AU Morning Wrap: ASX Stocks Rise; Miners Benefit from Strong Commodity Prices

The $S&P/ASX 200 (.XJO.AU)$ rose by 0.1% at the opening bell driven by the energy and materials sectors. Rising oil, copper, and gold prices pushed these sectors higher. $Newmont Corp (NEM.AU)$ added 0.8% to $63.85, while diversified commodities group $South32 Ltd (S32.AU)$ advanced 1% to $3.92. However, the uranium sector was among the worst performers, with $Boss Energy Ltd (BOE.AU)$ down 6.7% after its CEO sold over $20 million worth of shares in the South Australian producer.

The $AUD/USD (AUDUSD.FX)$ is trading at US66.56¢, an increase of 0.03%.

As of latest data, $Bitcoin (BTC.CC)$ is priced at $69,323, up 1.07% in the past 24 hours, while $Ethereum (ETH.CC)$ is priced at $3,884, up 1.39% in the past 24 hours.

Car dealership group $Peter Warren Automotive Holdings Ltd (PWR.AU)$ has issued a profit warning, citing increasing competition in the sector and slowing sales amid a household cost-of-living squeeze. The squeeze on margins has led to a decline in profits for the company.

Medical software company $Pro Medicus Ltd (PME.AU)$ has announced five new contract wins in the US worth a minimum total of $45 million. This news has led to a 2.7% increase in the company's stock, which now trades at $116.31.

Online gaming business $PlaySide Studios Ltd (PLY.AU)$ has lifted its guidance for EBITDA for financial 2024 to between $16 million and $18 million, up from its prior guidance of between $11 million and $13 million. This news has led to a 13.8% jump in the company's shares, which now trade at $1.03.