AU Morning Wrap: ASX jumps on energy, banks, miners

The $Dow Jones Industrial Average(.DJI.US)$ ended the day up 827.87 points, or 2.8%, to 30038.72, its largest one-day percentage gain since November 2020. The $S&P 500 Index(.SPX.US)$ rose 92.88 points, or 2.6%, to 3669.91. The $Nasdaq Composite Index(.IXIC.US)$ advanced 232.05 points, or 2.2%, to 10649.15.

AU Market Watch
The $S&P/ASX 200(.XJO.AU)$ is up 1.79 per cent in early trade as the energy sector surges 3.1 per cent on strength in the oil price overnight. Every sector is higher in a relief rally over US inflation data not running out of control for September.

Shares in packaging business $Amcor PLC(AMC.AU)$ are up 4.8 per cent, with oil and gas giant $Woodside Energy Group Ltd(WDS.AU)$ adding 4.2 per cent.

Healthcare giant $Cochlear Ltd(COH.AU)$ has jumped 4.2 per cent.

British bank $Virgin Money UK PLC(VUK.AU)$ has soared 9.5 per cent as the Bank of England again moved to prop up the UK pension market.

Stocks to Watch
Broker Jarden has run the ruler over upcoming AGMs and said $Magellan Financial Group Ltd(MFG.AU)$ and $Myer Holdings Ltd(MYR.AU)$ are two to watch.

"We will be looking for significant changes across the board covering the multiple issues within the business and hope it will be a reflection of the change in management/governance practice," Jarden said. "If there are no major changes, this would point again to poor governance overall "

On retailer Myer, the broker suggests Solomon Lew is likely to feature front and centre again at its November 10 AGM.

Ex-dividend: $Lion Selection Group Ltd(LSX.AU)$, $Harvey Norman Holdings Ltd(HVN.AU)$

Dividends paid: $Imperial Pacific Ltd(IPC.AU)$, $Gale Pacific Ltd(GAP.AU)$, $London City Equities Ltd(LCE.AU)$, $Caravel Minerals Ltd(CVV.AU)$, $HUB24 Ltd(HUB.AU)$, $Link Administration Holdings Ltd(LNK.AU)$, $Peet Ltd(PPC.AU)$, $29Metals Ltd(29M.AU)$, $Pepper Money Ltd(PPM.AU)$, $Super Retail Group Ltd(SUL.AU)$

Commodities
• Iron ore futures fell 1.2% on Thursday to US$94.9 a tonne.