AU Morning Wrap: ASX opens higher as Albanese sworn in as next prime minister
G'day, mooers! Check out the latest news on today's stock market!
• Wall St bounces from bear market territory
• Australian shares opened higher on Monday; ASX 200 up 0.37 per cent
• Stocks to watch: Elders, Star Entertainment, Incitec Pivot
- moomoo News AU
Wall Street Summary
Friday's headline figures disguise another wild ride for investors as the $S&P 500 Index (.SPX.US)$'s decline from its January high surpassed 20 per cent. The index fell as much as 2.3 per cent before late buying lifted it to a final gain of 0.57 points or 0.01 per cent.
The $Dow Jones Industrial Average (.DJI.US)$ eked out a rise of nine points or 0.03 per cent. The $Nasdaq Composite Index (.IXIC.US)$ trimmed its loss to 34 points or 0.3 per cent.
AU Market Watch
Australia's S&P/ASX 200 is on track to open modestly lower following the weekend's federal election. The center-left Labor party set to form a government. ASX futures are down by 0.2%. The ASX 200 closed 1.2% higher on Friday, snapping a run of four weekly losses.
Australian shares opened higher this morning. The $S&P/ASX 200 (.XJO.AU)$ gained 0.37 per cent to 7172 as of 10:07 am.
Stocks to Watch
$Elders Ltd (ELD.AU)$: Australian agribusiness Elders has outperformed its 2021 first half in all product areas and geographies in the six months to March 31. This was led by its rural products, with sales up 47 per cent and wholesale product sales up 27 per cent on the prior corresponding period (pcp).
$The Star Entertainment Group Ltd (SGR.AU)$: The Star Entertainment Group has announced that Ben Heap will assume the role of interim chairman and Geoff Hogg the position of acting chief executive from June 1, following the resignation of John O’Neill as executive chairman.
$Incitec Pivot Ltd (IPL.AU)$: Incitec Pivot has announced it intends to implement a structural separation of its fertilisers and Dyno Nobel businesses to create two separately listed companies on the ASX.
Commodities
• Iron ore futures surged 2.5% to US$134.4/t.
• Oil choppy around US$110 last week as various forces cancel each other out. Weak economic and corporate earnings data, rising US oil rig count.
• Gold is on a 4-day win streak as bond yields and the US dollar begin to decline after a massive run.
Source: Dow Jones Newswires, AFR
$Elders Ltd (ELD.AU)$: Australian agribusiness Elders has outperformed its 2021 first half in all product areas and geographies in the six months to March 31. This was led by its rural products, with sales up 47 per cent and wholesale product sales up 27 per cent on the prior corresponding period (pcp).
$The Star Entertainment Group Ltd (SGR.AU)$: The Star Entertainment Group has announced that Ben Heap will assume the role of interim chairman and Geoff Hogg the position of acting chief executive from June 1, following the resignation of John O’Neill as executive chairman.
$Incitec Pivot Ltd (IPL.AU)$: Incitec Pivot has announced it intends to implement a structural separation of its fertilisers and Dyno Nobel businesses to create two separately listed companies on the ASX.
Commodities
• Iron ore futures surged 2.5% to US$134.4/t.
• Oil choppy around US$110 last week as various forces cancel each other out. Weak economic and corporate earnings data, rising US oil rig count.
• Gold is on a 4-day win streak as bond yields and the US dollar begin to decline after a massive run.
Source: Dow Jones Newswires, AFR
Disclaimer: Moomoo Technologies Inc. is providing this content for information and educational use only.
Read more
Comment
Sign in to post a comment
Moomoo News Official Account
Australian stock market news that is available at your fingertips
4350Followers
6Following
135KVisitors
Follow