It’s no surprise that the US and China dominate the global economic landscape at the moment.
But, have you wondered what the hierarchy looks like thereafter?
Well…look no further than the image below.
Some predictions may surprise you!
Across Markets…
Another rate pause from the Reserve Bank of Australia did little to spur what proved to be a lacklustre session for the sharemarket, despite some wild swings from miners.
The S&P/ASX 200 ended the session flat, just 4.5 points lower to 7.314.3, ahead of official GDP figures tomorrow. The All Ords fared worse closing 0.1 per cent lower.
Utilities stocks were among the worst performing across benchmark’s mixed session, with sector heavyweight Origin Energy, which was trading ex-dividend as of Tuesday falling 2.9 per cent to $8.38.
Origin Energy has entered talks with the NSW government to extend the life of Eraring Power Station on the state’s Central Coast. The site is Australia’s largest coal-fired power station and is planned to close in 2025.
Link Administration, Northern Star Resources, Pilbara Minerals and Viva Energy Group also sank as they entered ex-dividend trading, weighing the benchmark down further.
Among small caps, Torque Metals was the standout performer, up more than 170 per cent after the WA exploration company expanded its Paris Gold Camp, touting lithium and gold exposures in the new tenements.
Tietto Minerals plunged 20.4 per cent. The gold miner cut its second 2023 gold production guidance from its newly opened Abujar gold mine in Côte d’Ivoire. The gold producer cited recent drilling results, a lack of stockpiles and an updated reserve model as reasons for the downgrade.
Shares in Chalice Mining fell another 13.4 per cent after being downgraded to “underperform” by analysts at Jefferies. Shares now fallen 40 per cent since the WA mineral developer released the results of a long-awaited scoping study into its Gonneville project.
Despite gaining early in the session, Qantas shares closed 0.2 per cent lower after outgoing CEO Alan Joyce brought forward his retirement by two months. He will step down as of Wednesday as Vanessa Hudson steps into the group CEO and managing director roles.