AU Morning Wrap: ASX rises as Wall St extends gains; Crown's McCann to step down
G'day, mooers! Check out the latest news on today's stock market!
• US up third night
• Australian shares opened higher on Thursday, ASX 200 up 0.44 per cent
• Stocks to watch: Crown Resorts, Link, Bendigo and Adelaide Bank
- moomoo News AU
• US up third night
• Australian shares opened higher on Thursday, ASX 200 up 0.44 per cent
• Stocks to watch: Crown Resorts, Link, Bendigo and Adelaide Bank
- moomoo News AU
Wall Street Summary
US stocks swung higher after the minutes from last month's Fed meeting indicated the central bank may raise its benchmark rate by 50 basis points this month. An increase of that size would be smaller than the 75 basis points already priced in by the market.
The $S&P 500 Index(.SPX.US$ jumped to a gain of 14 points or 0.36 per cent. The $Dow Jones Industrial Average(.DJI.US$ put on 70 points or 0.23 per cent. The $Nasdaq Composite Index(.IXIC.US$ added 40 points or 0.35 per cent.
AU Market Watch
Australia's S&P/ASX 200 is poised to rally at the open after U.S. stocks finished higher. ASX futures are up by 0.5%, suggesting the benchmark index could reclaim ground lost in the prior session. Weakness in commodity stocks pulled the ASX 200 to a 0.5% decline on Wednesday, leaving it 0.8% higher so far this week.
Australian shares opened higher this morning. The $S&P/ASX 200(.XJO.AU$ gained 0.44 per cent to 6624 as of 10:12 am.
US stocks swung higher after the minutes from last month's Fed meeting indicated the central bank may raise its benchmark rate by 50 basis points this month. An increase of that size would be smaller than the 75 basis points already priced in by the market.
The $S&P 500 Index(.SPX.US$ jumped to a gain of 14 points or 0.36 per cent. The $Dow Jones Industrial Average(.DJI.US$ put on 70 points or 0.23 per cent. The $Nasdaq Composite Index(.IXIC.US$ added 40 points or 0.35 per cent.
AU Market Watch
Australia's S&P/ASX 200 is poised to rally at the open after U.S. stocks finished higher. ASX futures are up by 0.5%, suggesting the benchmark index could reclaim ground lost in the prior session. Weakness in commodity stocks pulled the ASX 200 to a 0.5% decline on Wednesday, leaving it 0.8% higher so far this week.
Australian shares opened higher this morning. The $S&P/ASX 200(.XJO.AU$ gained 0.44 per cent to 6624 as of 10:12 am.
Stocks to Watch
$Crown Resorts Ltd(CWN.AU$: Crown Resorts chief executive Steve McCann will step down in September, flagging his exit just weeks after sewing up the $8.9 billion sale of the casino giant to Blackstone, to be replaced by industry veteran Ciarán Carruthers.
$Link Administration Holdings Ltd(LNK.AU$: Dye & Durham has made a second revised proposal to the board of Link Administration Holdings with respect to its offer to acquire Link Group. Dye & Durham's latest proposal of up to $4.70 per share is comprised of $4.57 per share in base consideration, up from $4.30 previously, under the proposed acquisition's scheme implementation deed (SID).
$Bendigo and Adelaide Bank Ltd(BEN.AU$: Bendigo and Adelaide Bank has agreed to acquire the $ANZ Group Holdings Ltd(ANZ.AU$ investment lending portfolio. The acquisition will allow Bendigo to further grow its margin lending business, Leveraged Equities, it said.The value of the portfolio Bendigo Bank is acquiring is approximately $715 million, with around 11,900 customer facilities as of May 31.
Dividends paid: $360 Capital Mortgage REIT(TCF.AU$
Commodities
• Iron ore futures continue to tank on recession.
• Oil is trading below US$100 for the first time since late April. US crude stockpiles unexpectedly rose last week, up 3.82m barrels compared to expectations of a 1.1m decline.
• Gold has slumped to a 9-month low as it doesn't stand a chance against the surging US dollar.
Source: Dow Jones Newswires, AFR
Disclaimer: Moomoo Technologies Inc. is providing this content for information and educational use only.
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