You’re watching Kalkine Media live from Sydney. This is The Buzzing Trends show.â¯Lets get started with today’s important news that could impact markets.
• Iron ore prices have been on a dramatic journey starting the second half of the last year. The prices reached a record high of US$237.57 per tonne on 12 May 2021. This rally could be attributed to a robust demand in Chinese steelmaking industries post China’s Labour Day holiday.
• Global steel output increased by nearly 7.5% during the last 12 months with a substantial 24% surge in the current year.
• G7 nations, the Group of seven top advanced economies, are further closer to an accord on Global Taxation of Multinationals.
• Aristocrat leisure,â¯an Australian based gambling machine manufacturer, having headquarters in Sydney, is up by 1.11% and is trading at AU$ 41.15 on 25 May 2021, AESTâ¯at 12:06 pmâ¯after Citi and Goldman Sachs upgradedâ¯the company.
• The company expects profit to range between AU$ 81 million to AU$ 83 million representing an increase of 25.6% to 31.2%, similarly EBITDA margin will be between 16.5% to 17.5%, up from 15.5%.â¯
• The Plenti Group stated that its loan originations surged 64% on-year to $470 million, while the loan book hit $615 million, up 61% on-year in the financial year 2021.
• Digital currency seems to beâ¯regaining ground lost duringâ¯theâ¯weekend panic selling sparked by renewed signs of a Chinese crackdown on the mining and trading of Bitcoin.â¯â¯
• Bitcoin was last up 12.8% to approximately US$39,210, erasing all the losses from a day earlier.â¯
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