Ramelius Resources (ASX:RMS) witnessed a spike in its shares, rising as much as 3.2% to A$1.595.

The firm’s stocks are projected to observe a 7.6% increase this week, saturating it as the most profitable week for the company since December 1.

The growth in the shares has reportedly been spurred by the company’s confirmation of its ongoing discussion with Canadian mine operator, Karora Resources, for a possible transaction.

The valuation for the acquisition of Karora Resources is still being negotiated and deliberated upon.

However, it’s essential to highlight that despite the recent surge, the company’s stock has seen an overall dip of 8.31% this year up till the last closing.

The report was brought forward by Sneha Kumar in Bengaluru.

Ramelius Resources is a success-driven gold mining company that is engaged in the exploration, extraction and sale of the same.

Shares in the mineral explorer company, Magmatic Resources (ASX:MAG), experienced a surge, reaching as much as 77.8% to A$0.08.

This marks the largest intraday percentage gain since August 23, 2022.

Concurrently, the company’s stock attained its highest level since July 24, 2023.

Magmatic Resources announced the execution of a farm-in and joint venture agreement with a unit of Fortescue.

Fortescue is expected to spend up to A$14 million over the next six years for a potential share of up to 75% in a joint venture interest in Magmatic’s Myall Project located in New South Wales.

There was a significant shift in shares as well, with about 7.1 million changing hands in contrast to the 30-day average volume of 224,436.

Despite the encouraging events, the company’s stock is currently down by 8.2% year-to-date, based on the last closure.

Magmatic Resources is a mineral exploration company.

Ramelius (ASX:RMS), an Australian exploration company, confirmed its discussions with the Canada-based mining operation firm, Karora Resources, for a potential transaction.

However, the company clarified that these talks are still ongoing without any assurance of completion.

The company rectified a typo in Karora Resources descriptor in the first paragraph.

Australian explorer Ramelius (ASX:RMS) is an Australian mining and exploration company specialising in gold mining.

Pacific Current Group (ASX:PAC), an asset manager, announced the sale of its 4% stake in GQG Partners (ASX:GQG) for $170.3 million.

This transaction was executed via a block trade with institutional investors.

Per share, the sale was conducted at A$2.16, marking a 3.6% discount to GQG’s last closure on Thursday.

Pacific Current plans to utilize a portion of the earnings from this sale to reduce its debt and invest in new ventures.

This stake sale follows a few months after Pacific Current terminated buyout discussions with GQG and River Capital, as no binding offers were received from the interested parties.

GQG has not yet provided any comments on the issue.

Pacific Current Group is an asset management company that offers a variety of investment strategies.

It operates globally, delivering regional experience for clients around the world.

Asia Morning Call-Global Markets saw stock index rallying to record highs on Wall Street and Europe following interest rate steadiness by the European Central Bank and easing likelihood in 2024 by the Federal Reserve Chair, Jerome Powell- if inflation behaved.

MSCI’s gauge of stocks throughout the globe increased 7.76 points, translating to 1.01%, reaching 773.64.

Major stock indices in New York experienced significant growth, with S&P 500 and Nasdaq both attaining intraday record highs.

This was due to growth stock support alongside investor’s optimism regarding the Federal Reserve’s potential rate cuts.

Consequently, Dow Jones Industrial Average rose 135.11 points which translates to 0.35%, reaching a high of 38,796.75.

During the same period, the S&P 500 gained 54.88 points (1.08%), resulting in 5,159.64 while the Nasdaq Composite had 263.68 points growth (1.64%), reaching 16,295.22.

On the other hand, Europe’s principal index rose significantly following the European Central Bank’s decision to hold the rate steady following signs of cooling inflation.

European markets also experienced a boost from Novo Nordisk that scored a record peak following a positive trial data of its experimental obesity drug.

In this light, the STOXX 600 hit an all-time high as it closed 1.1% higher.

Despite the Nikkei in Japan slipping from its record high as a result of selling off chip-related stocks amid the rising yen, Australian shares are preparing for a rise as hopes of stimulation from China, the leading consumer, could result in propelling domestic miners higher.

Gold broke its record high after the United States was preparing for monetary easing.

At the close of 02:00 p.m.

ET (1900 GMT), the price of Spot Gold rose by 0.4% at $2,156.93 per ounce, hitting a record high of $2,164.09 during the Asian trading hours.

The U.S.

Gold futures were 0.2% higher at $2,165.2.

Iron ore futures also rose after comments from officials in China sparked hopes for more stimulus measures.

Subsequently, the May iron ore contract on China’s Dalian Commodity Exchange ended by 1.83% higher at 890 yuan ($123.64) per metric ton.

Following better than expected trade data from China, copper prices touched their highest in five weeks while zinc also came up due to a cut in output at a major South Korean smelter.

