Woodside Energy has sold a 15.1% stake in its Scarborough LNG project to JERA for $2.1 billion. This transaction comes as the ASX 200 is experiencing a rally, driven by positive market sentiment and the influence of AI technology. In other news, NAB predicts an inflation rebound, Afterpay-owner Block and Aussie Broadband report strong profits, Arcadium reduces lithium output, Yarra Capital warns of potential iron ore price collapse, Perseus Mining expresses interest in purchasing Newmont's gold mine, Commonwealth Bank expects house price growth, and an Optus outage costs parent company Singtel $61 million.
Woodside Energy has made a significant sale, divesting a 15.1% stake in its Scarborough LNG project to JERA for $2.1 billion. This move is part of Woodside's strategy to optimize its portfolio and focus on its core assets. The sale is expected to provide Woodside with additional capital to invest in growth opportunities and strengthen its balance sheet. The transaction reflects Woodside's commitment to delivering value to its shareholders and maintaining a disciplined approach to capital allocation [901bd61f].
Meanwhile, the ASX 200 is experiencing a rally, with the market set to rise. This positive market sentiment is driven by several factors, including the US Federal Reserve's decision to keep interest rates on hold, which has raised expectations of rate cuts in 2024. Additionally, the influence of AI technology, sparked by Nvidia, has contributed to the rally. The ASX 200's rise is indicative of the overall positive sentiment in the market [901bd61f].
In other news, NAB predicts an inflation rebound. After a period of low inflation, NAB expects inflation to pick up in the coming months. This prediction is based on several factors, including rising energy prices, supply chain disruptions, and increased consumer spending. NAB's forecast suggests that inflation will reach the upper end of the Reserve Bank of Australia's target range, which could have implications for monetary policy [901bd61f].
Afterpay-owner Block and Aussie Broadband have reported strong profits. Both companies have experienced significant growth in recent years, driven by increased demand for their services. Block's strong performance is attributed to the success of Afterpay, which has seen a surge in popularity among consumers. Aussie Broadband's profits are a result of its expansion into new markets and the increasing demand for high-speed internet services [901bd61f].
Arcadium, a lithium producer, has reduced its output at its Australian mine. This decision is in response to the current oversupply of lithium in the market. Arcadium's move is aimed at balancing supply and demand and maintaining stable prices. The reduction in output is expected to have a positive impact on the lithium market [901bd61f].
Yarra Capital has warned of a potential collapse in iron ore prices. The investment firm believes that the current high prices of iron ore are unsustainable and could experience a significant decline in the future. Yarra Capital's warning is based on factors such as slowing demand from China and increasing supply from other iron ore producers. If iron ore prices were to collapse, it could have a significant impact on the mining industry and the Australian economy [901bd61f].
Perseus Mining has expressed interest in purchasing Newmont's gold mine in Ghana. The Australian mining company sees the potential acquisition as an opportunity to expand its operations and increase its gold production. The deal would allow Perseus Mining to leverage its expertise in gold mining and capitalize on the strong demand for gold in the global market [901bd61f].
Commonwealth Bank expects house price growth in February. The bank's forecast suggests that house prices will continue to rise, driven by factors such as low interest rates, strong demand, and limited housing supply. The expected growth in house prices could have implications for the housing market and the broader economy [901bd61f].
An Optus outage has cost parent company Singtel $61 million. The outage, which affected Optus' mobile and internet services, resulted in a loss of revenue for Singtel. The company is working to restore services and minimize the impact on its customers. The outage highlights the importance of reliable and resilient telecommunications infrastructure [901bd61f].
