AU Morning Wrap: ASX falls at open; Link agrees Dye & Durham bid

Wall Street Summary
High-growth tech stocks fuelled another up-leg in this week's recovery following a positive earnings surprise from Netflix. A recovery in US treasury yields weighed on healthcare providers and other corners of the market that compete with bonds.

The growth-stock-heavy $Nasdaq Composite Index (.IXIC.US)$ led with a rise of 185 points or 1.58 per cent. The $S&P 500 Index (.SPX.US)$ put on 23 points or 0.59 per cent.

The $Dow Jones Industrial Average (.DJI.US)$ dipped in and out of positive territory before scraping a gain of 48 points or 0.15 per cent. All three indices closed at their highest since early June.

AU Market Watch
Australian stock futures are pointing to an opening pullback by the S&P/ASX 200 following the benchmark index's best day in more than three weeks. ASX futures are down by 0.5%, suggesting some selling after tech and materials stocks led the ASX 200 to a 1.65% gain on Wednesday.

Australian shares opened lower this morning. The $S&P/ASX 200 (.XJO.AU)$ lost 0.12 per cent to 6751 as of 10:18 am.

Stocks to Watch
$Link Administration Holdings Ltd (LNK.AU)$: Link Administration says it has agreed a revised $4.81 per share offer from suitor Dye & Durham.

$Woodside Energy Group Ltd (WDS.AU)$: The newly merged Woodside Energy has lifted second quarter production by 60 per cent on the previous quarter to 33.8 million barrels of oil equivalent. It realised an average sale price of $US95 per barrel of oil equivalent on revenue up 44 per cent to $3.4 billion over the June quarter.

$ANZ Group Holdings Ltd (ANZ.AU)$: ANZ Bank has raised $1.7 billion from institutional investors by issuing about 89 million new shares as part of a $3.5 billion raising to help acquire Suncorp Bank.Shares in ANZ will resume trade on Thursday .

$Newcrest Mining Ltd (NCM.AU)$: Newcrest Mining says it delivered June quarter gold production of 637,000 ounces and copper production of 39,000 tonnes, resulting in FY22 gold production of 1.9 million ounces and copper production of 121,000 tonnes.

$Zip Co Ltd (ZIP.AU)$: Zip has reported quarterly revenue up 27 per cent to $160.1 million for the June quarter on total transaction volume up 20 per cent to $2.2 billion. It said it had cash on hand of $278.6 million as at June 30.

$Telix Pharmaceuticals Ltd (TLX.AU)$: Telix Pharmaceuticals has recorded $22.5 million in global sales for its Illucix cancer imaging and diagnosis product.

Dividends paid: $Charter Hall Social Infrastructure REIT (CQE.AU)$, $Graincorp Ltd (GNC.AU)$

Commodities
• Iron ore futures rose 0.9% to US$104.1.
• Oil prices retreated after the EIA crude oil inventory report posted a surprise draw as exports came in above expectations. The report flagged weaker-than-expected gasoline demand, which pushed oil prices slightly lower.
• Gold closed below US$1,700 amid a risk-on session on Wall Street and the US dollar index snapping a three-day losing streak.

Source: Dow Jones Newswires, AFR