Company Interview / the COB: bitcoin's boom

The S&P/ ASX 200 continued losing ground during Tuesday’s session, closing down 0.13% to 8255.60 points.  Losses in the mining and energy sectors overshadowed gains made in tech and the real estate space. Paladin Energy downgraded its FY25 production guidance, sending its shares down a whopping 28.9%, by far today’s biggest laggard.  The energy sector was generally in the red today, amid lower oil prices and as delegates gather at the two week COP29 meeting to green-light global carbon credit market rules. The tech and real estate sectors performed well. Citi anticipates continued demand-growth for data centres globally, notably benefitting Goodman Group. UBS also told us at the UBS Australasia conference they’re bullish on GMG. Shares finished down 0.2% to $36.52.  UBS is also bullish on the tech trade. Afterpay-operator Block made double-digits gains, placing it as the best performer of the day. Among the financial stocks, NAB dropped 3% while ANZ and Macquarie pushed ahead.  After flagging strong growth in its health insurance business at its AGM last week - nib Holdings upgraded its guidance to the $235-$250 million range. Bitcoin still appears to be riding the Trump train, reaching record highs as it marches towards US$90,000 per coin. Tomorrow, the 3Q wage price index is due, while US CPI comes out during the US session Wednesday. Both are expected to pick up.