Polymetals Resources (ASX: POL) is an Australian mining company operating at its 100% owned Endeavor Silver Zinc Mine, located in the Cobar Super Basin, NSW, Australia. The company has the potential to be a +20-year producer in one of Australia’s most prolific polymetallic mining districts
The ASX rose on Thursday, tracking Wall Street gains after the US Federal Reserve signalled rate cuts remain on the table. The S&P/ASX 200 climbed 0.6% to 8591.7 by 2:18pm AEST, with retail, property, banks and miners driving the rebound.
The ASX fell on Wednesday, with the S&P/ASX 200 Index down 27.1 points, or 0.3%, to 8563.6 by 2pm AEST. The market was rattled by escalating trade tensions after former US President Donald Trump pledged a 50% tariff on copper imports, sending copper futures as low as $US9553.50 a tonne before recovering slightly.
The Reserve Bank of Australia surprised markets by holding the cash rate steady at 3.8 per cent, defying expectations of a third rate cut this year. The Australian dollar spiked to US65.45¢ from US65.10¢ on the news, while three-year bond yields rose from 3.34 per cent to 3.38 per cent. Economists and traders had largely priced in a 25 basis point cut to 3.6 per cent. Governor Michele Bullock is expected to provide further commentary at a 3.30pm press conference.
Australian shares slipped on Monday, weighed by declines in energy and materials, as investors monitored President Trump’s proposed tariffs set to take effect August 1. The S&P/ASX 200 fell 10.3 points, or 0.1%, to 8592.7 by 2pm AEST, with six of 11 sectors in positive territory.
Australian shares edged slightly higher on Friday, with the S&P/ASX 200 Index up 3.3 points to 8599.1 as of 2pm AEST—poised to surpass its record close of 8597.7 set on Wednesday. Gains in tech and retail helped offset declines in major miners and Commonwealth Bank.
The ASX retreated on Thursday, with the S&P/ASX 200 falling 20.7 points or 0.2% to 8577 by 2pm AEST. The decline followed a record close on Wednesday, as profit-taking in the big four banks, led by a 1.6% fall in Commonwealth Bank, weighed on the index. National Australia Bank slipped 1.2%, and Westpac lost 0.5%.
The S&P/ASX 200 Index climbed 0.6% to 8588.8 on Wednesday afternoon, buoyed by weak domestic retail sales data that bolstered expectations of a July rate cut from the RBA. Nine of 11 sectors advanced, led by miners and real estate.
The ASX rose modestly on Tuesday, buoyed by strength in tech, retail, and real estate sectors amid optimism over US trade negotiations. The S&P/ASX 200 gained 14.1 points, or 0.2%, to 8556.4 by midday, with eight of 11 sectors trading higher.
While the headlines often focus on tech giants or banks at record highs, Australia’s engineering services companies have been quietly delivering impressive results in the background.
The Australian sharemarket rose on Monday, with the S&P/ASX 200 up 60.7 points, or 0.7%, to 8574.9 by 2:10pm AEST. The rally followed gains on Wall Street, where the S&P 500 closed at a record high amid optimism around US trade talks.
