AU Evening Wrap: Win runs ends at six as bond yields rebound
G'day, mooers! Check out the latest news on today's stock market!
• ASX 200 closed lower Wednesday, dropping 22.20 points or 0.32% to 6,975.90 after setting a new 20-day high.
• Top gainers: $Pinnacle Investment Management Group Ltd (PNI.AU)$ $Novonix (NVX.AU)$ $Lynas Rare Earths Ltd (LYC.AU)$
• Top losers: $Centuria Industrial REIT (CIP.AU)$ $The Star Entertainment Group Ltd (SGR.AU)$ $ASX Ltd (ASX.AU)$
- moomoo News AU
The share market fell for the first time in seven sessions after US central bank officials dismissed speculation about a slowdown in rate hikes.
Gains in tech stocks and some of the major miners were outweighed by falls in consumer stocks, utilities and banks.
$Pinnacle Investment Management Group Ltd (PNI.AU)$ jumped 12.21 per cent after increasing its full-year profit and raising its dividend despite "difficult market conditions". The asset manager's net profit after tax improved 14 per cent to $76.4 million. Shareholders will receive a fully-franked final dividend of 17.5 cents per share, an increase of 3 per cent.
Expansion plans helped boost rare earths miner $Lynas Rare Earths Ltd (LYC.AU)$ 7.55 per cent. The firm announced a $500 million project to increase capacity at its Mt Weld mine and concentration plant to meet strong demand.
Lithium miner $Pilbara Minerals Ltd (PLS.AU)$ climbed 2.19 per cent after its latest spodumene concentrate auction attracted 67 bids and a price of US$6,350/dmt. Lake Resources gained 10.56 per cent.
A further delay in the replacement of the aging CHESS computer system used to manage share transactions helped drive the exchange operator $ASX Ltd (ASX.AU)$ down 3.39 per cent. The company said more development was required, pushing the go-live date to late 2024 at the earliest.
$Charter Hall Retail REIT (CQR.AU)$ retreated 1.72 per cent after acquiring 18 service stations in New Zealand for $101.7 million.
S&P/ASX 200 Movers for Wednesday (3/8)
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2. Search for and tap on ".XJO"
3. Roll down to see "Constituent Stocks"
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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 Wednesday (3/8)
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"
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
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