AU Morning Wrap: ASX Flat; Star Entertainment Tumbles Over 7%
G'day, mooers! Check out the latest news on today's stock market!
• S&P 500 edges higher, Netflix misses subscriber expectation
• ASX up 0.12%
• Stocks to watch: Telix Pharmaceuticals, The Star Entertainment, BHP
- Moomoo News AU
Wall Street Summary
The Dow industrials rode out Tuesday's batch of corporate earnings to finish near-flat despite pressure from shares of Goldman Sachs Group and Johnson & Johnson.
The blue-chip $Dow Jones Industrial Average (.DJI.US)$ fell 10.6 points, or less than 0.1%, to 33976.63. The $S&P 500 Index (.SPX.US)$ advanced 3.6 points, or 0.1%, to 4154.87. The $Nasdaq Composite Index (.IXIC.US)$ slipped 4.3 points, or less than 0.1%, to 12153.41, posting an eighth loss in 11 trading days.
AU Market Watch
The Star Entertainment Group was the worst performing stock, it tumbled over 7 per cent to $1.24.
$Telix Pharmaceuticals Ltd (TLX.AU)$ was the best performing stock, it rose 6 per cent. $Capricorn Metals Ltd (CMM.AU)$ shares were up 3.3 per cent.
Stocks to Watch
$Perseus Mining Ltd (PRU.AU)$: Gold miner Perseus Mining says production during the March quarter was slightly lower than in its December quarter.
The company says it produced 130,275 ounces of gold in the March quarter, down 0.5 per cent when compared to the previous quarter.
It says the gold was produced at AISC of $US971 ($1443.11) an ounce and was 1.2 per cent lower.
Average sale price of gold sold was 135,111 ounces at $US1821 an ounce, up 4 per cent compared to the prior quarter.
Perseus has forecast that it will reach its gold production and cost guidance for the 2023 June half-year and financial year.
$AMP Ltd (AMP.AU)$: AMP Australian Wealth Management recorded net outflows of $600 million in its March quarter, down from the $900 million in the prior corresponding period.
It said assets under management in the company's Australian Wealth Management increased by $2 billion to $126.2 billion.
The company said in an announcement that the result reflected "positive investment markets, partly offset by net cash outflows and pension payments."
AMP Bank's total loan book grew by $200 million to $24.2 billion in the March quarter.
$Qantas Airways Ltd (QAN.AU)$: The competition regulator has granted re-authorisation for co-ordination between Qantas and Jetstar's Asia brands.
The re-authorisation from the ACCC is for five years until May 2028. And in certain circumstances, will allow co-operation between Jetstar Japan and Japan Airlines.
$The Star Entertainment Group Ltd (SGR.AU)$: The Star Entertainment Group has hired Barrenjoey for a strategic review of its Sydney casino and "any structural alternatives" to unlock value for shareholders. The group said 500 jobs would go, salaries were frozen and bonuses cancelled.
Source: Dow Jones Newswires, AFR
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