Banks, energy stocks drive ASX higher; Tech stocks slump

As Australian drivers upgrade to EVs, they’re offloading their old fuel-reliant cars en masse – and prices are falling rapidly.

You may think you have lived through an enormous economic shock as the result of the rise of China. But you ain’t seen nothing yet.

Big Hits looks at notable drill intercepts reported to the ASX this week, led by Haranga Resources in California, which breathed new life into the historic Mother Lode Gold Belt.

This week’s Bulls N’ Bears ASX Runner of the Week is… Identifai, after the Israeli biotech newcomer made a stellar debut on the ASX with its AI-powered prenatal screening technology.

Aurum has hit bonanza gold, including 0.65m at 41.38g/t, outside its BST1 resource at the 3.22Moz Boundiali project, ahead of a key gold resource update due this month.

Forrestania is fast-tracking its Edna May gold restart for December. First ore is on the pad, mill liners are en route, and mining has mobilised.

Lindian Resources is set for first rare earths production in December at its Kangankunde project in Malawi, with construction and power infrastructure nearly complete.

The Australian sharemarket has clocked a third straight positive week despite a brutal mid-week sell-down, as investors grapple with fast-moving market risks.

“The worst thing possible for Hinge is for people to fall in love,” says Australian writer Alistair Kitchen, who has created his own app to rival it.

TVSN director Bernie Brookes is refusing to hand the business over to administrators as suppliers become infuriated with the home shopping network’s radio silence.

Chris Bradley resigned from Opportunity International Australia just days after his controversial remarks about the challenges female CEOs face.

The NSW unemployment rate hit 4.7 per cent last month, the highest level since November 2021.