AU Evening Wrap: ASX Slips 0.2%; Goldman Tips Cash Rate to Peak at 4.85%
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• Top gainers: $Novonix(NVX.AU$, $GQG Partners Inc(GQG.AU$, $IDP Education Ltd(IEL.AU$
• Top losers: $Beach Energy Ltd(BPT.AU$, $Incitec Pivot Ltd(IPL.AU$, $Meridian Energy Ltd(MEZ.AU$
- moomoo News AU
• Top gainers: $Novonix(NVX.AU$, $GQG Partners Inc(GQG.AU$, $IDP Education Ltd(IEL.AU$
• Top losers: $Beach Energy Ltd(BPT.AU$, $Incitec Pivot Ltd(IPL.AU$, $Meridian Energy Ltd(MEZ.AU$
- moomoo News AU
The $S&P/ASX 200(.XJO.AU$ fell 0.2 per cent, or 11.6 points, to 7118 at market close after recording gains early during the trading session.
The energy sector was the worst performing, down 0.7 per cent. $Beach Energy Ltd(BPT.AU$ shares dropped 8.1 per cent. $Viva Energy Group Ltd(VEA.AU$ shed 2.8 per cent, $Karoon Energy Ltd(KAR.AU$ fell 3.5 per cent and $Woodside Energy Group Ltd(WDS.AU$ shed 0.4 per cent.
The major banks fell in the red. $CommBank(CBA.AU$ shares fell 0.9 per cent. $Westpac Banking Corp(WBC.AU$ dropped 1.5 per cent. $National Australia Bank Ltd(NAB.AU$ shares shed 1.8 per cent. $ANZ Group Holdings Ltd(ANZ.AU$ lost 0.04 per cent.
Healthcare stocks rallied. $Polynovo Ltd(PNV.AU$ shares surged 15.8 per cent after it posted a record monthly sale of $7.2 million in May. $Cochlear Ltd(COH.AU$ rose 1.8 per cent. $CSL Ltd(CSL.AU$ added 0.4 per cent. $Estia Health Ltd(EHE.AU$ rallied 13.3 per cent after Bain Capital lobbed a $3.20 a share revised non-binding bid to acquire the aged care operator.
Biotech $Pacific Edge Ltd(PEB.AU$ shares slumped 73.7 per cent after the company warned its bladder cancer detection product was rejected for US Medicare coverage.
$BHP Group Ltd(BHP.AU$ shares rose 0.1 per cent.
Goldman Sachs says it now expects the cash rate to peak at 4.85 per cent, noting the Reserve Bank's "hawkish" shift in its reaction to combat inflation.
It comes as the central bank increased the cash rate to 4.1 per cent at Tuesday's June board meeting.
The broker is counting on the RBA to raise the cash rate by 0.25 of a percentage point for three consecutive months from July to September. It previously projected the terminal rate to be 4.35 per cent.
S&P/ASX 200 Movers for Wednesday (7/6)
How to find the above information in moomoo app:
1. Open moomoo app
2. Search for and tap on ".XJO"
3. Roll down to see "Constituent Stocks"
4. You can filter the list based on "%Chg"
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 Wednesday (7/6)
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
Disclaimer: Moomoo Technologies Inc. is providing this content for information and educational use only.
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