On the front of oil prices, there were little changes as markets determined the effect of new economic data from China against the increasing supply from the Western Hemisphere.

Brent crude futures were settled flat at $82.96 for every barrel.

In the derivative exchange of Bursa Malaysia, The benchmark palm oil contract for May delivery was down 10 ringgit translating into 0.25%, reaching 4,071 ringgit i.e., $865.80 per metric ton at closing, hitting a two-day low.

Rubber futures in Japan rose for the third consecutive session following big pay hikes secured by labour unions in the country.

Despite this, the stronger yen capped gains.

On the Osaka Exchange, the rubber contract for August delivery was up by 0.1 yen that translates to 0.03%.

The contract closed at 300 yen, $2.02 per kg.

Invictus Energy (ASX:IVZ), an Australian company, is reportedly within weeks of finalising a Production Sharing Agreement (PSA) with the government of Zimbabwe for the development of its Cabora Bassa project.

This announcement was made by a non-executive director of the company following considerable delays.

The PSA will be a significant resolution for Invictus as it aims to commercialise gas discoveries in the north of Zimbabwe.

Industry veteran and non-executive director at Invictus, Robin Sutherland, mentioned that recent discussions with senior Zimbabwean government officials had been positive, with central bank governor, John Mangudya, indicating a willingness to expedite negotiations.

Following a delay of approximately four years, this PSA will provide Invictus with the green light to commercialise its discovery.

Invictus Energy, which will conduct 3D surveys and verify the Mukuyu-2 well’s flow rate, has already signed a gas sales agreement with Mbuyu Energy for a 500 megawatt gas-to-power project.

Invictus Energy is an oil and gas exploration company that focuses on high impact energy resources in sub-Saharan Africa.

On March 7, noteworthy bids, mergers, acquisitions, and disposals were reported.

Warner Music Group (NYSE: WMG) announced it had plans to bid at least 17 euros per share for Believe (Euronext: BLV), a French digital music firm.

The bid valued Believe at 1.65 billion euros, outdone an early takeover offer from a consortium.

The Nationwide Building Society stated it had agreed to acquire Virgin Money UK in a potential all-cash 2.9 billion-pound deal, which could result in Britain’s second-largest savings and mortgage provider.

The Spanish utility Iberdrola announced it was launching a bid to acquire the remaining 18.4% stake in its U.S.

subsidiary Avangrid, a deal estimated to be around $2.49 billion.

In the Asia region, Singapore Telecommunications offloaded a 0.8% stake in India’s Bharti Airtel to U.S.

investment firm GQG Partners for approximately S$950 million.

Further, the Geneva-based trading house Montfort Group was reported to be in talks to sell a part or all of its refining facility in the United Arab Emirates to the fuel oil arm of Chinese state-run giant Sinopec Corp.

Exxon Mobil Corp informed it has filed a contract arbitration claim pertaining to Hess Corp’s proposed sale of its Guyana oil assets, and hinted it may counter Chevron Corp’s pending deal for the assets.

Germany-based renewable energy producer Encavis AG mentioned it was in dialogue with KKR & Co concerning a potential deal.

The Italian shipbuilder Fincantieri was reported to be in talks with Leonardo to purchase the defence group’s submarine branch, Whitehead Alenia Sistemi Subacquei (Wass).

Warner Music Group (NYSE: WMG) is an American multinational entertainment and record label conglomerate headquartered in New York City.

Qantas Airways (ASX:QAN) is earnestly undertaking actions to protect the ecosystem by pledging an A$10 million commitment to help restore the Great Barrier Reef.

Qantas Airways (ASX:QAN) is one of the world’s largest airlines, based in Australia, servicing both domestic and international routes.

In a recent update, a spokesperson for Orica (ASX:ORI) made known the company’s awareness of a gas pipeline incident that is currently impacting gas supply to the Yarwun operations based in Central Queensland.

Regardless of this incident, they assure that the production of ammonium nitrate will continue as normal.

The company has been working closely with Jemena to safely reduce cyanide production at the site until the incident gets resolved.

Moreover, the company guarantees that they don’t expect any disruption in supply to their customers at this stage.

Orica is a multinational corporation that provides specialist chemical products for mining and infrastructure services.

Shares of Rent.com.au (ASX:RNT) rose as high as 6.3% to A$0.034, reaching their highest level since February 22nd.

The rise in share price comes after the real estate websites operator announced it has introduced additional payment options on its RentPay platform.

Furthermore, Rent.com.au announced a partnership with Novatti Group to provide Alipay, WeChat Pay, and UnionPay payment solutions for its user base.

Rent.com.au’s stock has experienced a significant upturn, showing an approximate 88% increase year-to-date.

Rent.com.au is a key operator of real estate websites offering a comprehensive platform for renters, agents and landlords in Australia.