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AU Morning Wrap: ASX rises; miners advance on iron ore rally

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Moomoo News AU 發表了文章 · 2022/12/05 07:35
G'day, mooers! Check out the latest news on today's stock market!
• S&P 500 reverses sharp selloff after hot November jobs report
• ASX 200 added 0.34 per cent, buoyed by gains across the materials sector
• Stocks to watch: Fortescue, IGO, Splitit
- Moomoo News AU
AU Morning Wrap: ASX rises; miners advance on iron ore rally
Wall Street Summary
Wall Street's main indices finished mixed after the November jobs report appeared to bolster the case for another bumper interest rate hike this month. All three stock benchmarks slumped at least 1 per cent before steadying.
The $標普500指數 (.SPX.US)$ pared its fall to five points or 0.12 per cent. The $納斯達克綜合指數 (.IXIC.US)$ finished with a loss of 21 points or 0.18 per cent after being down as much as 1.6 per cent. The $道瓊斯指數 (.DJI.US)$ eked out a gain of 35 points or 0.1 per cent.
Payrolls increased by 263,000 last month, significantly more than the 200,000 anticipated by economists. Wages data also came in hotter than expected at +0.6 per cent for the month, compared to the previous month. Unemployment held steady at 3.7 per cent.
Investors hoped the report would show a slowdown in the labour market to allow the Fed to reduce its current aggressive pace of rate hikes. The central bank meets next week for the last time this year.

AU Market Watch
The $S&P/ASX 200 (.XJO.AU)$ added 0.34 per cent in the opening minutes of trade, buoyed by gains across the materials sector.
Higher iron ore prices have boosted miners of the bulk commodity; Fortescue rose 2.1 per cent to $20.10, BHP firmed 1.6 per cent to $46.50 and Champion Iron climbed 1.3 per cent to $6.84.
Metcash dipped 0.2 per cent to $4.22 despite lifting its interim dividend and beating earnings expectations.
IGO fell 2.1 per cent to $16 after a fire impacted its Nova operation over the weekend.
Splitit jumped 8.3 per cent to 19.5¢ after it expanded its agreement with Google to bring its instalments solution to the Google Store in the US, Canada and Australia.

Stocks to Watch
$BHP Group Ltd (BHP.AU)$: BHP and its UK business have filed their defence and a contribution claim against Vale in connection with a group action claim in the UK High Court that is seeking damages for alleged losses relating to the Fundão Dam collapse in 2015.
BHP and its UK business deny the claims in their entirety.
$IGO Ltd (IGO.AU)$: IGO has advised that a fire has impacted its Nova operation over the weekend, as reported by The Australian Financial Review.
The company said a fire damaged the Nova power station in the early hours of Saturday morning. There were no injuries and all personnel were safe.
All operations at Nova were currently suspended, and IGO said it was working with its partner, Zenith Energy, to re-establish power supply.
$Warrego Energy Ltd (WGO.AU)$: Warrego Energy has determined that Hancock Energy's revised 28¢ a share takeover bid is a superior proposal compared to Beach Energy’s revised upfront cash bid of 25¢ a share.
The Office of the Australian Information Commissioner will investigate Australian Clinical Labs' Medlab Pathology business after patient data ended up on the dark web, as reported in October.
$Splitit Payments Ltd (SPT.AU)$: Splitit has expanded its agreement with Google to bring its instalments solution to the Google Store in the US, Canada and Australia.
Splitit signed an initial agreement to provide Google with its instalment payment solutions in Japan in January 2021 that went live in April 2021.
$Metcash Ltd (MTS.AU)$: Metcash has increased its interim dividend after the company posted higher earnings in the half year ended October 31.
The company declared an interim dividend of 11.5¢ a share, up 9.5 per cent on FY22 after reporting a 10.3 per cent increase in underlying EBIT to $255.1 million. Revenue rose 8.2 per cent to $7.7 billion for the six-month period.
Metcash reported a 9.1 per cent increase in underlying profit to $159.9 million. On a statutory basis, profit after tax was $125.7 million.

Dividends Paid: None

Commodities
• Iron ore futures 0.5% to US$106.55 a tonne.
"The most recently released data shows that daily crude steel output at large and medium-sized mills in China averaged 2 million tons during November 11 - 20. This is 1% more than was seen during the first ten days of the month and is up year-on-year by 14%." - Breakwave Advisors
"Overall, it remains encouraging that China's steel output has stayed well above last year's level. We remain of our view that China's steel output likely bottomed in late July." - Breakwave Advisors

• Oil snapped a three day rally. Prices were under pressure after a strong-than-expected nonfarm payroll report pushed the US dollar higher in early trade.
在週末,OPEC+ 決定保持其石油產量不變。

• 黃金完成了會議下跌 0.3%,扭轉了熱門非農就業薪資報告後超過 1.3% 的下跌。
「自 11 月初以來,黃金一直有一個不錯的反彈,盈利可能會穩定下來,但似乎沒有明顯的回調。經濟正在放緩,通貨膨脹應該在這裡穩步下降,並證明美聯儲在第一季度後加息暫停。」-Oanda 高級市場分析師 Ed Moya

資料來源:道瓊斯新聞社,AFR
免責聲明:此内容由Moomoo Technologies Inc.提供,僅用於信息交流和教育目的。 更多信息
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