AU Morning Wrap: ASX opens higher after Wall St rebounds

Moomoo News AU wrote a column · Apr 14, 2022 08:12

G'day, mooers! Check out the latest news on today's stock market!
• US airlines rallied on upbeat earnings,
• Australia shares opened higher on Thursday; ASX 200 up 0.44 per cent
• Stocks to watch: Monadelphous, Uniti, Allkem, Bank of Queensland
- moomoo News AU

AU Morning Wrap: ASX opens higher after Wall St rebounds

Wall Street Summary
Benchmark US indices closed higher on Wednesday, April 13, as a new earnings season set in and growth stocks salvaged some of their recent losses as investors shrugged off inflation worries.

The $S&P 500 Index (.SPX.US)$ was up 1.12% to 4,446.59. The $Dow Jones Industrial Average (.DJI.US)$ increased by 1.01% to 34,564.59. The $Nasdaq Composite Index (.IXIC.US)$ rose 2.03% to 13,643.59, and the small-cap Russell 2000 up 1.92% to 2,025.10.

AU Market Watch
Australia's S&P/ASX 200 is set to rise after Wall Street gained amid the start of the U.S. earnings season. ASX futures are up 0.2%, suggesting the benchmark index will extend Wednesday's higher close at the open.

Australia shares opened higher this morning. The $S&P/ASX 200 (.XJO.AU)$ gained 0.44 per cent to 7512 as of 10:13 pm.

Stocks to Watch
$Monadelphous Group Ltd (MND.AU)$: Engineering company Monadelphous Group has secured new contracts and extensions in the resources and energy sectors in Australia and Papua New Guinea totalling about $230 million.

$Uniti Group Ltd (UWL.AU)$: Uniti has entered into a scheme implementation deed with the Morrison/Brookfield Consortium under which it will acquire 100 per cent of the issued share capital of the internet provider for a cash price of $5 a share.

$Allkem Ltd (AKE.AU)$: Australia and Argentina-based lithium carbonate producer Allkem plans to triple lithium production by 2026 and maintain a 10 per cent share of the global lithium market.

$Bank of Queensland Ltd (BOQ.AU)$: Bank of Queensland's first-half profit increased 38 per cent to $212 million.

Ex-dividend Companies: $Diverger Ltd (DVR.AU)$, $New Hope Corp Ltd (NHC.AU)$, $Spheria Emerging Co Ltd (SEC.AU)$

Commodities
• Iron ore prices fell amid downtrends in both futures and swap markets.
• Oil prices were unfazed after the US Energy Information Agency (EIA) posted a 9.4m barrel jump in oil stockpiles - the biggest build since March 2021.
• Gold extends its winning streak to five consecutive days.

Source: Dow Jones Newswires, Market Index

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