1 October we become SureStone CapitalSame team, same ABN. Our website and email addresses move to surestone.com.au.
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Key Points:
- Intel jumps 23% after $5 billion Nvidia investment
- Perseus Mining receives approval for Yara gold mine, extending project life to 2035
- Atlas Arteria maintains distribution, Platinum Asset Management merger moves forward
- AGL and Simba Renewables win approval for large-scale wind power project in New South Wales
The local share market starts the session on a positive note, rising around 0.4%, buoyed by overnight gains in US share markets following a quarter-point interest rate cut and signals of further easing from the Federal Reserve. Tech giants are in the spotlight, with Intel ($INTC) achieving its biggest daily surge since 1987, soaring 23% after Nvidia ($NVDA) announced a $5 billion investment in the company. In Australia, Perseus Mining (ASX:PRU) gains attention after securing approval to develop the Yara gold mine in Côte d'Ivoire, expected to extend the project's life until at least 2035, with operations commencing in early 2026.
Atlas Arteria (ASX:ALX) declares a $0.20 per security distribution for the first half, maintaining the payout from the previous corresponding period. Platinum Asset Management (ASX:PTM) voices continued support for its merger with L1 Capital, stressing the potential for reduced costs as an extraordinary AGM approaches. Meanwhile, AGL Energy (ASX:AGL) and Simba Renewables receive federal government approval to proceed with the Pottinger Energy Park, a major wind project in New South Wales that could power up to 830,000 homes.
Share activity is also observed in Telix following a broker upgrade, and attention turns to Canberra Data Centre after Infratil’s investors day highlighted continued growth prospects. Broker ratings are in focus with Citi initiating coverage on Telix Pharmaceuticals ($HLX) with a high-risk buy, and Bell Potter backing Orica (ASX:ORI) with a buy rating, citing diversification and earnings growth potential.
