AU Morning Wrap: ASX Lifts, Regal Partners Leaps 11.4% After Taurus Buy

Moomoo News AU wrote a column · Nov 1, 2023 07:44

G'day, mooers! Check out the latest news on today's stock market!
• S&P 500 logs 3-month losing streak
• ASX rises 0.5%
• Stocks to watch: Amcor, Australian Clinical Labs, Regal Partners
- Moomoo News AU

AU Morning Wrap: ASX Lifts, Regal Partners Leaps 11.4% After Taurus Buy

Wall Street Summary

A busy day for corporate earnings reports ended with major stock indexes higher, though not enough to prevent them from a third-straight monthly decline.

The $S&P/ASX 200 (.XJO.AU)$ climbed 0.6 per cent on Tuesday, to end October 2.2 per cent lower. Every industry segment in the benchmark index rose, with real-estate companies, banks and utilities leading the way.

The tech-heavy $Nasdaq Composite Index (.IXIC.US)$ climbed 0.5% and the $Dow Jones Industrial Average (.DJI.US)$ added 0.4 per cent, or 124 points. For the month, they lost 2.8 per cent and 1.4%, respectively.

AU Market Watch

The sharemarket rose early on Wednesday, mirroring a rise on Wall Street ahead of the conclusion of a two-day monetary policy meeting of the US Federal Reserve.

The $S&P/ASX 200 (.XJO.AU)$ opened 0.5 per cent higher or 31.2 points to 6811.9. The All Ordinaries was also up 0.5 per cent. The ASX ended October 3.8 per cent lower, the biggest monthly drop in over a year.

All 11 sectors flashed green with consumer discretionary and real estate leading gains.

The four major banks were firm, and heavyweight miners Rio Tinto, BHP Group and Fortescue Metals were between 0.7 per cent and 1.3 per cent higher.

$BHP Group Ltd (BHP.AU)$ hosts its annual meeting in Adelaide today.

Stocks to Watch

$Amcor PLC (AMC.AU)$: Amcor shares jumped 1.2 per cent after the company affirmed earnings guidance of 67¢ to 71¢ a share and free cash flow of $850 million to $950 million for fiscal 2024.

$Australian Clinical Labs Ltd (ACL.AU)$: Australian Clinical Labs rallied 1.5 per cent and its takeover target Healius leapt 2 per cent after the acquisition bid was extended to next year.

$Regal Partners Ltd (RPL.AU)$: Regal Partners shot up 11.4 per cent after buying a 50 per cent stake in Taurus Funds, taking Regal's funds management to $8 billion.

$Sezzle (SEZL.US)$: Payment company Sezzle eged up 0.3 per cent. Its total income rose 2.8 per cent to $US14.4 million ($22.3 million) in September from August, taking annual gains 36 per cent higher from a year ago.

Trading Ex-div: $Tribune Resources Ltd (TBR.AU)$, $Rand Mining Ltd (RND.AU)$

Dividends Paid: None

Listing: None

Economic Calendar (AEST):

12:45 pm: China Caixin Manufacturing PMI

1:00 am: US ISM Manufacturing PMI

1:00 am: US JOLTs Job Openings

5:00 am: Fed Interest Rate Decision

Source: Dow Jones Newswires, AFR

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