AU Morning Wrap: Australia Shares Rise Over 1%, Santos Jumps Amid Takeover Bid Interest

The $S&P 500 Index(.SPX.US)$ witnessed a modest rise of approximately 0.5%, reaching an unprecedented peak of 5,537, building upon the momentum from Tuesday's close which marked its first-ever finish above the 5,500 threshold. Similarly, the $Nasdaq Composite Index(.IXIC.US)$ experienced an uptick, closing the day with a gain of around 0.9%. In contrast, the $Dow Jones Industrial Average(.DJI.US)$ saw a marginal decline, edging down by roughly 0.1%.

Shares of $Santos Ltd(STO.AU)$ experienced a notable 3.6% increase, reaching $7.96, following a Bloomberg revelation that Saudi Aramco and Abu Dhabi National Oil Co are independently evaluating prospective offers for the Australian energy firm. This development comes as these Middle Eastern oil titans intensify their pursuit of international gas investment opportunities.

The $AUD/USD(AUDUSD.FX)$ is trading at US67.13¢, an increase of 0.11%.

Gold witnessed a notable increase of 1.03% overnight, reaching a price of US$2,356. The momentum extended to the Gold Miners ETF, which surged by 3.7%, hitting a near one-month peak. Newmont, a prominent NYSE-listed gold mining company, saw its shares ascend by 4.1%. This uptrend suggests a robust upcoming session for local gold-related stocks. $Gold Futures(AUG4)(GCmain.US)$
Copper prices experienced a significant uptick, rising 2.6% to US$4.52/lb. The Copper Miners ETF mirrored this positive trend with a 3.4% rally, also marking a one-month high. This upward movement signals a strengthening in the copper market. $Copper Futures(SEP4)(HGmain.US)$

As of latest data, $Bitcoin(BTC.CC)$ is priced at $60,292, down by 2.98% in the past 24 hours, while $Ethereum(ETH.CC)$ is priced at $3,303, down by 3.44% in the past 24 hours.

Shares of $Magellan Financial Group Ltd(MFG.AU)$ experienced a 5.8 percent increase following the announcement of accruing $19 million in performance fees, coupled with a report of steady inflows for the month of June.

Gold mining companies $Newmont(NEM.US)$ and $Evolution Mining Ltd(EVN.AU)$ saw their shares ascend by over 3 percent, buoyed by the continued uptrend in gold prices, which have reached $US2357 per ounce this week.

$Lendlease Group(LLC.AU)$'s stock performance remained unchanged at $5.68. This stability comes after the Australian Competition & Consumer Commission (ACCC) expressed potential opposition to Lendlease's proposed sale of a minor business division to Stockland.