AU Morning Wrap: ASX rises, buoyed by miners; Fortescue trades ex-dividend

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.

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.