AU Morning Wrap: ASX Opens Flat; Worley Plummets 11%
G'day, mooers! Check out the latest news on today's stock market!
• Dow, S&P 500 climb to start major earnings week
• ASX opens flat; Worley plummets 11%
• Stocks to watch: Coles, Ampol, BHP
Wall Street Summary
The Dow industrials, S&P 500 and Nasdaq Composite all traded higher Monday as $Tesla (TSLA.US)$ and $Royal Philips (PHG.US)$ rallied and markets awaited the Fed's latest rate decision later this week.
The $S&P 500 Index (.SPX.US)$ climbed 0.32% hortly after the closing bell. while the $Dow Jones Industrial Average (.DJI.US)$ added 0.38%. Meanwhile, the $Nasdaq Composite Index (.IXIC.US)$ rose 0.35%.
$U.S. 2-Year Treasury Notes Yield (US2Y.BD)$ climbed to 4.98% after hitting 5.02% briefly, the $U.S. 10-Year Treasury Notes Yield (US10Y.BD)$ climbed to 4.64%.
AU Market Watch
On Tuesday, Australian shares opened flat as investors waited for the US Federal Reserve's rates decision later in the week. The $S&P/ASX 200 (.XJO.AU)$ inched higher by 3.8 points, following a 0.8% increase on Monday.
Among the 11 sectors, only the materials sector was showing green, while $Worley Ltd (WOR.AU)$ was the largest decliner, falling by 11% after Street Talk reported that its largest shareholder, Dubai-based infrastructure group Sidara, had locked in $14.35 per share for its sale of a 19% stake.
Fuel supplier $Ampol Ltd (ALD.AU)$'s shares fell by 3.4% after reporting a 21% drop in Lytton Refiner Margin in the first quarter.
The big four banks saw a slight decrease, while mining giants saw an increase. $BHP Group Ltd (BHP.AU)$'s shares rose by 0.7% as it reached a $US25.7 billion ($38 billion) settlement with the Brazilian government following the Samarco dam disaster in 2015.
ASX 200 futures are currently trading at 7,658, down 14.0 points, indicating a 0.18% decrease.
Commodity
Australia's Coal Mines Emitting Double the Amount of Methane as Official Disclosures: Sims
According to Superpower Institute Chairman and former competition regulator, Rod Sims, Australia's open cut coal mines could be emitting more than twice as much methane as official disclosures suggest. This casts doubt on national carbon emissions data and efforts to combat climate change.
The initial results of the Open Methane satellite monitoring program, which is the first independent monitoring for the potent greenhouse gas, have revealed a significant discrepancy between data based on company numbers and results from international monitoring. The latter has shown emissions to be approximately 60% higher.
Crypto
As of latest data, $Bitcoin (BTC.CC)$ is priced at $63,789, up 1.09% in the past 24 hours, while $Ethereum (ETH.CC)$ is priced at $3,218, down 1.78% in the past 24 hours.
Stocks to Watch
$Coles Group Ltd (COL.AU)$, the supermarket giant, has reported a 3.4% increase in total group sales revenue, reaching $10.03 billion for the third quarter.
$Ampol Ltd (ALD.AU)$, the fuel supplier, has reported a 21% decrease in Lytton Refiner Margin, dropping to $US11.80 per barrel in the first quarter compared to a year ago. This was a result of lowered Singapore refined product cracks.
Mining giant $BHP Group Ltd (BHP.AU)$ has confirmed that it has reached a $US25.7 billion ($38 billion) settlement with the Brazilian government concerning the Samarco dam disaster that occurred in 2015.
Economic Calendar (AEST):
9:50am: JPY - Prelim Industrial Production, Retail Sales
11:00am: NZD - ANZ Business Confidence
11:30am: AUD - Retail Sales, Private Sector Credit, CNY - Manufacturing PMI, Non-Manufacturing PMI
11:45am: CNY - Caixin Manufacturing PMI
4:00pm: EUR - German Import Prices, German Retail Sales, German Unemployment Change, German Prelim GDP
6:30pm: GBP - M4 Money Supply m/m, Mortgage Approvals, Net Lending to Individuals m/m
7:00pm: EUR - Core CPI Flash Estimate, CPI Flash Estimate, Prelim Flash GDP
11:00pm: USD - S&P/CS Composite-20 HPI, HPI, Chicago PMI, CB Consumer Confidence
Source: Dow Jones Newswires, AFR
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