AU Morning Wrap: ASX opens lower, led by banks and tech
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• Recession risks drag the S&P 500 lower
• Australian shares opened lower on Thursday, ASX 200 down 0.39 per cent
• Stocks to watch: Collection House, HRL, AGL, CSR
- moomoo News AU
• Recession risks drag the S&P 500 lower
• Australian shares opened lower on Thursday, ASX 200 down 0.39 per cent
• Stocks to watch: Collection House, HRL, AGL, CSR
- moomoo News AU
Wall Street Summary
US stocks struggled for direction as GDP data confirmed a slowdown in consumer spending and the Federal Reserve reaffirmed its commitment to raise rates until inflation is under control.
The $Dow Jones Industrial Average(.DJI.US$ gained 82 points or 0.27 per cent. The $S&P 500 Index(.SPX.US$ eased three points or 0.07 per cent. The $Nasdaq Composite Index(.IXIC.US$ dipped four points or 0.03 per cent.
AU Market Watch
Australia's S&P/ASX 200 is on track to open steady after U.S. stocks closed with little change. ASX futures are effectively flat, suggesting an uncertain start following Wednesday's 0.9% decline. Weak mining stocks drove the benchmark index's pullback following four consecutive trading-day gains.
Australian shares opened lower this m
orning. The $S&P/ASX 200(.XJO.AU$ lost 0.39 per cent to 6674 as of 10:20 am.
US stocks struggled for direction as GDP data confirmed a slowdown in consumer spending and the Federal Reserve reaffirmed its commitment to raise rates until inflation is under control.
The $Dow Jones Industrial Average(.DJI.US$ gained 82 points or 0.27 per cent. The $S&P 500 Index(.SPX.US$ eased three points or 0.07 per cent. The $Nasdaq Composite Index(.IXIC.US$ dipped four points or 0.03 per cent.
AU Market Watch
Australia's S&P/ASX 200 is on track to open steady after U.S. stocks closed with little change. ASX futures are effectively flat, suggesting an uncertain start following Wednesday's 0.9% decline. Weak mining stocks drove the benchmark index's pullback following four consecutive trading-day gains.
Australian shares opened lower this m
orning. The $S&P/ASX 200(.XJO.AU$ lost 0.39 per cent to 6674 as of 10:20 am.
Stocks to Watch
$Collection House Ltd(CLH.AU$: Queensland-based debt collection business Collection House has appointed administrators after being unable to restructure its debt. It said a sale and recapitalisation process would be run for the company. Trading in the shares will remain suspended during the administration period.
$HRL Holdings Ltd(HRL.AU$: The board of HRL Ltd is recommending shareholders accept a 16¢ per share full takeover bid from life sciences group $ALS Ltd(ALQ.AU$.
$CSR Ltd(CSR.AU$: Building products business CSR Ltd says it will commence an on-market share buyback of up to $100 million.
$AGL Energy Ltd(AGL.AU$: Energy retailer AGL has announced a company which appears from ASIC searches to be a subsidiary of Brookfield Asset Management has bought 17.2 million shares or 2.56 per cent of the register as at June 24.
Dividends paid: $KMD Brands Ltd(KMD.AU$, $Kelly Partners Group Holdings Ltd(KPG.AU$, $Tower Ltd(TWR.AU$
Commodities
• Iron ore prices fell on Wednesday.
• Oil prices dipped amid disappointing economic data, downgrades to travel stocks and demand concerns.
• Gold struggled to capitalise on falling yields. The inflation surprise in Spain is likely a red flag for more aggressive interest rate hikes, which will continue to weigh on the non-yield bearing yellow metal.
Source: Dow Jones Newswires, AFR
$Collection House Ltd(CLH.AU$: Queensland-based debt collection business Collection House has appointed administrators after being unable to restructure its debt. It said a sale and recapitalisation process would be run for the company. Trading in the shares will remain suspended during the administration period.
$HRL Holdings Ltd(HRL.AU$: The board of HRL Ltd is recommending shareholders accept a 16¢ per share full takeover bid from life sciences group $ALS Ltd(ALQ.AU$.
$CSR Ltd(CSR.AU$: Building products business CSR Ltd says it will commence an on-market share buyback of up to $100 million.
$AGL Energy Ltd(AGL.AU$: Energy retailer AGL has announced a company which appears from ASIC searches to be a subsidiary of Brookfield Asset Management has bought 17.2 million shares or 2.56 per cent of the register as at June 24.
Dividends paid: $KMD Brands Ltd(KMD.AU$, $Kelly Partners Group Holdings Ltd(KPG.AU$, $Tower Ltd(TWR.AU$
Commodities
• Iron ore prices fell on Wednesday.
• Oil prices dipped amid disappointing economic data, downgrades to travel stocks and demand concerns.
• Gold struggled to capitalise on falling yields. The inflation surprise in Spain is likely a red flag for more aggressive interest rate hikes, which will continue to weigh on the non-yield bearing yellow metal.
Source: Dow Jones Newswires, AFR
Disclaimer: Moomoo Technologies Inc. is providing this content for information and educational use only.
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