AU Morning Wrap: ASX Shares Steady; Guzman y Gomez to List on ASX

At the opening bell, Australian shares remained steady, aiming to avoid a third down day in four sessions this week. The consumer discretionary sector is leading the market, up 0.2 per cent on the $S&P/ASX 200 (.XJO.AU)$. Meanwhile, the materials sector is down 0.2 per cent, experiencing a 10.1 per cent dip over the past month due to weaker commodity prices weighing down the valuations of miners.

Investor attention is focused on burrito chain $Guzman y Gomez Ltd (GYG.AU)$, which is set to debut on the ASX at 12pm after raising nearly $335 million at an initial public offering price of $22 per share, valuing the company at $2.2 billion.

The $AUD/USD (AUDUSD.FX)$ is trading at US66.71¢, a decrease of 0.01%.

As of latest data, $Bitcoin (BTC.CC)$ is priced at $64,952, up by 2.05% in the past 24 hours, while $Ethereum (ETH.CC)$ is priced at $3,562, up by 2.53% in the past 24 hours.

Shares in $Dexus (DXS.AU)$, the property group, have declined by 1.4% to $6.45 following the announcement of an anticipated 11.4% decrease in the valuations of its office properties in financial year 2024.

$Bigtincan Holdings Ltd (BTH.AU)$, the software player, has put its shares in a trading halt after rejecting a takeover bid of 19¢ per share.

$Mineral Resources Ltd (MIN.AU)$, led by Chris Ellison, will close its iron ore mines that currently provide employment for 1000 workers. The company intends to seek alternative job opportunities for the displaced workers within the organization. As a result of this decision, the stock experienced a 0.6% drop to $60.22 this morning.