AU Morning Wrap: ASX jumps; Dye & Durham reduces Link offer
G'day, mooers! Check out the latest news on today's stock market!
• Wall Street roared last Friday
• Australian shares jumped on Monday, ASX 200 up 1.25 per cent
• Stocks to watch: Link Group, Carsales, Evolution Mining, Metcash
- moomoo News AU
• Wall Street roared last Friday
• Australian shares jumped on Monday, ASX 200 up 1.25 per cent
• Stocks to watch: Link Group, Carsales, Evolution Mining, Metcash
- moomoo News AU
Wall Street Summary
US stocks surged on expectations weakening economic signals and declining commodity prices will limit the scale of interest rate rises.
The $S&P 500 Index(.SPX.US$ jumped 116 points or 3.06 per cent. The $Dow Jones Industrial Average(.DJI.US$ gained 823 points or 2.68 per cent. The $Nasdaq Composite Index(.IXIC.US$ advanced 375 points or 3.34 per cent.
AU Market Watch
Australia's S&P/ASX 200 is on track to open sharply higher, building on its strong gains of last week and a positive lead from U.S. stocks. ASX futures are up by 1.6%, indicating that the benchmark index will add to its 1.6% advance across last week.
Australian shares opened higher this morning. The $S&P/ASX 200(.XJO.AU$ gained 1.25 per cent to 6661 as of 10:14 am.
US stocks surged on expectations weakening economic signals and declining commodity prices will limit the scale of interest rate rises.
The $S&P 500 Index(.SPX.US$ jumped 116 points or 3.06 per cent. The $Dow Jones Industrial Average(.DJI.US$ gained 823 points or 2.68 per cent. The $Nasdaq Composite Index(.IXIC.US$ advanced 375 points or 3.34 per cent.
AU Market Watch
Australia's S&P/ASX 200 is on track to open sharply higher, building on its strong gains of last week and a positive lead from U.S. stocks. ASX futures are up by 1.6%, indicating that the benchmark index will add to its 1.6% advance across last week.
Australian shares opened higher this morning. The $S&P/ASX 200(.XJO.AU$ gained 1.25 per cent to 6661 as of 10:14 am.
Stocks to Watch
$Link Administration Holdings Ltd(LNK.AU$: Dye & Durham has cuts its takeover offer for Link Group to $4.30 per share, compared to its previous bid of $5.50.
$CAR Group Ltd(CAR.AU$: Carsales.com has requested its shares be placed in a trading halt pending an announcement in connection with a capital raising to be undertaken by way of a pro-rata accelerated non-renounceable entitlement offer.
$Evolution Mining Ltd(EVN.AU$: Evolution Mining says production levels are expected to be lower than it previously forecast for the 2023 financial year because of its Red Lake project transformation being achieved a year later than planned.
$Metcash Ltd(MTS.AU$: Metcash has reported a 5.9 per cent increase in group revenue to $15.2 billion for the full year ended April 30. Underlying EBIT rose 17.7 per cent to $472.3 million.
Ex-dividend: $Fat Prophets Global Property Fund(FPP.AU$, $NZME Ltd(NZM.AU$
Commodities
• Iron ore futures prices fell last Friday, import interest for August laycan cargoes remained firm, sources told Fastmark.
• Oil was ripe for a rebound after falling -16% in two weeks.
• Gold prices remain steady as it attempts to price in upcoming aggressive policy tightening from global central banks.
Source: Dow Jones Newswires, AFR
$Link Administration Holdings Ltd(LNK.AU$: Dye & Durham has cuts its takeover offer for Link Group to $4.30 per share, compared to its previous bid of $5.50.
$CAR Group Ltd(CAR.AU$: Carsales.com has requested its shares be placed in a trading halt pending an announcement in connection with a capital raising to be undertaken by way of a pro-rata accelerated non-renounceable entitlement offer.
$Evolution Mining Ltd(EVN.AU$: Evolution Mining says production levels are expected to be lower than it previously forecast for the 2023 financial year because of its Red Lake project transformation being achieved a year later than planned.
$Metcash Ltd(MTS.AU$: Metcash has reported a 5.9 per cent increase in group revenue to $15.2 billion for the full year ended April 30. Underlying EBIT rose 17.7 per cent to $472.3 million.
Ex-dividend: $Fat Prophets Global Property Fund(FPP.AU$, $NZME Ltd(NZM.AU$
Commodities
• Iron ore futures prices fell last Friday, import interest for August laycan cargoes remained firm, sources told Fastmark.
• Oil was ripe for a rebound after falling -16% in two weeks.
• Gold prices remain steady as it attempts to price in upcoming aggressive policy tightening from global central banks.
Source: Dow Jones Newswires, AFR
Disclaimer: Moomoo Technologies Inc. is providing this content for information and educational use only.
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