AU Evening Wrap: Markets cheer UK tax backdown; stocks surge
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• ASX 200 closed up sharply Tuesday, gaining 114.80 points or 1.72% to 6,779.20.
• Top gainers: $Novonix(NVX.AU$ $Telix Pharmaceuticals Ltd(TLX.AU$ $Megaport Ltd(MP1.AU$
• Top losers: $Coronado Global Resources Inc(CRN.AU$ $Whitehaven Coal Ltd(WHC.AU$ $Ebos Group Ltd(EBO.AU$
- moomoo News AU
• ASX 200 closed up sharply Tuesday, gaining 114.80 points or 1.72% to 6,779.20.
• Top gainers: $Novonix(NVX.AU$ $Telix Pharmaceuticals Ltd(TLX.AU$ $Megaport Ltd(MP1.AU$
• Top losers: $Coronado Global Resources Inc(CRN.AU$ $Whitehaven Coal Ltd(WHC.AU$ $Ebos Group Ltd(EBO.AU$
- moomoo News AU
The share market logged its highest close in a week and a half after a UK government backdown on a controversial tax plan helped trigger a massive relief rally on Wall Street.
The gains followed an overnight surge in US stocks, and as strengthening US futures suggested more to come tonight. S&P 500 futures rallied more than 1.5 per cent this afternoon, inspiring the ASX 200 to close near a session high.
Growth stocks, REITs and other highly-geared sectors led as the cost of long-term borrowing retreated. Bank stocks rose after trading updates from US peers highlighted a sharp profit lift from interest rate rises.
The financial sector climbed 2 per cent to a two-month high after a trading update from Bank of America underscored the tailwinds for lenders from recent rate hikes. The US bank reported its net interest income jumped 24 per cent last quarter.
$National Australia Bank Ltd(NAB.AU$ rallied 1.46 per cent, $ANZ Group Holdings Ltd(ANZ.AU$ 0.94 per cent and $Commonwealth Bank of Australia(CBAPK.AU$ 1.72 per cent. $Macquarie Group Ltd(MQG.AU$ jumped 5.26 per cent.
Energy was the only sector to retreat, ignoring a modest rebound in crude overnight. $Santos Ltd(STO.AU$ fell 1.19 per cent, $Woodside Energy Group Ltd(WDS.AU$ 0.75 per cent and $Beach Energy Ltd(BPT.AU$ 0.32 per cent.
Gold miner $St Barbara Ltd(SBM.AU$ tumbled 21.64 per cent to a six-year low after downgrading guidance to reflect a production miss and a blowout in costs.
Gold miner $St Barbara Ltd(SBM.AU$ tumbled 21.64 per cent to a six-year low after downgrading guidance to reflect a production miss and a blowout in costs.
S&P/ASX 200 Movers for Tuesday (18/10)
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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 (18/10)
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Source: Dow Jones Newswires, The Market Herald
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