AU Morning Wrap: ASX rises, buoyed by miners; Fortescue trades ex-dividend
G'day, mooers! Check out the latest news on today's stock market!
• Wall St gives back gains
• Australian shares open higher on Monday, ASX 200 up 0.43 per cent
• Stocks to watch: Humm, TechGen Metals, Regal Partners
- moomoo News AU
Wall Street Summary
Early gains evaporated as fears of an energy-driven recession in Europe overshadowed solid US jobs data. The main indices reversed after Russian gas giant Gazprom said it would miss a weekend deadline to resume supply to Europe.
The $Dow Jones Industrial Average (.DJI.US)$ swung from a 370-point gain to a loss of 338 points or 1.07 per cent. The $S&P 500 Index (.SPX.US)$ shed 43 points or 1.07 per cent. Friday's close was the index's weakest since July.
The $Nasdaq Composite Index (.IXIC.US)$ dropped 154 points or 1.31 per cent to a sixth straight loss, the benchmark's worst run since 2019.
AU Market Watch
Australia's S&P/ASX 200 is poised to slip at the open following another decline by U.S. stocks. ASX futures are down by 0.2%, suggesting the benchmark index will add to losses accrued over three straight sessions. That run meant the ASX 200 fell 3.9% last week for its largest weekly loss since mid-June. Investors anticipate another interest-rate rise when the board of Australia's central bank meets on Tuesday.
Australian shares opened higher this morning. The $S&P/ASX 200 (.XJO.AU)$ gained 0.43 per cent to 6858 as of 10:16 am.
Early gains evaporated as fears of an energy-driven recession in Europe overshadowed solid US jobs data. The main indices reversed after Russian gas giant Gazprom said it would miss a weekend deadline to resume supply to Europe.
The $Dow Jones Industrial Average (.DJI.US)$ swung from a 370-point gain to a loss of 338 points or 1.07 per cent. The $S&P 500 Index (.SPX.US)$ shed 43 points or 1.07 per cent. Friday's close was the index's weakest since July.
The $Nasdaq Composite Index (.IXIC.US)$ dropped 154 points or 1.31 per cent to a sixth straight loss, the benchmark's worst run since 2019.
AU Market Watch
Australia's S&P/ASX 200 is poised to slip at the open following another decline by U.S. stocks. ASX futures are down by 0.2%, suggesting the benchmark index will add to losses accrued over three straight sessions. That run meant the ASX 200 fell 3.9% last week for its largest weekly loss since mid-June. Investors anticipate another interest-rate rise when the board of Australia's central bank meets on Tuesday.
Australian shares opened higher this morning. The $S&P/ASX 200 (.XJO.AU)$ gained 0.43 per cent to 6858 as of 10:16 am.
Stocks to Watch
$Humm Group Ltd (HUM.AU)$: Buy now pay later platform Humm and $Air New Zealand Ltd (AIZ.AU)$ have ended partnership discussions. Humm entered into an agreement with Airpoints, Air New Zealand's loyalty program, on November 18, 2021.
$TechGen Metals Ltd (TG1.AU)$: TechGen Metals has entered into a binding farm-in-term sheet with Rio Tinto for its Harbutt Range project in the south Paterson Province of Western Australia.
$Regal Partners Ltd (RPL.AU)$: Regal Partners has requested a trading halt pending an announcement in connection with an equity raise as reported by Street Talk. The raising includes a non-underwritten 1 for 5 pro rate accelerated non-renounceable entitlement offer of up to 42.3 million Regal shares.
$Hastings Technology Metals Ltd (HAS.AU)$: Hastings Technology Metals has requested a trading halt pending an announcement regarding a capital raising. The company requested the trading halt to last until either it makes an announcement to the market or September 7, whichever is the earlier.
Ex-dividend: $Adairs Ltd (ADH.AU)$, $Australian Finance Group Ltd (AFG.AU)$, $Altium Ltd (ALU.AU)$, $Bendigo and Adelaide Bank Ltd (BEN.AU)$, $Corporate Travel Management Ltd (CTD.AU)$, $Fortescue Ltd (FMG.AU)$, $Gold Road Resources Ltd (GOR.AU)$, $Iluka Resources Ltd (ILU.AU)$, $Kina Securities Ltd (KSL.AU)$, $Mader Group Ltd (MAD.AU)$, $McPherson's Ltd (MCP.AU)$, $Ramsay Health Care Ltd (RHC.AU)$, $Yancoal Australia Ltd (YAL.AU)$
Dividends paid: $ReadyTech Holdings Ltd (RDY.AU)$
Commodities
• Iron ore futures fell -1.1% to US$95.4 a tonne and down -9.5% in the past week.
$Humm Group Ltd (HUM.AU)$: Buy now pay later platform Humm and $Air New Zealand Ltd (AIZ.AU)$ have ended partnership discussions. Humm entered into an agreement with Airpoints, Air New Zealand's loyalty program, on November 18, 2021.
$TechGen Metals Ltd (TG1.AU)$: TechGen Metals has entered into a binding farm-in-term sheet with Rio Tinto for its Harbutt Range project in the south Paterson Province of Western Australia.
$Regal Partners Ltd (RPL.AU)$: Regal Partners has requested a trading halt pending an announcement in connection with an equity raise as reported by Street Talk. The raising includes a non-underwritten 1 for 5 pro rate accelerated non-renounceable entitlement offer of up to 42.3 million Regal shares.
$Hastings Technology Metals Ltd (HAS.AU)$: Hastings Technology Metals has requested a trading halt pending an announcement regarding a capital raising. The company requested the trading halt to last until either it makes an announcement to the market or September 7, whichever is the earlier.
Ex-dividend: $Adairs Ltd (ADH.AU)$, $Australian Finance Group Ltd (AFG.AU)$, $Altium Ltd (ALU.AU)$, $Bendigo and Adelaide Bank Ltd (BEN.AU)$, $Corporate Travel Management Ltd (CTD.AU)$, $Fortescue Ltd (FMG.AU)$, $Gold Road Resources Ltd (GOR.AU)$, $Iluka Resources Ltd (ILU.AU)$, $Kina Securities Ltd (KSL.AU)$, $Mader Group Ltd (MAD.AU)$, $McPherson's Ltd (MCP.AU)$, $Ramsay Health Care Ltd (RHC.AU)$, $Yancoal Australia Ltd (YAL.AU)$
Dividends paid: $ReadyTech Holdings Ltd (RDY.AU)$
Commodities
• Iron ore futures fell -1.1% to US$95.4 a tonne and down -9.5% in the past week.
"Steel spot prices stopped falling and stabilising in August, downstream demand recovered slightly," according to the Shanghai Metals Market.
"However, in late August, steel mills intentionally controlled the output … On the demand side, the orders may increase amid the expectation of the traditional peak season."
• Oil prices snapped a three-day losing streak but down -7.3% in the past week.
• Oil prices snapped a three-day losing streak but down -7.3% in the past week.
Brent crude closed the session 1.25% higher at US$93.3 a barrel, down from session highs of 3.4%.
"The rebound comes as nuclear talks between Iran and the US appear to have stalled, with the former claiming they had sent a "constructive" response to proposals and the latter quickly deeming them "not constructive", said Oanda senior market analyst, Craig Erlam.
• Gold managed to hold the US$1,700 level.
Source: Dow Jones Newswires, AFR
• Gold managed to hold the US$1,700 level.
Source: Dow Jones Newswires, AFR
Disclaimer: Moomoo Technologies Inc. is providing this content for information and educational use only.
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