Have you been following the H2 space?
Years of hype about green hydrogen could soon pay off for billionaire Andrew Forrest and other proponents of the future industry.
The federal budget tipped a surprise $2 billion into a “hydrogen head start” program to make sure Australia keeps pace with rivals.
It also bodes well for a number of other players in the space and the sector as a whole.
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Across Markets…
Australian shares fell 0.1 per cent, by 3.4 points to 7259.9 at the market close, weighed down by consumer discretionary and staples stocks.
Wesfarmers dropped 1.9 per cent after Hong Kong minnow EC Healthcare topped the company’s offer for chain laser hair removal and botox clinic Silk Laser.
Silk Laser shares jumped 12.3 per cent.
The energy sector was in the green. Paladin Energy was one of the best-performing stocks and its shares rose 5.3 per cent. Woodside Energy added 0.3 per cent.
St Barbara shares dropped 3.3 per cent after its board said it would not engage with Silver Lake on its offer to buy the company’s Leonora assets.
Silver Lake shares added 2.4 per cent.
Qantas was among the worst-performing stocks. The airline’s shares dropped 2.2 per cent despite forecasting $2.5 billion in profit in its quarterly update.
BHP Group shares fell 0.9 per cent.
Britain’s inflation rate is set to fall at the sharpest pace in more than 30 years when April figures are reported on Wednesday, giving households a glimmer of relief from the worst cost-of-living squeeze in generations.
The consumer price index is expected to tumble to 8.2 per cent last month from 10.1 per cent in March, according to a Bloomberg survey of economists. It’s a crucial set of figures that is hotly anticipated by the Bank of England and investors that will put to a test the bets on policymakers lifting interest rates to as high as 5 per cent.