ASX VIDEO (11 November): China’s stimulus falls flat, iron ore miners slump
Full story: https://grafa.com/news/market-update-...
China's stimulus a fizzer, an alcohol retailer is facing tough times ahead, and a graphite deal for a major carmaker. This is the Graffer Daily ASX Market Update. Now let's take a look at the big stories of the day. The Australian share market opened lower on Monday, dragged down by mining and energy stocks. Investors were disappointed by China's latest economic stimulus package, causing major miners like BHP and Rio Tinto to fall sharply. Also making news, Endeavor Group, the parent company of Dan Murphy's and BWS, has warned of a potential hit to its retail business profits. Factors such as softer sales, lower margin sales mix, and inflation are expected to impact the company's earnings margin for the first half of FY25. And finally, Novonix has signed a deal with Stellantis to supply a significant amount of high-performance synthetic graphite material. Let's check how the markets are tracking. The ASX is lower, with financials dragging down the index. Stay up to date with all the breaking news as it happens by checking out Graffer.com.
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