AU Morning Wrap: ASX Falls 0.2%, Corporate Travel Management Jumps Over 10%
G'day, mooers! Check out the latest news on today's stock market!
• Fed warns of a 'mild recession' this year, US inflation cools
• ASX falls 0.2%
• Stocks to watch: Corporate Travel, Qantas, Block
- Moomoo News AU
• Fed warns of a 'mild recession' this year, US inflation cools
• ASX falls 0.2%
• Stocks to watch: Corporate Travel, Qantas, Block
- Moomoo News AU
Wall Street Summary
U.S. stocks slipped Wednesday, giving up gains from earlier in the session.
Stocks began the day higher after data showed inflation eased to its lowest level in nearly two years in March. They then lost steam in the afternoon, ending the session around their lows for the day.
The $S&P 500 Index(.SPX.US$ fell 16.99 points, or 0.4%, to 4091.95, while the $Nasdaq Composite Index(.IXIC.US$ lost 102.54 points, or 0.9%, to 11929.34. The $Dow Jones Industrial Average(.DJI.US$ gave up 38.29 points, or 0.1%, to 33646.50.
AU Market Watch
Corporate Travel Management was the best performing stock, its shares surged 10.4 per cent amid news that the company won a contract with the UK Home Office.
Afterpay parent $Block Inc(SQ2.AU$ was the worst performing stock, it tumbled 6.2 per cent. $Qantas Airways Ltd(QAN.AU$ shares dropped 2.5 per cent.
March labour force report at 11.30am AEST.
Stocks to Watch
$Corporate Travel Management Ltd(CTD.AU$: Corporate Travel Management says it has won a bridging accommodation and travel services contract with the United Kingdom Home Office.
The government department has estimated the contract at £1.6bn (approximately $3 billion.) The contract commenced in March and is set for two years with ability for a one-year extension in line with ongoing demand requirements.
$Beach Energy Ltd(BPT.AU$: Oil and gas producer Beach Energy said March quarter production fell 5 per cent to 4.5 million barrels of oil, citing a gas surplus and planned shutdown of one of its mines for the lower output.
The company said its total sales revenue dropped 13 per cent below the prior quarter to $353 million, due to lower sales volumes and "lower realised oil pricing, partially offset by higher realised gas pricing."
The average realised sales price across all products was recorded at $76.9 per barrel of oil and was 3 per cent below the prior quarter. The average realised oil price decreased by 6 per cent to $133.2 per barrel and the average realised gas price increased by 7 per cent to $8.9 per gigajoule.
$X2M Connect Ltd(X2M.AU$: Software company X2M Connect has entered into a trading halt.
Its securities are set to remain in trading halt until next Monday. The stock last traded on April 4 at 7.5¢ a share.
Former Victorian treasurer Alan Stockdale (1992 to 1999) is the Chairman of X2M.
Listing: None
Source: Dow Jones Newswires, AFR
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