AU Morning Wrap: ASX jumps 0.6%; Imugene announces $80m placement

Wall Street Summary
US stocks rose for a fourth night amid expectations tonight's inflation data will continue the recent downward trend, bolstering the case for smaller rate increases in the months ahead. Energy and tech stocks led as the major indices touched two-week highs.

The $S&P/ASX 200 (.XJO.AU)$ rallied 43 points or 1.06 per cent. The $Dow Jones Industrial Average (.DJI.US)$ gained 230 points or 0.71 per cent. The $Nasdaq Composite Index (.IXIC.US)$ added 154 points or 1.27 per cent.

The August consumer price index (CPI), due for release tonight, is seen as this week's key economic report. The Federal Reserve has made it clear it needs to see inflation fall back towards its target range before the central bank will consider lowering interest rates.

AU Market Watch
Australia's S&P/ASX 200 looks set to rise at the open, after U.S. stocks made gains in anticipation of inflation data that may show more consumer price cooling. ASX futures are up 0.6%, suggesting the benchmark will continue its own positive momentum from yesterday's higher close.

Australian shares opened higher this morning. The $S&P/ASX 200 (.XJO.AU)$ gained 0.62 per cent to 7007.8 as of 10:13 am.

Stocks to Watch
$Atlas Arteria Ltd (ALX.AU)$: Atlas Arteria has entered into an agreement to acquire a 66.67 per cent majority interest in the Chicago Skyway.

The acquisition of the majority interest represents an equity value of $US2.01 billion and is subject to receipt of regulatory approvals including consent of the City of Chicago.

$Imugene Ltd (IMU.AU)$: Imugene has announced it will undertake an $80 million institutional placement at 20¢ a share.

The issue price represents a discount of 11.1 per cent to the last close on 9 September of 22.5¢.

$Ramsay Health Care Ltd (RHC.AU)$: Shares in Ramsay Health Care will be temporarily paused pending a further announcement.

Street Talk reported that the consortium led by KKR & Co, have called off their drawn-out takeover talks with Ramsay after failing to reach a deal.

$Link Administration Holdings Ltd (LNK.AU)$: Britain's financial regulator will give Canada's Dye & Durham the green light for its $2.5 billion mega-buyout of ASX-listed Link Group, but only if the takeover target sets aside a chunky £306 million ($518 million) to cover potential fines.

Ex-dividend: $FOS Capital Ltd (FOS.AU)$, $Grange Resources Ltd (GRR.AU)$, $IVE Group Ltd (IGL.AU)$, $Inghams Group Ltd (ING.AU)$, $News Corp (NWS.AU)$, $Objective Corp Ltd (OCL.AU)$, $PSC Insurance Group Ltd (PSI.AU)$, $TPG Telecom Ltd (TPG.AU)$

Dividends paid: $Domain Holdings Australia Ltd (DHG.AU)$, $Eumundi Group Ltd (EBG.AU)$, $GUD Holdings Ltd (GUD.AU)$, $Pengana Capital Group Ltd (PCG.AU)$, $SRG Global Ltd (SRG.AU)$

Commodities
• Iron ore futures rose 0.1% to US$102.25 a tonne.

• Oil prices rallied for a third straight session as it recovers from demand destruction-related selloff.

• Gold continues to slowly recover as the US dollar falls for a fourth consecutive session.

Source: Dow Jones Newswires, AFR