AU Evening Wrap: Shares shrug off rate hike, rise for 2nd day

Moomoo News AU wrote a column · Jul 5, 2022 15:05

G'day, mooers! Check out the latest news on today's stock market!
• ASX 200 closed up Tuesday, gaining 16.70 points or 0.25% to 6,629.30.
• Top gainers: $WiseTech Global Ltd (WTC.AU)$, $Magellan Financial Group Ltd (MFG.AU)$, $Magellan Global Fund (MGF.AU)$
• Top losers: $GQG Partners Inc (GQG.AU)$, $Mirvac Group (MGR.AU)$, $Brickworks Ltd (BKW.AU)$
- moomoo News AU

Australian shares rose for a second day after the Reserve Bank raised its benchmark rate by 50 basis points.

The RBA raised the cash rate target to 1.35 per cent, as most economists predicted. Today's increase was the third in three months, a cycle that last happened in 2010.

Gains in resource and tech stocks helped steer the $S&P/ASX 200 (.XJO.AU)$ up 17 points or 0.25 per cent. Property trusts and industrials were the day's only significant drags.

Energy producers shone for a second day as a looming strike among oil workers in Norway and a production miss by the OPEC+ oil group lifted energy prices. $Woodside Energy Group Ltd (WDS.AU)$ gained 3.77 per cent. $Santos Ltd (STO.AU)$ firmed 0.4 per cent. $Beach Energy Ltd (BPT.AU)$ added 0.57 per cent.

Tech stocks were another pocket of strength as an early rally in bond yields faltered. $Life360 Inc (360.AU)$ jumped 11.34 per cent, $BrainChip Holdings Ltd (BRN.AU)$ 10.59 per cent and $WiseTech Global Ltd (WTC.AU)$ 5.17 per cent.

The biggest heavyweight drags were toll road operator $Transurban Group (TCL.AU)$ -1.04 per cent and industrial property giant $Goodman Group (GMG.AU)$ -0.96 per cent.

S&P/ASX 200 Movers for Tuesday (5/7)

AU Evening Wrap: Shares shrug off rate hike, rise for 2nd day

How to find the above information in moomoo app:

1. Open moomoo app

2. Search for and tap on ".XJO"

3. Roll down to see "Constituent Stocks"

4. You can filter the list based on "%Chg"

10 Top-Traded AU Stocks for Tuesday (5/7)

How to find the above information in moomoo app:

1. Open moomoo app

2. Tap your finger on "Market" and "AU"

3. Roll down and tap on "Main Board"

4. You can filter the list based on "Turnover"

Source: Dow Jones Newswires, The Market Herald

Disclaimer: Moomoo Technologies Inc. is providing this content for information and educational use only. Read more

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