AU Morning Wrap: ASX Falls; Downer, Janus Henderson Shares Tumble

Moomoo News AU wrote a column · Aug 3, 2023 08:30

G'day, mooers! Check out the latest news on today's stock market!
• U.S. downgrade sparks selloff in stocks and bonds
• Tech, energy lead ASX lower
• Stocks to watch: Downer, Janus Henderson, Pro Medicus
- Moomoo News AU

AU Morning Wrap: ASX Falls; Downer, Janus Henderson Shares Tumble

Wall Street Summary

U.S. stocks and bonds suffered a wave of selling after America's credit downgrade, sending Treasury yields to the highest levels of the year and major indexes toward their worst session in months.

The $S&P 500 Index (.SPX.US)$ fell 1.4%, while the tech-heavy $Nasdaq Composite Index (.IXIC.US)$ lost 2.2%, its worst one-day performance since February. The $Dow Jones Industrial Average (.DJI.US)$ shed 348 points, or 1%, dragged down by shares of Intel and Microsoft. The declines followed a global selloff in markets in Europe and Asia.

AU Market Watch

The $S&P/ASX 200 (.XJO.AU)$ dropped 0.6 per cent, or 47.2 points, to 7307.4 at market open, following Wall Street’s overnight sell-off.

The Australian tech sector was the worst hit: $WiseTech Global Ltd (WTC.AU)$ was down 2.3 per cent, $Xero Ltd (XRO.AU)$ shed 1.6 per cent and $Nextdc Ltd (NXT.AU)$ was 1.3 per cent lower.

The energy sector was also in the red, tumbling 1.5 per cent, with $Woodside Energy Group Ltd (WDS.AU)$, $Ampol Ltd (ALD.AU)$ and $Santos Ltd (STO.AU)$ all opening more than 1 per cent lower.

In materials, benchmark heavyweight $BHP Group Ltd (BHP.AU)$ lost 0.6 per cent, while $Fortescue Ltd (FMG.AU)$ declined 1 per cent.

$Downer EDI Ltd (DOW.AU)$ fell 5.4 per cent after flagging a $550 million impairment in its upcoming financial report, due next week.

Meanwhile, shares in $Janus Henderson Group PLC (JHG.AU)$ fell 4.7 per cent following the active manager's latest quarterly results.

Shares in $Pro Medicus Ltd (PME.AU)$ retreated 2.3 per cent after hitting all-time highs yesterday.

Stocks to Watch

$Bellevue Gold Ltd (BGL.AU)$: Bellevue Gold says it has encountered "exceptionally high-grade" gold hits during a drilling program at its namesake project in Western Australia.

Hits include 61 grams per tonne gold across 10 metres and 52 grams per tonne of gold across 18 metres.

$Janus Henderson Group PLC (JHG.AU)$: Investment manager Janus Henderson will pay investors a US39¢ (60¢) quarterly dividend, matching expectations and sitting in line with previous payouts.

The New York and ASX-listed company reported overnight that its assets under management had grown 4 per cent in the June quarter compared to March, hitting $US322.1 billion.

$James Hardie Industries PLC (JHX.AU)$: James Hardie Industries has signed a deal with US mega-builder D.R. Horton.

Under the deal, James Hardie Industries' US home building subsidiary will become D.R. Horton's national supplier of its hard siding and trim materials.

$Link Administration Holdings Ltd (LNK.AU)$: Link Administration says it expects to report full-year group revenue of around $1.23 billion, up 4.5 per cent on the previous year.

The company forecast FY23 group operating EBIT of around $178.1 million, which is up 15.7 per cent on the previous year, and 3.5 per cent above the top-end of its guidance range of $169 million to $172 million.

$Downer EDI Ltd (DOW.AU)$: Downer EDI has flagged a $549.6 million impairment in its financial results next week.

The integrated services' company flagged the write-down after review of its assets. Ahead of the results, the company expects to post a net profit after tax loss of $386 million, which includes a $483 non-cash goodwill impairment.

Underlying net profit is expected to come in at $174 million, inline with the previously revised guidance. The company is due to report its earnings on August 10.

Trading Ex-div: $CVC Ltd (CVC.AU)$, $Nickel Industries Ltd (NIC.AU)$, $Qualitas Real Estate Income Fund (QRI.AU)$

Dividends Paid: $Arena REIT (ARF.AU)$

Listing: None

Source: Dow Jones Newswires, AFR

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