AU Morning Wrap: ASX rises; Core Lithium, West African Resources slump
G'day, mooers! Check out the latest news on today's stock market!
• S&P 500 closes at a two year low
• Australian shares open higher on Monday, ASX 200 up 0.40 per cent
• Stocks to watch: West African Resources, Core Lithium, A2 Milk
- moomoo News AU
Wall Street Summary
The S&P 500 has closed the books on its steepest September decline in two decades, skidding across the finish line of a tumultuous quarter fraught with historically hot inflation, rising interest rates and recession fears.
The S&P 500 has closed the books on its steepest September decline in two decades, skidding across the finish line of a tumultuous quarter fraught with historically hot inflation, rising interest rates and recession fears.
All three major indices veered to a sharply lower end on Friday, having quashed a brief rally early in the session.
The $Dow Jones Industrial Average (.DJI.US)$ fell 500.1 points, or 1.71 per cent, to 28,725.51; the $S&P 500 Index (.SPX.US)$ lost 54.85 points, or 1.51 per cent, to 3,585.62; and the $Nasdaq Composite Index (.IXIC.US)$ dropped 161.89 points, or 1.51 per cent, to 10,575.62.
AU Market Watch
The $S&P/ASX 200 (.XJO.AU)$ added 0.4 per cent, or 28.1 points, to 6502.3 in the opening minutes of trade, buoyed by gains from the materials and energy sectors.
The $S&P/ASX 200 (.XJO.AU)$ added 0.4 per cent, or 28.1 points, to 6502.3 in the opening minutes of trade, buoyed by gains from the materials and energy sectors.
$Santos Ltd (STO.AU)$ rose 2.3 per cent to $7.25, $Mineral Resources Ltd (MIN.AU)$ added 2.2 per cent to $67.19, $Woodside Energy Group Ltd (WDS.AU)$ firmed 2.2 per cent to $32.35 and $BHP Group Ltd (BHP.AU)$ climbed 1.4 per cent to $39.05.
Stocks to Watch
$Liontown Resources Ltd (LTR.AU)$: Liontown Resources has received approval for the mining proposal and mine closure plan from the Western Australia Department of Mines, Industry, Regulation and Safety for its operation at Kathleen Valley.
$Liontown Resources Ltd (LTR.AU)$: Liontown Resources has received approval for the mining proposal and mine closure plan from the Western Australia Department of Mines, Industry, Regulation and Safety for its operation at Kathleen Valley.
$West African Resources Ltd (WAF.AU)$: West African Resources has advised that following a change in the military leadership in Burkina Faso on the weekend, its staff and contractors are safe, and the company's Sanbrado gold operations continue to operate as normal.
$Core Lithium Ltd (CXO.AU)$: has received firm commitments for $100 million via an institutional placement of around 97.1 million shares at $1.03 a share.
The company said the placement was well supported by new and existing institutional investors.
$BUBS AUSTRALIA LTD (BUBAI.AU)$: a has lodged a letter of intent to the US Food and Drug Administration (FDA) for permanent market access in the US to October 2025 and beyond.
$Infomedia Ltd (IFM.AU)$: says it has not received a binding takeover offer from Solera Holdings or a consortium comprising TA Associates and Viburnum Funds, and will close the virtual data room to both parties.
$Yancoal Australia Ltd (YAL.AU)$: Australia intends to prepay $US1 billion of debt from available cash on October 4.
$The a2 Milk Co Ltd (A2M.AU)$: has renewed its import and distribution arrangements with China State Farm Agribusiness Holding Shanghai (CSFA) for a term of five years from October 1.
Ex-dividend: $Vanguard Australian Shares ETF (VAS.AU)$, $London City Equities Ltd (LCE.AU)$, $Imperial Pacific Ltd (IPC.AU)$, $WAM Strategic Value Ltd (WAR.AU)$
Dividends paid: $Atlas Arteria Ltd (ALX.AU)$, $Supply Network Ltd (SNL.AU)$, $IPD Group Ltd (IPG.AU)$
Commodities
• Iron ore futures rose 0.7% to US$96.10 a tonne.
• Oil prices tumbled after reports that OPEC+ is considering a 1m barrels a day reduction in Group output.
Dividends paid: $Atlas Arteria Ltd (ALX.AU)$, $Supply Network Ltd (SNL.AU)$, $IPD Group Ltd (IPG.AU)$
Commodities
• Iron ore futures rose 0.7% to US$96.10 a tonne.
• Oil prices tumbled after reports that OPEC+ is considering a 1m barrels a day reduction in Group output.
"OPEC+ will have an easy job next week, but oil prices won't catch a bid until energy traders are confident an aggressive reduction of output at around 1 million bpd will be delivered. Brent crude is poised to consolidate below the $90 level,” said Oanda senior market analyst, Ed Moya.
• Gold has been consolidating around the US$1,660 level as bond yields refuse to fall.
Source: Dow Jones Newswires, AFR
Disclaimer: Moomoo Technologies Inc. is providing this content for information and educational use only.
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