AU Evening Wrap: Stocks retreat as rates worries revive
G'day, mooers! Check out the latest news on today's stock market!
• ASX 200 closed lower Monday, dropping 67.60 points or 0.95% to 7,046.90 after setting a new 50-day high.
• Top gainers: $NIB Holdings Ltd (NHF.AU)$ $Pilbara Minerals Ltd (PLS.AU)$ $Yancoal Australia Ltd (YAL.AU)$
• Top losers: $Reliance Worldwide Corp Ltd (RWC.AU)$ $Boral Ltd (BLD.AU)$ $Lynas Rare Earths Ltd (LYC.AU)$
- moomoo News AU
The share market suffered its heaviest fall in five weeks.
Reporting season continued with well-received updates from tech firm $EML Payments Ltd (EML.AU)$, health insurer $NIB Holdings Ltd (NHF.AU)$ and cinema operator $EVT Ltd (EVT.AU)$. Disappointments from builder $Adbri Ltd (ABC.AU)$ and plumbing specialist $Reliance Worldwide Corp Ltd (RWC.AU)$ were punished.
Payments platform EML climbed 6.13 per cent after reporting record full-year volumes and launching a share buyback. The firm increased gross debit volumes by 308 per cent last fiscal year to $80.2 billion. Up to $20 million shares will be bought back on-market.
The on-going suppressive effect of the pandemic on medical insurance claims helped NIB increase its full-year underlying operating profit by 14.8 per cent to $235.3 million. Managing Director Mark Fitzgibbon said the final quarter was the best in seven years. The share price rallied 7.02 per cent.
$Nearmap Ltd (NEA.AU)$ firmed 5.34 per cent after the board unanimously recommended a takeover offer from US private-equity firm Thoma Bravo.
A costs warning and a 15 per cent downturn in half-year profit helped drive construction materials manufacturer Adbri down 16.92 per cent. Profits were dented by extreme weather on the east coast and higher costs for raw materials, shipping, transport and fuel.
A 3 per cent dip in full-year profit and a cautious FY23 outlook dragged Reliance Worldwide down 6.21 per cent. The plumbing fittings specialist warned the medium-term outlook was "less certain" due to rate rises, weak consumer confidence, inflation and supply chain disruptions.
S&P/ASX 200 Movers for Monday (22/8)
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"
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 Monday (22/8)
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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