AU Morning Wrap: US inflation hits 40-year high of 7.9%; ASX opens higher

Wall Street Summary
US Stocks ended Thursday in the red after the latest war talks between Russia and Ukraine broke down and U.S. inflation clocked in at a 40-year high.
The $Dow Jones Industrial Average (.DJI.US)$ slid 112 points, or 0.3%, one day after the benchmark surged 2% on hopes for a quicker resolution to the war. The $S&P 500 Index (.SPX.US)$ followed its best day of the year with a decline of 0.4%. The $Nasdaq Composite Index (.IXIC.US)$ declined 1%. All three indexes finished above their lowest levels of the day as the price of oil swung to a loss from a gain.

AU Market Watch
ASX futures are down by 0.8%, suggesting a pull-back from Thursday's 1.1% gain. Australian stocks are up by 0.3% so far this week amid gains by tech and banking stocks, the latter buoyed by indications that the Reserve Bank may raise interest rates this year.

Australia shares opened higher on this morning. The $S&P/ASX 200 (.XJO.AU)$ gained 0.12 per cent to 7139 as of 10:32 am.

Stocks to Watch
$Nickel Industries Ltd (NIC.AU)$ withdrew its share purchase plan after the value of its shares dropped by 26% over the past three days. The company on Friday said it had received applications totaling 57 million Australian dollars for the capital raise, which it announced in February. Nickel Mines had hoped to raise A$18 million.

Appliance manufacturer and distributor $Breville Group Ltd (BRG.AU)$ will spend nearly $170 million to acquire Italian upmarket coffee machine maker LELIT in a move designed to significantly strengthen Breville's footing in the coffee market.

Ex-dividend companies
$WiseTech Global Ltd (WTC.AU)$, $Kelsian Group Ltd (KLS.AU)$, $Deterra Royalties Ltd (DRR.AU)$, $Base Resources Ltd (BSE.AU)$

Commodities
• Iron ore prices continue to ease but remain above the symbolic US$150 a tonne level.