AU Morning Wrap: ASX gains 1% at open; EML dives 30%

The $道瓊斯指數 (.DJI.US)$ soared 829 points or 2.59 per cent to a sixth straight gain. The $標普500指數 (.SPX.US)$ put on 94 points or 2.46 per cent. The $納斯達克綜合指數 (.IXIC.US)$ advanced 310 points or 2.87 per cent.

The Dow's longest daily winning streak since May lifted it 5.7 per cent last week amid growing conviction the worst of this year's bear market has passed. The blue-chip average has risen for four straight weeks, setting it on course for its best month since 1976 and possibly its best October of all time.

AU Market Watch
The $S&P/ASX 200 (.XJO.AU)$ has gained 1.03 per cent at the open, tech leads; EML dives 30 per cent.

Stocks to Watch
$Coronado Global Resources Inc (CRN.AU)$: Cashed up coal miner Coronado has not been able to strike a merger deal with Peabody Energy but says talks are "ongoing" as it downgraded coal volumes and treated shareholders to a special dividend.

$Nitro Software Ltd (NTO.AU)$: Nitro has entered a process deed with KKR-backed Alludo, a North American software company, which is getting exclusive due diligence with a bid at $2 a share.

$EML Payments Ltd (EML.AU)$: Shares in EML Payments dove 20 per cent at the open on Monday after the company said it would temporarily stop onboarding new customers, agents and distributors to its UK subsidiary, Prepaid Financial Services Limited, following concerns raised by the UK Financial Conduct Authority.

$Australian Strategic Materials Ltd (ASM.AU)$: Australian Strategic Materials has been placed in a trading halt pending the release of an announcement relating to a "material capital raising".

Ex-dividend: $Autosports Group Ltd (ASG.AU)$

Dividends paid: $Steamships Trading Co Ltd (SST.AU)$, $Magontec Ltd (MGL.AU)$, $Rural Funds Group (RFF.AU)$, $Kelly Partners Group Holdings Ltd (KPG.AU)$

Commodities
• Iron ore futures fell 2.2% to US$78.4 a tonne. Prices are down 17% in the past week to the lowest level since March 2020.

• Oil prices inched lower in volatile trade.