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-- 3.049 AU Morning Wrap: ASX opens lower, materials gain
G'day, mooers! Check out the latest news on today's stock market!
• U.S. markets were closed for the Memorial Day public holiday
• Australian shares opened lower on Tuesday, ASX 200 down 0.32 per cent
• Stocks to watch: a2 Milk, Appen, Straker, ResApp
- moomoo News AU
AU Market Watch
The recent rally by Australia's S&P/ASX 200 looks likely to pause at the open. ASX futures are down by 0.2%, suggesting the benchmark index may slip slightly after opening the week with a 1.5% gain. The ASX 200 is down by 2.0% for May with one day of the month remaining, but has rallied 5.0% over the past three weeks. Australian mining stocks could get some support after prices of both gold and iron-ore rose. Brent futures are also higher, which may benefit shares of energy producers.
Australian shares opened lower this morning. The $S&P/ASX 200 (.XJO.AU)$ lost 0.32 per cent to 7263 as of 10:29 am.
The recent rally by Australia's S&P/ASX 200 looks likely to pause at the open. ASX futures are down by 0.2%, suggesting the benchmark index may slip slightly after opening the week with a 1.5% gain. The ASX 200 is down by 2.0% for May with one day of the month remaining, but has rallied 5.0% over the past three weeks. Australian mining stocks could get some support after prices of both gold and iron-ore rose. Brent futures are also higher, which may benefit shares of energy producers.
Australian shares opened lower this morning. The $S&P/ASX 200 (.XJO.AU)$ lost 0.32 per cent to 7263 as of 10:29 am.
On bitstamp.net, bitcoin was 7.5 per cent higher to $US31,257 near 6.30am AEST.
Stocks to Watch
$The a2 Milk Co Ltd (A2M.AU)$: Broker Barrenjoey says a2 Milk could apply to sell infant milk formula (IMF) in the US, which is suffering a severe IMF shortage. a2 Milk has sold its a2-only-protein supermarket milk in the US for more than five years, but the segment is yet to turn a profit.
$Appen Ltd (APX.AU)$: Broker Wilsons has run the rule over Appen's latest trading update and axed its share price target by 11 per cent to $5.80, versus the $6.30 price shares closed at on Monday.
$Straker Ltd (STG.AU)$: Auckland-based small-cap tech business Straker Translations has posted an FY 2022 net loss of $NZ5.9 million on sales up 78 per cent to $NZ55.9 million. It said it posted an adjusted EBITDA profit of $NZ1.2 million over H2 FY 2022.
$Raptor Resources Ltd (RAP.AU)$: Micro-cap healthcare researcher ResApp is in a trading halt related to the status of a $100 million takeover bid from global pharmaceutical giant Pfizer.
Ex-Dividend: $Infratil Ltd (IFT.AU)$, $My Food Bag Group Ltd (MFB.AU)$, $Orica Ltd (ORI.AU)$, $PARTNERSGG UNITS (PGG.AU)$, $Pengana International Equities Limited (PIA.AU)$
Dividends Paid: $Australian Finance Group Ltd (AFG.AU)$, $Janus Henderson Group PLC (JHG.AU)$, $Kelly Partners Group Holdings Ltd (KPG.AU)$, $Plato Income Maximiser Ltd (PL8.AU)$, $Red Hill Minerals Ltd (RHI.AU)$
Commodities
• Iron ore inched higher amid better market sentiment after lower cases of covid in China, according to Fastmarkets.
• Oil prices are rallying as EU closing in on a Russian oil ban.
• Gold is holding around US$1,855 an oz.
Source: Dow Jones Newswires, AFR
Stocks to Watch
$The a2 Milk Co Ltd (A2M.AU)$: Broker Barrenjoey says a2 Milk could apply to sell infant milk formula (IMF) in the US, which is suffering a severe IMF shortage. a2 Milk has sold its a2-only-protein supermarket milk in the US for more than five years, but the segment is yet to turn a profit.
$Appen Ltd (APX.AU)$: Broker Wilsons has run the rule over Appen's latest trading update and axed its share price target by 11 per cent to $5.80, versus the $6.30 price shares closed at on Monday.
$Straker Ltd (STG.AU)$: Auckland-based small-cap tech business Straker Translations has posted an FY 2022 net loss of $NZ5.9 million on sales up 78 per cent to $NZ55.9 million. It said it posted an adjusted EBITDA profit of $NZ1.2 million over H2 FY 2022.
$Raptor Resources Ltd (RAP.AU)$: Micro-cap healthcare researcher ResApp is in a trading halt related to the status of a $100 million takeover bid from global pharmaceutical giant Pfizer.
Ex-Dividend: $Infratil Ltd (IFT.AU)$, $My Food Bag Group Ltd (MFB.AU)$, $Orica Ltd (ORI.AU)$, $PARTNERSGG UNITS (PGG.AU)$, $Pengana International Equities Limited (PIA.AU)$
Dividends Paid: $Australian Finance Group Ltd (AFG.AU)$, $Janus Henderson Group PLC (JHG.AU)$, $Kelly Partners Group Holdings Ltd (KPG.AU)$, $Plato Income Maximiser Ltd (PL8.AU)$, $Red Hill Minerals Ltd (RHI.AU)$
Commodities
• Iron ore inched higher amid better market sentiment after lower cases of covid in China, according to Fastmarkets.
• Oil prices are rallying as EU closing in on a Russian oil ban.
• Gold is holding around US$1,855 an oz.
Source: Dow Jones Newswires, AFR
Disclaimer: Moomoo Technologies Inc. is providing this content for information and educational use only.
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