Mining titans BHP and Rio Tinto struck fresh highs on Tuesday to help the Australian sharemarket finish at a new record and close above 7400 points for the first time in history.
MLC Asset management portfolio manager Anthony Golowenko said the market was clearly enjoying the benefits of a global reopening trade - even if the coronavirus spread continues across the nation’s largest city. Twiggy Forrest’s Fortescue Metals added 1.6 per cent to close just short of its January record at $25.82.
Portfolio manager Nick Griffin of Melbourne-based Munro Partners said investors could take heart from the UK and the US and the impact of high vaccination rates. Well, according to Gina Rinehart they do. A long-time and very generous sponsor of several Australian Olympic teams, she is offering a $100,000 cash prize pool to swimmers if they win gold, silver, or bronze medals through the Hancock Prospecting Swimmer Support Scheme. There is also a $32,000 prize pool for coaching staff.A swimmer who wins gold will receive $1,200, silver comes with a $750 bonus, and it’s $500 for bronze. There is no cap on how much prize money an individual can win.
The stock price jumped as much as 9.5 per cent this morning, taking shares up to a two-week high of $1.38. Galaxy Resources gained 0.7 per cent to $4.67, and Liontown Resources rose 1.9 per cent to 81.5 cents. Mr Bart is also the chairman and chief executive at Audiopixels, chairman at Noxopharm, and a director at Weebit Nano.In Mr Bart’s place, the firm has named long-time director Peter Leahy AC as chair.
Meanwhile, in December it was awarded a $34.4 million contract by the government for its Command Control Communications and Computers – Evolutionary Digital Ground Environment program.The crystallisation of a globalised workforce, Freelancer, dropped as much as 21.2 per cent earlier today after releasing first half results showed it still isn’t making money despite 1.5 million jobs flowing through its system.Freelancer’s chief executive and largest shareholders, Matt Barrie.
It receives a 3 per cent commission from clients when a job is awarded and 10 per cent from the worker. With the average job price on Freelancer running at $200, its average commission would be around $26.
Paper money.... poof..... all gone