One of this week's top stories was the US Federal Reserve's decision to cut interest rates by 25 basis points, marking its first reduction of the year as it balances persistent inflation with signs of slowing economic momentum.
And now, let's take a look at some of the stocks that made news on the ASX.
Lightning Minerals (ASX:L1M) had a stellar week on news it's kicked off drilling at Mt Turner in Queensland, targeting high-priority gold and silver zones beneath existing pits.
St George Mining (ASX:SGQ) was also up after confirming it's struck a major new discovery of high-grade rare earths and niobium at its 100%-owned Araxá Project in Brazil. First assays included up to 48 metres at more than 5% total rare earth oxides and grades reaching nearly 17%.
Super Retail (ASX:SUL) took a dive this week after the sudden departure of its CEO Anthony Heraghty. The board says new information about Heraghty’s relationship with the company’s former HR chief meant his prior disclosures were ‘not satisfactory.’
Contact Energy (ASX:CEN) also plunged after its latest monthly report showed mass market electricity and gas sales fell down to 454 gigawatt-hours in August, compared with 456 gigawatt-hours just a year ago.
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