AU Evening Wrap: Australia Shares Rise 1.4%; AGL Gains on Upgraded Profit View
• Top gainers: $Paladin Energy Ltd(PDN.AU$, $AGL Energy Ltd(AGL.AU$, $HMC Capital Ltd(HMC.AU$
• Top losers: $Sims Ltd(SGM.AU$, $Contact Energy Ltd(CEN.AU$, $Bapcor Ltd(BAP.AU$
• Top losers: $Sims Ltd(SGM.AU$, $Contact Energy Ltd(CEN.AU$, $Bapcor Ltd(BAP.AU$
Market Performance
Australia's $S&P/ASX 200(.XJO.AU$ index closed up 1.4% at 7793.3, lifted by the central bank's messaging on interest rates and a brighter outlook from the country's biggest power generator. The RBA, which kept rates unchanged, again said it's not ruling anything in or out as it vies to tame inflation.
$AGL Energy Ltd(AGL.AU$ rose 7.4% to A$10.01 after upgrading its annual profit view, partly due to strong power demand over summer in eastern states. $ANZ Group Holdings Ltd(ANZ.AU$ rose 0.1% to A$28.79, even as some analysts predicted consensus profit downgrades following its 1H result. Banking peer $National Australia Bank Ltd(NAB.AU$ declined 1.5% to A$34.14 after trading ex-dividend. $Sims Ltd(SGM.AU$ fell 6.4% to A$11.06 on a weak trading update that RBC said could lead to the scrap-metal company reporting an annual loss.
![Souce: ASX](https://sgsnsimg.moomoo.com/sns_client_feed/151000101/20240507/b5a6348047dc4632b1fcb2635b32bce2.jpg?area=102&is_public=true)
![AU Evening Wrap: Australia Shares Rise 1.4%; AGL Gains on Upgraded Profit View](https://sgsnsimg.moomoo.com/sns_client_feed/151000101/20240507/f6e89126215e4861b9032fe0d56336b3.jpg?area=102&is_public=true)
![AU Evening Wrap: Australia Shares Rise 1.4%; AGL Gains on Upgraded Profit View](https://sgsnsimg.moomoo.com/sns_client_feed/151000101/20240507/8659e7cd1cf74478bb42109ea071d58f.jpg?area=102&is_public=true)
Top News
Australian Dollar and Bond Yields Slip as RBA Appears Less Hawkish
Following the Reserve Bank of Australia's decision to keep the cash rate at 4.35%, the $AUD/USD(AUDUSD.FX$ slipped to US66.10¢ from US66.25¢. The central bank appeared less hawkish than expected, causing bond yields to fall. The three-year return, which is sensitive to policy changes, retreated 6 basis points to 3.97%, well below the 4.17% level reached last month. Similarly, the 10-year yield shed 3 basis points to 4.34%. Money market futures also slightly reduced their bets on a cash rate hike, with a 43% chance of a move this year compared to 44% prior to the decision.
Source: Dow Jones Newswires, AFR, ASX
Disclaimer: Moomoo Technologies Inc. is providing this content for information and educational use only.
Read more
Comment
Sign in to post a comment