AU Morning Wrap: Santos boss says its undervalued; Ramsay confirms KKR bid
G'day, mooers! Check out the latest news on today's stock market!
• Wall St got lift from tech rebound
• Australia shares opened higher on Wednesday; ASX 200 up 0.63 per cent
• Stocks to watch: Santos, BetMakers, Ramsay Health Care, Rio Tinto
- moomoo News AU
Wall Street Summary
U.S. stocks and government bond yields both rose amid analyst expectations that profits from big companies will keep growing even as costs rise.
The $S&P 500 Index (.SPX.US)$ advanced 1.6%, the $Dow Jones Industrial Average (.DJI.US)$ added 1.5%, and the tech-heavy $Nasdaq Composite Index (.IXIC.US)$ gained 2.2% to 13619.66.
AU Market Watch
Australia's S&P/ASX 200 is on track to open higher, potentially building a platform for a third straight gain after U.S. stocks enjoyed their best day in a month. ASX futures are up by 0.6%, suggesting the benchmark index will add to Tuesday's 0.6% rise, which was powered by shares of large-cap companies.
Australia shares opened higher this morning. The $S&P/ASX 200 (.XJO.AU)$ gained 0.63 per cent to 7613 as of 10:16 am.
Stocks to Watch
$Santos Ltd (STO.AU)$: Santos has flagged plans to deliver an on-market share buyback worth up to $US250 million as part of a new capital management framework.
$BetMakers Technology Group Ltd (BET.AU)$: Reports in the News Corp-owned Wall Street Journal suggest News Corp is planning to enter the Australian sports betting market via a partnership with Matt Tripp's ASX-listed bookmakers BetMakers.
$Ramsay Health Care Ltd (RHC.AU)$: Ramsay Health Care has received a takeover proposal by a "consortium of financial investors led by KKR". The proposal offers $88/share, less any distributions after the date of the Indicative Proposal, incl the "ordinary dividend of $0.485 per share paid on 31 March 2022".
$Rio Tinto (RIO.US)$: Rio Tinto produced 71.7mln tonnes of iron ore in Q1, 6% lower than pcp. Pilbara shipments in Q1 were 8% lower than pcp. Increased production volumes and improved product mix seen in 2H, full year shipments guidance remains unchanged.
Ex-dividend Companies: $Washington H Soul Pattinson & Co Ltd (SOL.AU)$
Dividends Paid Companies: $Apiam Animal Health Ltd (AHX.AU)$, $Eagers Automotive Ltd (APE.AU)$
Commodities
• Iron ore prices slipped, in-line with the broad-based pullback in commodity prices.
• Oil prices fell as lower economic growth forecasts.
• Gold prices pull back sharply as profit taking kicks in.
Source: Dow Jones Newswires, Market Index
$Santos Ltd (STO.AU)$: Santos has flagged plans to deliver an on-market share buyback worth up to $US250 million as part of a new capital management framework.
$BetMakers Technology Group Ltd (BET.AU)$: Reports in the News Corp-owned Wall Street Journal suggest News Corp is planning to enter the Australian sports betting market via a partnership with Matt Tripp's ASX-listed bookmakers BetMakers.
$Ramsay Health Care Ltd (RHC.AU)$: Ramsay Health Care has received a takeover proposal by a "consortium of financial investors led by KKR". The proposal offers $88/share, less any distributions after the date of the Indicative Proposal, incl the "ordinary dividend of $0.485 per share paid on 31 March 2022".
$Rio Tinto (RIO.US)$: Rio Tinto produced 71.7mln tonnes of iron ore in Q1, 6% lower than pcp. Pilbara shipments in Q1 were 8% lower than pcp. Increased production volumes and improved product mix seen in 2H, full year shipments guidance remains unchanged.
Ex-dividend Companies: $Washington H Soul Pattinson & Co Ltd (SOL.AU)$
Dividends Paid Companies: $Apiam Animal Health Ltd (AHX.AU)$, $Eagers Automotive Ltd (APE.AU)$
Commodities
• Iron ore prices slipped, in-line with the broad-based pullback in commodity prices.
• Oil prices fell as lower economic growth forecasts.
• Gold prices pull back sharply as profit taking kicks in.
Source: Dow Jones Newswires, Market Index
Disclaimer: Moomoo Technologies Inc. is providing this content for information and educational use only.
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