "green aluminium" is used to describe metals produced by solar, wind and hydropower. Rio Tinto and Alcoa are the two companies that run four of the country's aluminium smelters. In his latest campaign pitch…
Rio Tinto shares fall on merger failure reports; banks weigh down on Australia's shares
The Australian share market fell Friday due to the fall in banking stocks, and Rio Tinto's decline on news of failed merger talks with Glencore. The S&P/ASX 200 ended the week 0.2% lower, at 8,310.4. The benchmark closed the week with a 0.2% gain. After reports that failed merger talks had taken place between the No. The world's No. 2 miner, Glencore, is one of the largest miners in coal and base metals. The financial sector led the declines in Friday's market, with a 1% drop to record their worst week since four. The "big four" banks dropped between 1.2% and 1.8%.
Australian shares flat: Rio Tinto drags down miners after merger talks
Australian shares were flat on Friday. Gains in healthcare companies were offset by losses among miners. Rio Tinto fell on speculation about early merger talks with London listed smaller rival Glencore. S&P/ASX 200 index fell marginally 0.1% at 8,322.2 points as of 2322 GMT. The benchmark index is on course to record its second consecutive weekly increase. Rio Tinto shares dropped 1.21% after reports of short, unsuccessful merger discussions with Glencore in late 2017. This was despite speculations by Bloomberg News that early-stage talks were ongoing. Local employment also surprised the markets in December, as it exceeded expectations.
Australia's Competition Regulator flags gas import requirements for the East Coast
The Australian Competition Regulator said that the east coast of Australia is likely to experience a gas shortage by 2027, which could lead to imports. It cited its gas inquiry report. The Australian Competition & Consumer Commission stated that the report found the development of new production and supporting infrastructure for gas has not kept up with the increasing demand. It is anticipated that the east coast gas market will have surpluses in 2025 and 26 but may face shortages afterward due to structural declines and uncertainty regarding future investments.
Australia's 4-day rally is a resounding success as local inflation data are on the table
Australian shares ended a four-day streak of gains to open slightly lower on Wednesday. Losses in domestic banks slowed the gains in mining stocks. Investors awaited data on November inflation due later that day. By 2332 GMT, the S&P/ASX 200 Index was down 0.2% to 8,268,2 points. The benchmark index ended Tuesday 0.3% higher. According to a survey of economists, Australian markets expect a rise of 2.2% for the consumer price index for November. This is compared to the 2.1% increase in October. This will influence the outlook of interest rates by the central bank.
Australia shares are up; banks offset mining and energy stock losses
Investors took their cues from Wall Street's performance and boosted Australian shares for the fourth consecutive day. Gains in banks offset losses in energy and mining stocks. By 2338 GMT, the S&P/ASX 200 Index had risen 0.4% to 8,289.1 point. The benchmark closed Monday 0.1% higher. S&P 500, Nasdaq Composite and Dow Jones rose on Monday due to a rally of semiconductor stocks. A report also suggested that the Trump administration would be less aggressive in its tariff policy. Locally, traders will also be watching for the Consumer Price Index (CPI) November data that is due on Wednesday.
Wall Street Journal, Dec 19,
These are the most popular stories from the Wall Street Journal. These stories have not been verified and we cannot vouch their accuracy. Woodside and Chevron announced they would streamline their oil and gas operations throughout Western Australia by announcing a stake exchange deal. This move will result in the Australian energy company exiting the $34 Billion Wheatstone LNG Project. The U.S. Department of Justice has filed a lawsuit against the pharmacy chain CVS for filling illegal prescriptions of opioids and billing federal insurance programs. This is contributing to an epidemic of opioid overdose and addiction across the country.
BHP and Rio Tinto will build a low-carbon iron plant in Western Australia
BHP Australia and Rio Tinto Australia will develop together a pilot plant for producing low-carbon iron using Pilbara ore as part of their efforts to accelerate decarbonisation within the steel industry. The companies announced this in a statement released on Tuesday. The facility will produce molten steel using direct reduced iron technology (DRI), and renewable energy in an electric melting furnace (ESF). It could have a production of up to 40,000 tons per year. BlueScope Steel will develop the facility in Western Australia's Kwinana Industrial Hub.
