AU Evening Wrap: Stocks rally as RBA hikes rates as expected
G'day, mooers! Check out the latest news on today's stock market!
• ASX 200 closed up sharply Tuesday, gaining 113.40 points or 1.65% to 6,976.90 and setting a new 20-day high.
• Top gainers: $Imugene Ltd (IMU.AU)$ $Nickel Industries Ltd (NIC.AU)$ $Megaport Ltd (MP1.AU)$
• Top losers: $Chorus Ltd (CNU.AU)$ $Yancoal Australia Ltd (YAL.AU)$ $Dicker Data Ltd (DDR.AU)$
- moomoo News AU
The share market hit its highest in seven weeks after the Reserve Bank lifted benchmark interest rates by a quarter of a percentage point and raised its inflation forecast.
The market added to early gains after the bank resisted calls to increase rates by half a percentage point in response to a blowout in inflation last quarter. Today's increase was the seventh this year.
The $S&P/ASX 200 (.XJO.AU)$ rallied 113 points or 1.65 per cent to 6977. All 11 sectors advanced, led by miners, utilities and property stocks.
Resource stocks rebounded as oil and iron ore reversed early losses. $Fortescue Ltd (FMG.AU)$ rose 5.44 per cent, $BHP Group Ltd (BHP.AU)$ 2.84 per cent and $Rio Tinto Ltd (RIO.AU)$ 2.6 per cent. $Woodside Energy Group Ltd (WDS.AU)$ gained 2.31 per cent. Santos put on 1.95 per cent.
$EML Payments Ltd (EML.AU)$ reversed most of yesterday's 30.86 per cent plunge, which followed news of a freeze on new business in the UK due to regulatory concerns. Shares in the fintech bounced 30.86 per cent.
Losers were scarce by the end of a strong session. Just five of the index's component companies fell more than 1 per cent.
$EML Payments Ltd (EML.AU)$ reversed most of yesterday's 30.86 per cent plunge, which followed news of a freeze on new business in the UK due to regulatory concerns. Shares in the fintech bounced 30.86 per cent.
Losers were scarce by the end of a strong session. Just five of the index's component companies fell more than 1 per cent.
$Brickworks Ltd (BKW.AU)$ dropped 2.26 per cent as its shares traded without the right to the latest dividend. $Chorus Ltd (CNU.AU)$ shed 3.55 per cent, $ARB Corp Ltd (ARB.AU)$ 1.24 per cent, $The a2 Milk Co Ltd (A2M.AU)$ 1.14 per cent and $Brambles Ltd (BXB.AU)$ 1.03 per cent.
Other notable falls included $ASX Ltd (ASX.AU)$ -0.86 per cent and $Domino's Pizza Enterprises Ltd (DMP.AU)$ -0.56 per cent.
S&P/ASX 200 Movers for Tuesday (1/11)
How to find the above information in moomoo app:
1. Open moomoo app
2. Search for and tap on ".XJO"
3. Roll down to see "Constituent Stocks"
4. You can filter the list based on "%Chg"
2. Search for and tap on ".XJO"
3. Roll down to see "Constituent Stocks"
4. You can filter the list based on "%Chg"
10 Top-Traded AU Stocks for Tuesday (1/11)
How to find the above information in moomoo app:
1. Open moomoo app
2. Tap your finger on "Market" and "AU"
3. Roll down and tap on "Main Board"
4. You can filter the list based on "Turnover"
1. Open moomoo app
2. Tap your finger on "Market" and "AU"
3. Roll down and tap on "Main Board"
4. You can filter the list based on "Turnover"
Source: Dow Jones Newswires, The Market Herald
Disclaimer: Moomoo Technologies Inc. is providing this content for information and educational use only.
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