AU Morning Wrap: ASX drops sharply as materials plunge
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• Wall St steadies after rout
• Australia shares plunged on Tuesday; ASX 200 down 2.34 per cent
• Stocks to watch: Pushpay, Woodside, Beach Energy, Nufarm
- moomoo News AU
Wall Street Summary
The Dow Jones Industrial Average suffered its worst loss since 2020 on Friday before mounting a partial recovery overnight as fears of a global slowdown pulled down interest rates.
The $Dow Jones Industrial Average (.DJI.US)$ closed 238 points or 0.7 per cent ahead this morning after being down almost 500 points intraday. The $S&P 500 Index (.SPX.US)$ bounced 24 points or 0.57 per cent. The $Nasdaq Composite Index (.IXIC.US)$ rose 166 points or 1.29 per cent.
AU Market Watch
Australia's S&P/ASX 200 is on track to open lower when the local share market opens from another holiday weekend. ASX futures are down by 0.3% despite a positive lead from U.S. stocks, which regained only some of the ground they lost in a steep selloff at the end of last week.
Australia shares opened lower this morning. The $S&P/ASX 200 (.XJO.AU)$ lost 2.34 per cent to 7298 as of 10:18 am.
The Dow Jones Industrial Average suffered its worst loss since 2020 on Friday before mounting a partial recovery overnight as fears of a global slowdown pulled down interest rates.
The $Dow Jones Industrial Average (.DJI.US)$ closed 238 points or 0.7 per cent ahead this morning after being down almost 500 points intraday. The $S&P 500 Index (.SPX.US)$ bounced 24 points or 0.57 per cent. The $Nasdaq Composite Index (.IXIC.US)$ rose 166 points or 1.29 per cent.
AU Market Watch
Australia's S&P/ASX 200 is on track to open lower when the local share market opens from another holiday weekend. ASX futures are down by 0.3% despite a positive lead from U.S. stocks, which regained only some of the ground they lost in a steep selloff at the end of last week.
Australia shares opened lower this morning. The $S&P/ASX 200 (.XJO.AU)$ lost 2.34 per cent to 7298 as of 10:18 am.
Stocks to Watch
$Pushpay Holdings Ltd (PPH.AU)$: Pushpay Holdings has confirmed that it has recently received unsolicited, non-binding and conditional expressions of interest or approaches from third parties looking to acquire the company.
$Woodside Petroleum Ltd (WPL.AU)$: Woodside Petroleum reported production of 22.3 million barrels of oil equivalent (mmboe) for the March quarter, down 1 per cent from the prior three months.
$Beach Energy Ltd (BPT.AU)$: Beach Energy has reported revenue of $458 million for the third quarter of the 2022 financial year, up 15 per cent on the previous quarter because of higher realised oil and gas prices.
$Nufarm Ltd (NUF.AU)$: Nufarm expects to raise a one-off $30 - $40 million provision in relation to the Ukrainian crisis. It also expects between $320 - $340m in underlying EBITDA for 1H22, and has mentioned that FY22 underlying EBITDA may be skewed towards 1H.
Dividends Paid Companies: $Adacel Technologies Ltd (ADA.AU)$, $Diverger Ltd (DVR.AU)$, $Peapack Gladstone Financial (PGC.US)$,
Commodities
• Iron ore plunged near 10 per cent to near $US135 a tonne.
• Oil shed near 5 per cent with US crude sliding below $US100 a barrel and gold dipped below $US1900 an ounce.
• Gold sold off as an even more hawkish Fed weighed on inflows.
Source: Dow Jones Newswires
$Pushpay Holdings Ltd (PPH.AU)$: Pushpay Holdings has confirmed that it has recently received unsolicited, non-binding and conditional expressions of interest or approaches from third parties looking to acquire the company.
$Woodside Petroleum Ltd (WPL.AU)$: Woodside Petroleum reported production of 22.3 million barrels of oil equivalent (mmboe) for the March quarter, down 1 per cent from the prior three months.
$Beach Energy Ltd (BPT.AU)$: Beach Energy has reported revenue of $458 million for the third quarter of the 2022 financial year, up 15 per cent on the previous quarter because of higher realised oil and gas prices.
$Nufarm Ltd (NUF.AU)$: Nufarm expects to raise a one-off $30 - $40 million provision in relation to the Ukrainian crisis. It also expects between $320 - $340m in underlying EBITDA for 1H22, and has mentioned that FY22 underlying EBITDA may be skewed towards 1H.
Dividends Paid Companies: $Adacel Technologies Ltd (ADA.AU)$, $Diverger Ltd (DVR.AU)$, $Peapack Gladstone Financial (PGC.US)$,
Commodities
• Iron ore plunged near 10 per cent to near $US135 a tonne.
• Oil shed near 5 per cent with US crude sliding below $US100 a barrel and gold dipped below $US1900 an ounce.
• Gold sold off as an even more hawkish Fed weighed on inflows.
Source: Dow Jones Newswires
Disclaimer: Moomoo Technologies Inc. is providing this content for information and educational use only.
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