AU Evening Wrap: Gains evaporate as bond sell-off intensifies
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• ASX 200 closed lower Tuesday, dropping 22.80 points or 0.34% to 6,645.00.
• Top gainers: $Infratil Ltd(IFT.AU$ $Johns Lyng Group Ltd(JLG.AU$ $Allkem Ltd(AKE.AU$
• Top losers: $Imugene Ltd(IMU.AU$ $Megaport Ltd(MP1.AU$ $Sandfire Resources Ltd(SFR.AU$
- moomoo News AU
• ASX 200 closed lower Tuesday, dropping 22.80 points or 0.34% to 6,645.00.
• Top gainers: $Infratil Ltd(IFT.AU$ $Johns Lyng Group Ltd(JLG.AU$ $Allkem Ltd(AKE.AU$
• Top losers: $Imugene Ltd(IMU.AU$ $Megaport Ltd(MP1.AU$ $Sandfire Resources Ltd(SFR.AU$
- moomoo News AU
A share market rebound ran out of gas as a global bond market sell-off accelerated, pressuring US equity futures.
The $S&P/ASX 200(.XJO.AU$ faded to a loss of 23 points or 0.34 per cent after being up as much as 45 points.
Gains in utilities and industrial stocks were outweighed by declines in property, energy and bank stocks.
The ASX gave back its morning gains as the yield on ten-year Australian government bonds climbed back above 4 per cent. The ten-year yield was up almost 15 basis points at 4.02 per cent as the Australian stock market closed.
US yields were also on the rise. The yield on ten-year US treasuries firmed 10 points to 3.99 per cent.
Lithium miners continued to outperform the wider market. $Allkem Ltd(AKE.AU$ gained 4.73 per cent, $Mineral Resources Ltd(MIN.AU$ 2.78 per cent and $Liontown Resources Ltd(LTR.AU$ 1.63 per cent.
$Telstra Group Ltd(TLS.AU$ edged up 0.26 per cent after reaffirming full-year guidance at today's AGM. Total income is expected to rise to $23-$25 billion from $22 billion in FY22.
$Baby Bunting Group Ltd(BBN.AU$ lost a fifth of its value after warning of margin pressure as transport and other input costs rose. Gross profit declined 230 basis points to 37.2 per cent last quarter from the same period last year. Net profit after tax fell by $3 million. The share price dived 20.51 per cent to its lowest since May 2020.
Travel agent $Helloworld Travel Ltd(HLO.AU$ dipped 0.5 per cent after reporting a strong recovery in transaction volumes last quarter. Total transaction volume soared 352 per cent from the same period last year. Earnings for the quarter were an unaudited $5.3 million, versus a loss of $3.3 million in Q1 FY22.
Growth stocks were pressured by rising borrowing costs. $Megaport Ltd(MP1.AU$ shed 4.91 per cent. $Imugene Ltd(IMU.AU$ dropped 5.56 per cent.
S&P/ASX 200 Movers for Tuesday (11/10)
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2. Search for and tap on ".XJO"
3. Roll down to see "Constituent Stocks"
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2. Search for and tap on ".XJO"
3. Roll down to see "Constituent Stocks"
4. You can filter the list based on "%Chg"
10 Top-Traded AU Stocks for Tuesday (11/10)
How to find the above information in moomoo app:
1. Open moomoo app
2. Tap your finger on "Market" and "AU"
3. Roll down and tap on "Main Board"
4. You can filter the list based on "Turnover"
1. Open moomoo app
2. Tap your finger on "Market" and "AU"
3. Roll down and tap on "Main Board"
4. You can filter the list based on "Turnover"
Source: Dow Jones Newswires, The Market Herald
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