AU Morning Wrap: ASX Drops 0.7%; Soul Pattinson Lifts Dividend 24.1%
G'day, mooers! Check out the latest news on today's stock market!
• S&P 500 tumbles as Powell rules out rate cuts for 2023
• ASX falls 0.8%; Polynovo falls 8.5%
• Stocks to watch: United Malt, Sigma Healthcare, Soul Pattinson
- Moomoo News AU
Wall Street Summary
A continued hawkish stance by the Federal Reserve led to late selling on Wall Street, with the major U.S. equity averages finishing Wednesday solidly in the red. The S&P 500 slumped nearly 1.7%, while the Dow dropped more than 500 points.
The $Nasdaq Composite Index (.IXIC.US)$ closed -1.6%, $S&P 500 Index (.SPX.US)$ finished -1.7% and $Dow Jones Industrial Average (.DJI.US)$ ended -1.6%.
Looking at the closing numbers, the Dow Jones slumped 530.49 points to close at 32,030.11. The S&P 500 fell 65.90 points to end at 3,936.97, while the Nasdaq retreated 190.15 points to finish at 11,669.96.
All 11 S&P sectors finished lower. Real Estate provided the vanguard of the decline, sliding by 3.6%. Financials, Energy and Consumer Discretionary all fell more than 2% as well.
AU Market Watch
$S&P/ASX 200 (.XJO.AU)$ fell 0.74 per cent at the open.
Energy was the best performing sector, it rose 4.3 per cent. The materials sector was also in the green, up 1 per cent.
$United Malt Group Ltd (UMG.AU)$ shares increased the most, up 4.9 per cent to $3.42.
REIT was the worst performing sector, it fell 4 per cent.
The stock that dropped the most was $Polynovo Ltd (PNV.AU)$, its shares fell 8.5 per cent to $1.895.
Stocks to Watch
$Brickworks Ltd (BKW.AU)$: Brickworks has lifted its dividend 5 per cent to 23 cents per share for the six-month period to January 31. The move extends Brickworks record of 47 straight years of dividend increases.
For the half year it boasted a record adjusted net profit of $410 million on sales up 13 per cent to $584 million. Adjusted earnings per share jumped 24 per cent to $2.69. As at the period end its gross asset base topped $6 billion.
$Washington H Soul Pattinson & Co Ltd (SOL.AU)$: Investment company Soul Pattinson lifted its dividend by 24.1 per cent to 36 cents per share fully franked in its half-year financial results.
The company recorded its revenue decreased 74 per cent to $290.5 million when compared to the prior corresponding period.
Its profit after tax attributable to members was up 167 per cent to $453 million.
$National Storage REIT (NSR.AU)$: National Storage REIT has confirmed that it raised $300 million through an institutional placement.
The Australian Financial Review Street Talk column revealed on Tuesday the company was preparing a $325 million equity deal: $300 million via a placement and up to another $25 million in a share purchase plan.
The placement was at $2.33 to $2.41 a security, representing a 4 per cent discount to the last closing price of $2.51 on Tuesday 21 March.
$Sigma Healthcare Ltd (SIG.AU)$: Sigma Healthcare reported its revenue rose 6.2 per cent to $3.7 billion in its full-year financial results.
The company recorded its net profit at $1.8 million, up from last period's reported loss of $7.2 million.
Sigma declared an interim dividend fully franked of $0.005 per share.
Source: Dow Jones Newswires, AFR
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