AU Morning Wrap: ASX rises; Brambles, Regis Resources jump
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• S&P 500 suffers worst first half in 50 years
• Australian shares opened higher on Friday, ASX 200 up 0.71 per cent
• Stocks to watch: Austal, Regis Resources, Openpay
- moomoo News AU
Wall Street Summary
US stocks continued to lose ground as economic data did little to allay fears the economy was heading for recession as consumer prices remain near 40-year highs.
The $S&P 500 Index (.SPX.US)$ fell 33 points or 0.88 per cent. The $Dow Jones Industrial Average (.DJI.US)$ shed 254 points or 0.82 per cent. The $Nasdaq Composite Index (.IXIC.US)$ lost 149 points or 1.33 per cent.
AU Market Watch
Australia's S&P/ASX 200 looks like it may edge higher at the start of the new fiscal quarter despite a weak lead from U.S. equities. ASX futures are up by 0.2%, suggesting the benchmark index could pare some of the prior session's 2.0% loss. The ASX 200 lost 8.9% in June, rounding out its biggest monthly and quarterly losses since March 2020.
Australian shares opened higher this morning. The $S&P/ASX 200 (.XJO.AU)$ gained 0.71 per cent to 6615 as of 10:21 am.
US stocks continued to lose ground as economic data did little to allay fears the economy was heading for recession as consumer prices remain near 40-year highs.
The $S&P 500 Index (.SPX.US)$ fell 33 points or 0.88 per cent. The $Dow Jones Industrial Average (.DJI.US)$ shed 254 points or 0.82 per cent. The $Nasdaq Composite Index (.IXIC.US)$ lost 149 points or 1.33 per cent.
AU Market Watch
Australia's S&P/ASX 200 looks like it may edge higher at the start of the new fiscal quarter despite a weak lead from U.S. equities. ASX futures are up by 0.2%, suggesting the benchmark index could pare some of the prior session's 2.0% loss. The ASX 200 lost 8.9% in June, rounding out its biggest monthly and quarterly losses since March 2020.
Australian shares opened higher this morning. The $S&P/ASX 200 (.XJO.AU)$ gained 0.71 per cent to 6615 as of 10:21 am.
Stocks to Watch
$Austal Ltd (ASB.AU)$: Austal USA has been awarded a contract with a potential value of $US3.3 billion ($4.35 billion), for the detail design and construction of up to 11 offshore patrol cutters (OPC) for the United States Coast Guard.
$Regis Resources Ltd (RRL.AU)$: Andrew Forrest's Wyloo has walked away from plans to significantly increase its stake in gold miner Regis Resources. Wyloo's broker, Barrenjoey, told clients on Friday morning that the Thursday-night raid had fallen short of its 15 per cent target and would not proceed.
$Openpay Group Ltd (OPY.AU)$: Openpay has decided to pause its existing US operations indefinitely and cease loan originations on the Opy USA platform, meaning its US workforce will be materially reduced.
Dividends paid: $Aristocrat Leisure Ltd (ALL.AU)$, $ANZ Group Holdings Ltd (ANZ.AU)$ , $CSR Ltd (CSR.AU)$, $Pendal Group Ltd (PDL.AU)$, $Virtus Health Ltd (VRT.AU)$
Commodities
• Iron ore prices edged lower amid depressed market sentiment, with a short-term oversupply of high-grade fines likely, sources told Fastmarkets.
• Oil prices rolled over as the outlook for gasoline usage disappointed. The once easy trade has disappeared as investors focus on demand weakness rather than supply tightness.
• Gold continues to struggle in the face of a strong US dollar and continued Fed tightening calls.
Source: Dow Jones Newswires, AFR
$Austal Ltd (ASB.AU)$: Austal USA has been awarded a contract with a potential value of $US3.3 billion ($4.35 billion), for the detail design and construction of up to 11 offshore patrol cutters (OPC) for the United States Coast Guard.
$Regis Resources Ltd (RRL.AU)$: Andrew Forrest's Wyloo has walked away from plans to significantly increase its stake in gold miner Regis Resources. Wyloo's broker, Barrenjoey, told clients on Friday morning that the Thursday-night raid had fallen short of its 15 per cent target and would not proceed.
$Openpay Group Ltd (OPY.AU)$: Openpay has decided to pause its existing US operations indefinitely and cease loan originations on the Opy USA platform, meaning its US workforce will be materially reduced.
Dividends paid: $Aristocrat Leisure Ltd (ALL.AU)$, $ANZ Group Holdings Ltd (ANZ.AU)$ , $CSR Ltd (CSR.AU)$, $Pendal Group Ltd (PDL.AU)$, $Virtus Health Ltd (VRT.AU)$
Commodities
• Iron ore prices edged lower amid depressed market sentiment, with a short-term oversupply of high-grade fines likely, sources told Fastmarkets.
• Oil prices rolled over as the outlook for gasoline usage disappointed. The once easy trade has disappeared as investors focus on demand weakness rather than supply tightness.
• Gold continues to struggle in the face of a strong US dollar and continued Fed tightening calls.
Source: Dow Jones Newswires, AFR
Disclaimer: Moomoo Technologies Inc. is providing this content for information and educational use only.
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