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Mining revenue fell 50% as company pivots to AI infrastructure and hedging strategies.
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Key PointsSilicon Motion Technology creates NAND flash controllers, which are a critical component of the memory boom.
Ian Anderson of Merchant West Investments and Kundayi Munzara of Sesfikile Capital see improving fundamentals, attractive yields and the potential for annual returns in the teens.
Oil prices climbed to their highest level in six weeks on Monday, driven by rising geopolitical tensions.
The Loonie gains some traction versus the Greenback, while the latter posts modest losses, as US and Canadian financial markets remain closed in observance of Labour Day.
Asian stocks were set to edge lower as tensions in the Middle East pushed oil prices higher, adding to inflation concerns and keeping investors wary of the prospect of further monetary tightening.
Oil extended gains as traders watched for details of an Iranian deal with Oman to manage shipping through the Strait of Hormuz, which could tighten Tehran’s control over the crucial waterway.
