AU Morning Wrap: ASX Falls, Miners, Energy Tumble
G'day, mooers! Check out the latest news on today's stock market!
• US stocks fall in strong week for U.S. Treasury yields
• ASX drops sharply
• Stocks to watch: Judo Bank, Treasury Wine Estates, South 32
- Moomoo News AU
Wall Street Summary
Stocks fell Friday, capping a week of losses for U.S. markets.
The fell $S&P 500 Index (.SPX.US)$ 1.3%. The tech-heavy $Nasdaq Composite Index (.IXIC.US)$ dropped 1.5%. The blue chip $Dow Jones Industrial Average (.DJI.US)$ declined 287 points, or 0.9%.
All three major indexes finished the week in the red. Investors grappled with a sharp increase in borrowing costs and the possibility of worsening violence in the Middle East.
AU Market Watch
Australian shares dropped 0.8 per cent minutes after starting to trade on Monday, mirroring Wall Street on worries about further interest rate increases by the Federal Reserve, and fear of the Middle East conflict spreading.
The benchmark $S&P/ASX 200 (.XJO.AU)$ lost 55.2 points, or 0.8 per cent, to 6845.5 by 10.20am AEDT, extending last week's decline in response to the Israel-Hamas conflict and dwindling expectations for global growth.
Nine out of the 11 sectors were in the red with materials and energy leading losses.
Stocks to Watch
$Judo Capital Holdings Ltd (JDO.AU)$: Judo Bank is seeking to raise $75 million in perpetual subordinated notes.
$Treasury Wine Estates Ltd (TWE.AU)$: Treasury Wine Estates outlined a plan should China remove its tariffs on Australian wine with a focus on luxury and premium brands.
$South32 Ltd (S32.AU)$: South 32 affirms output guidance for fiscal 2024 and flagged a 33pc drop in coal production this quarter.
$Pro Medicus Ltd (PME.AU)$: Pro Medicus signed a $16m contract with US-based South Shore Health to provide imaging services.
$Viva Energy Group Ltd (VEA.AU)$: Viva Energy Group reported a 4.7pc increase in fuel sales, but rising oil prices dented its retail petrol margins.
$Centuria Industrial REIT (CIP.AU)$: Centuria Industrial REIT affirmed its funds from operations guidance for fiscal 2024 of 17¢ per unit (cpu) and distribution guidance of 16¢, reflecting an annualised distribution yield of 5.4 per cent.
Dividends Paid: None
Listing: None
Economic Calendar (AEST):
No major economic announcements.
Source: Dow Jones Newswires, AFR
Disclaimer: Moomoo Technologies Inc. is providing this content for information and educational use only.
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