AU Morning Wrap: ASX Rises; Origin Rejects 'Plan B' Proposal
G'day, mooers! Check out the latest news on today's stock market!
• S&P 500 gives back early strength
• ASX rises; Origin drops after rejection
• Stocks to watch: Origin Energy, Iress
- Moomoo News AU
![AU Morning Wrap: ASX Rises; Origin Rejects 'Plan B' Proposal](https://ussnsimg.moomoo.com/feed_image/151000101/efe441ea1efa3dcd8d6d2bdaeacbd184.webp/bigmoojpg)
Wall Street Summary
Stocks wavered Wednesday, dampening a November rally that has sent the S&P 500 toward its best month since July 2022.
The $S&P 500 Index (.SPX.US)$ edged lower 0.1 per cent. The $Dow Jones Industrial Average (.DJI.US)$ added 13 points, or less than 0.1 per cent. The tech-heavy $Nasdaq Composite Index (.IXIC.US)$ fell 0.2 per cent.
AU Market Watch
Australian shares rose at the open on Thursday, in line with modest gains on Wall Street, as bond yields extended their slide on heightened expectations that interest rate cuts are far closer than previously thought.
The benchmark $S&P/ASX 200 (.XJO.AU)$ added 0.1 per cent, or 7.4 points to 7042.7 at the start of trade, buoyed by gains in the industrials sector. The Australian dollar dipped to US66.14¢.
Stocks to Watch
$Origin Energy Ltd (ORG.AU)$: Origin Energy shares fell 2 per cent after it rejected the 'plan B' proposal lobbed by its suitors, Canada's Brookfield and its private equity partner EIG, as a last-ditch attempt to buy the ASX-listed electricity and gas giant.
$SkyCity Entertainment Group Ltd (SKC.AU)$: SkyCity Entertainment shares rallied 1.5 per cent after the High Court of New Zealand rule in favour of the casino operator's interpretation of a concession agreement with Macquarie over the termination of a 2019 deal to own and operate car parks at its flagship Auckland casino.
$Liontown Resources Ltd (LTR.AU)$: Liontown Resources edged lower 0.3 per cent. Former Fortescue Metals chief financial officer Ian Wells has been appointed to its board. Wells was the CFO of Fortescue until January this year, following his shock resignation.
$IRESS Ltd (IRE.AU)$: Financial services and data firm Iress surged 12.5 per cent after it upgraded its earnings guidance for financial year 2023 to $123 million to $128 million from $118 million to $122 million.
Economic Calendar (AEST):
11:30 am: Australia Building Permits (Oct)
11:30 am: Australia Housing Credit (Oct)
12:30 pm: China NBS Manufacturing and Services PMI (Nov)
9:00 pm: Eurozone Inflation (Nev)
11:00 pm: India GDP (Oct)
12:30 am: Canada GDP (Q3)
12:30 am: US Personal Consumption Index (Oct)
Source: Dow Jones Newswires, AFR
Disclaimer: Moomoo Technologies Inc. is providing this content for information and educational use only.
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