The Australian share market is up .2 of a per cent as mining stocks surge about 1.7 per cent.
It follows a solid performance on Wall Street overnight, with Microsoft reaching a record high after recruiting OpenAI’s ousted CEO Sam Altman.
Energy is also driving gains with concerns the Organisation of the Petroleum Exporting Countries (OPEC) is considering more production cuts to hold prices high.
In other news, there are rumours circulating that former New South Wales Premier Gladys Berejiklian has put her hand up to be in the running for the chief executive role at Optus – a role made vacant by Kelly Bayer Rosmarin’s resignation yesterday.
Ms Berejiklian has been working for the company leading the enterprise and business services unit since she was found to have engaged in “serious corrupt conduct” by the Independent Commission Against Corruption (ICAC). The finding related to her involvement with her former partner, then MP for Wagga Wagga Daryl Maguire.
In company news, Fortescue Mining Group (ASX:FMG) is up 1.5 per cent after giving the go-ahead to three green hydrogen projects in the US and Australia.
It’s approved the FID for the Phoenix Hydrogen Hub in Arizona, the Gladstone PEM50 project in Queensland and a Green Iron Trial Commercial Plant at Christmas Creek in WA. It’ll invest $1.141 billion in the three projects over the next three years.
FMG has been trading at $25.68.
Fiji Kava products company, The Calmer Co (ASX:CCO) is up nearly 17 per cent after forging a partnership with Coles to sell ready-to-drink kava shots to the Australian market.
The shots will be available at Coles (ASX:COL) supermarkets around the country.
The Calmer Co has been trading at .7 of a cent.
Barton Gold Holdings (ASX:BGD) has added 300 metres to the south at its 223 Deposit within the company’s South Australia-based Tunkillia gold project. The extension results from 23 recent Reverse Circulation drill holes. Only recently, Barton extended the same target 300 metres to the north. The company reports it’s further evidence points to a commercial-scale system.
Barton Gold has last been trading at 24 cents.
And casino company, The Star Entertainment Group (ASX:SGR), is up close to three per cent after entering a binding agreement with the New South Wales Government on casino duty rates.
The duty rate amendments include increases to duties on takings from table games, poker machines and levies. While Star expects they’ll cost an additional $10 million, they are less than had been demanded by the previous state government.
The formalisation also provides certainty around these costs.
SGR has been trading at 55 cents.