AU Morning Wrap: ASX opens flat; Origin, AGL shares struggle
G'day, mooers! Check out the latest news on today's stock market!
• S&P 500 slumps further, IMF warns 'worst is yet to come'
• Australian shares open lower on Wednesday, ASX 200 down 0.09 per cent
• Stocks to watch: Bank of Queensland, Coronado Global Resources, CSL
- moomoo News AU
Wall Street Summary
The S&P 500 and Nasdaq have ended lower, with indications from the Bank of England that it would support the country's bond market for just three more days adding to market jitters late in the session.
The S&P 500 and Nasdaq have ended lower, with indications from the Bank of England that it would support the country's bond market for just three more days adding to market jitters late in the session.
The producer price index report is due Wednesday and consumer price index data is due Thursday.
The $Dow Jones Industrial Average (.DJI.US)$ rose 36.44 points, or 0.12 per cent, to 29,239.32, the $S&P 500 Index (.SPX.US)$ lost 23.65 points, or 0.65 per cent, to 3,588.74 and the $Nasdaq Composite Index (.IXIC.US)$ dropped 115.91 points, or 1.1 per cent, to 10,426.19.
AU Market Watch
Australian shares opened a touch lower on Wednesday, following a lackluster session on Wall Street. The $S&P/ASX 200 (.XJO.AU)$ lost 0.09 per cent to 6638.8 as of 10:32 am.
AU Market Watch
Australian shares opened a touch lower on Wednesday, following a lackluster session on Wall Street. The $S&P/ASX 200 (.XJO.AU)$ lost 0.09 per cent to 6638.8 as of 10:32 am.
Stocks to Watch
$Charter Hall Group (CHC.AU)$: Charter Hall Social Infrastructure REIT confirmed its distribution guidance of 17.2 cents per unit for the 2023 financial year.
$Charter Hall Group (CHC.AU)$: Charter Hall Social Infrastructure REIT confirmed its distribution guidance of 17.2 cents per unit for the 2023 financial year.
The real estate trust has also acquired a 25 per cent interest in the Geoscience Australia property.
$Coronado Global Resources Inc (CRN.AU)$: Coronado Global Resources confirmed a media report that it is in talks with the NYSE-listed Peabody Energy.
$Bank of Queensland Ltd (BOQ.AU)$: Bank of Queensland reported a 5 per cent decline in cash profit for the full year to $508 million reflecting margin pressures.
On a statutory basis, profit for the 12-month period climbed 15 per cent to $426 million and revenue grew 34 per cent to $1.7 billion.
$CSL Ltd (CSL.AU)$: CSL retained its profit guidance for financial 2023, confirming a forecast for revenue growth of 7 per cent to 11 per cent on top of last year's top line.
Net profit after tax will be between $US2.4 billion and $2.5 billion, for growth of 10 per cent to 14 per cent on a "like-for-like" basis.
$African Gold Ltd (A1G.AU)$: African Gold has executed an earn-in agreement with $Resolute Mining Ltd (RSG.AU)$ over the Syama Shear zone project in southwestern Mali.
Ex-dividend: $WAM Global Ltd (WGB.AU)$, $Horizon Oil Ltd (HZN.AU)$, $Regis Resources Ltd (RRL.AU)$, $Gowing Bros Ltd (GOW.AU)$
Dividends paid: $NRW Holdings Ltd (NWH.AU)$, $Count Ltd (CUP.AU)$, $News Corp (NWS.AU)$, $Briscoe Group Ltd (BGP.AU)$, $BlueScope Steel Ltd (BSL.AU)$, $Perseus Mining Ltd (PRU.AU)$, $PSC Insurance Group Ltd (PSI.AU)$, $TPG Telecom Ltd (TPG.AU)$, $MAAS Group Holdings Ltd (MGH.AU)$
Commodities
• Iron ore futures fell 0.3% to US$96.2 a tonne.
Ex-dividend: $WAM Global Ltd (WGB.AU)$, $Horizon Oil Ltd (HZN.AU)$, $Regis Resources Ltd (RRL.AU)$, $Gowing Bros Ltd (GOW.AU)$
Dividends paid: $NRW Holdings Ltd (NWH.AU)$, $Count Ltd (CUP.AU)$, $News Corp (NWS.AU)$, $Briscoe Group Ltd (BGP.AU)$, $BlueScope Steel Ltd (BSL.AU)$, $Perseus Mining Ltd (PRU.AU)$, $PSC Insurance Group Ltd (PSI.AU)$, $TPG Telecom Ltd (TPG.AU)$, $MAAS Group Holdings Ltd (MGH.AU)$
Commodities
• Iron ore futures fell 0.3% to US$96.2 a tonne.
"China's usual boom period for infrastructure construction and steel-related demand in September and October has so far offered no reprieve for investors in the iron ore market," Bloomberg reported.
• Gold prices briefly rallied 1% to US$1,684 before closing the session slightly lower.
• Gold prices briefly rallied 1% to US$1,684 before closing the session slightly lower.
"Gold prices remain vulnerable to further selling pressure as no one wants to abandon the strong dollar trade given the current macro backdrop," said Oanda senior market analyst, Ed Moya.
"Bullion will struggle here as the dollar will easily be supported given the war in Ukraine is intensifying and the financial plumbing abroad is a big risk."
• Oil is on a two-day losing streak, down around 4.8%.
• Oil is on a two-day losing streak, down around 4.8%.
"Oil prices are lower as the crude demand outlook got bombarded with bearish drivers; the IMF's outlook is fearful of a global recession next year, European (Czech and Hungary) inflation remains hot and raises the risk central banks will trigger severe recessions," said Moya.
Source: Dow Jones Newswires, AFR
Source: Dow Jones Newswires, AFR
Disclaimer: Moomoo Technologies Inc. is providing this content for information and educational use only.
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