Considering the financial climate up until June, the earnings of Australian companies supervised by Citi have largely met predictions.

Citi has forecast a 14.6% decrease in earnings for the resources sector in FY23.

They also anticipate that earnings of banks will continue to be robust, predicting a 8.9% growth in FY23, although a decline is foreseen for FY24.

For the broader listed Australian market, Citi estimates a fall by 2.8% in earnings for fiscal 2023, compared to Visible Alpha’s estimate of 2.3%.

Citi further predicts a decrease by 3.7% for the fiscal year 2024.

Citi is an American multinational investment bank and financial services corporation.

Analysts at Citi have increased their price target on Australia’s PWR Holdings (ASX:PWH) to A$11.75 per share, up from a previous target of A$11.55 per share.

The financial firm states PWR Holdings' fiscal year 2023 results were in line with their estimates, as net profit after tax experienced a 4.4% increase.

The financial firm further projects that the company will return to around 20% revenue growth in fiscal 2024, and maintains a ‘Buy’ rating on the stock.

Estimates for net profit after tax on the designer, manufacturer, and supplier of advanced cooling solutions have been increased by 1-6% for fiscal years 2024 and 2025.

Across a panel of eight analysts, five rate the PWR Holdings' stock as a ‘buy’ or higher, two recommend holding it, and one suggests selling.

These analysts have a median price target of A$10.71, according to Refinitiv data.

As of the most recent closing value, the stock has experienced a 9.3% decline this year.

PWR Holdings (ASX:PWH) is an Australian company that designs, manufactures, and supplies advanced cooling solutions.

Shares of Freedom Holding (ASX:FRHC), a financial services firm based in Kazakhstan, have seen a significant lift, as high as 18.5%, on Friday after being subjected to a harsh critique by U.S.

short seller Hindenburg Research.

FRHC’s shares reached an impressive $82.76, with trade amounts close to two times the 10-day moving average partway through the day.

It was only on Tuesday that FRHC saw a substantial drop in their share value, as Hindenburg announced a short position in the company, claiming their research had exposed ‘hallmark signs of fake revenue’ and evidence of the firm dodging sanctions.

This report led FRHC shares to hit a six-month low on Wednesday.

However, FRHC rebuffed Hindenburg’s allegations, with CEO Timur Turlov firmly asserting in Thursday’s interview that his firm will continue to serve non-sanctioned Russian clients.

Turlov defended his company, stating that they had revealed details of their dealings with sanctioned clients in approximately seven inspections by Kazakhstan’s financial regulatory body within the past year.

By the end of trading on Friday, FRHC shares had climbed to $81.80, a 17.1% uptick.

Taking Friday’s surge into account, the stock has made an impressive 40% year to date.

Freedom Holding (ASX:FRHC) is a Kazakhstan-based financial services firm.

MMG has announced the appointment of Xu Jiqing in the capacity of board chairman.

MMG (ASX:1208) is a global mining company specializing in base metals for broad application in a range of industrial sectors.

Copper miners are witnessing a downward trend, mirroring the metal’s price.

The U.S.-listed shares of Rio Tinto (ASX:RIO) and BHP Group experienced a respective drop of 0.6% and 1%.

A three-month copper on the London Metal Exchange fell by 0.3% to $8,210 a ton.

This is due to less than satisfactory economic figures emerging from China, the top consumer, compounded by ongoing difficulties in the country’s property sector.

The metal, predominantly used in power and construction, is currently down 1% this week.

Other copper miners such as Southern Copper and Freeport-McMoRan also saw a decline in their shares by 2.5% and 1.6%, respectively.

Additionally, Teck Resources, First Quantum Minerals, Hudbay Minerals and Ero Copper recorded a drop between 0.1% and 1.6%.

Rio Tinto (ASX:RIO) is a British-Australian multinational and one of the world’s largest metals and mining corporations.

Telstra Group (ASX:TLS) expressed their intention to establish a sustainable reseller business.

However, the company admitted that the ambition of a mid-teens margin is unlikely to be met by the end of FY25.

Telstra Group is among Australia’s largest telecommunications companies, offering a wide range of services in addition to serving as a primary telecom provider.

Ariadne Australia (ASX:ARA) has projected that its net profit attributable for the year leading up to 30th June 2023 will be A$11.1 Million.

This projected figure was attributed to a large one-time cash dividend of A$11.1 Million received from Ardent Leisure Group following the sale of their US business.

Ariadne Australia is a diverse Australian wealth management and advisory firm with interests in investments, finance and property.

New Zealand’s Fonterra Co-Operative Group (ASX:FCG) faced its most severe decline day recently, ending 22.2% lower at a price of NZ$2.52.

This marks the company’s lowest mark since May 31, 2022.

Previously put on a halt on Tuesday, the shares have started trading ex-dividend once more.

In addition to the drop in share price, the dairy conglomerate has also lessened its forecast for farmgate milk prices for the second occasion in this month, in response to a faltering global dairy industry.

Its new anticipated pay lies in the region of NZ$6.00-NZ$7.50 per kilogram of milk solid (kgMS) for the 2023-24 season, a reduction from the past prediction of NZ$6.25-NZ$7.75 per kgMS.

According to Fonterra’s CEO, Miles Hurrell, a waning demand from crucial importing areas for whole milk powder is pressing down on prices.

Fonterra is a global dairy nutrition company owned by 10,000 farmers and their families.

Shares in Corazon Mining (ASX:CZN) experienced an impressive surge by as much as 33.3% to A$0.02, marking their biggest intraday percent gain since July 13.

This put the stock at its highest level since July 17.

The mining company disclosed that they have entered into a new exploration agreement with Marcel Colomb First Nation (MFCN) in the Lynn Lake area in Manitoba, Canada.

This agreement is set up for exploration and development activities at the Lynn Lake Nickel Sulphide Project and, in addition, the Fraser Lake Project in Canada.

In accordance with the agreement, MFCN will be issued up to A$75,000, along with an estimated 5.3 million shares at an issue price of $0.014 per share and one Corazon option for each share issued.

Despite the promising development, Corazon Mining’s stock is down by 28.6% this year, as of the last close.

Corazon Mining (ASX:CZN) is a company focused on the exploration of mining projects in Canada.

Shares of Galena Mining (ASX:G1A) ascended as much as 12.5% to A$0.135, a level not seen since April 28.

The prominent precious metals miner announced receiving significant high-grade assay results of lead and silver from its Abra project in Western Australia.

The company pointed out that these results strengthen their confidence in their existing mine plan.

Topics like mineral resource conversion and extension, and production guidance, have been emphasized by the company.

However, despite the recent upsurge, the company’s stock has seen a downturn of 52% this year until the prior close.

Galena Mining (ASX:G1A) is a metals mining company focused on the production of precious metals such as lead and silver.