Two supermarket heavyweights, Coles Group Ltd [ASX:COL] and Woolworths Group Ltd [ASX:WOW] have avoided massive sell-offs in this downturn. Today we look at the Coles share price in comparison with the Woolworths share price, to see which could be sturdier as the months in self-isolation progress.
At time of writing, the share price of Lynas Corporation Limited [ASX:LYC] is down a further 4.96%, trading at $2.30. After shooting up towards the end of June, the Lynas share price has fallen sharply in the last two weeks as trade tensions ease (again). You can see the timing of Trump policy...
Today, Lynas Corporation Ltd [ASX:LYC] is set to reach more multi-year highs, as the Malaysian Prime Minster gave his strongest indication to date that the company will be allowed to continue operating its controversial processing plant.At the time of writing Lynas’ share price is trading at $3.04, up 10.95%.
This new ban has seen a decline in the Wesfarmers share price, currently at a decrease of 1.22% (trading at $36.88 a share), as it complicates their takeover plans of Lynas Corporation Ltd [ASX:LYC]
Today, Kidman Resources Ltd [ASX:KDR] announced it had entered a Scheme Implementation Deed (SID), proposing Wesfarmers Limited [ASX:WES] acquire 100% of Kidman’s shares at $1.90 by way of a Scheme of Arrangement.At time of writing, Kidman Resources' share price is sitting at $1.90.
The company has recently come out of a trading halt and provided clarification on its reserves. Meanwhile, there are signs that Lynas could benefit from worsening US–China trade war tensions.
The latest news out of the company is that it has signed a Memorandum of Understanding (MoU) with a US company for a joint venture (JV) processing facility to be based in Texas.
Today, Wesfarmers Ltd [ASX:WES] launched a $776 million takeover bid for lithium mining company Kidman Resources Ltd [ASX:KDR].At the time of writing, Kidman Resources’ share price is trading 44.44% higher, at $1.86 apiece.
It has been a busy news day for Lynas as it responded to comments by the Malaysian Prime Minister and it was revealed that it is considering the the possibility of moving its ‘cracking and leaching’ operations closer to its resource in Western Australia.
At time of writing, there have been broad-based gains for blue chip stocks and the ASX 200 is up 39.2 points.