AU Morning Wrap: ASX Rises; WiseTech, Xero and Technology One Rallies
G'day, mooers! Check out the latest news on today's stock market!
• Nasdaq continues climb as tech rally pushes on
• ASX rises, tech stocks rally
• Stocks to watch: Xero, St Barbara, Transurban
- Moomoo News AU
• Nasdaq continues climb as tech rally pushes on
• ASX rises, tech stocks rally
• Stocks to watch: Xero, St Barbara, Transurban
- Moomoo News AU
Wall Street Summary
Stocks were mixed on Wall Street, as indexes drifted between small gains and losses through a quiet day of trading.
The $S&P 500 Index(.SPX.US$ closed flat, the $Dow Jones Industrial Average(.DJI.US$ lost 0.2 per cent, while the $Nasdaq Composite Index(.IXIC.US$ rose by 0.3 per cent.
AU Market Watch
The $S&P/ASX 200(.XJO.AU$ rose modestly, up 0.2 per cent or 15.1 points to 7211.6 at market open, buoyed by technology and financials stocks.
Information technology was the best performing sector, up 1 per cent. $WiseTech Global Ltd(WTC.AU$ shares rallied 1.9 per cent, $Xero Ltd(XRO.AU$ climbed 2.2 per cent, $Technology One Ltd(TNE.AU$ gained 1.7 per cent and $Nextdc Ltd(NXT.AU$ rose 1.4 per cent.
The major banks recorded gains.
$Transurban Group(TCL.AU$ shares rose 0.5 per cent even as the competition regulator announced that it has concerns about the toll roads operator's proposed acquisition of Horizon Roads.
$St Barbara Ltd(SBM.AU$ shares dropped 2.1 per cent after the gold miner announced the appointment of a new chief executive.
Stocks to Watch
$Harvey Norman Holdings Ltd(HVN.AU$: Two brokers have upgraded their views on the discretionary retailer.
Harvey Norman is now a HOLD after an upgrade at Jefferies. The price target is still $3.20/share.
Harvey Norman is now EQUAL-WEIGHT at Morgan Stanley (upgraded from underweight). The price target remains at $3.50/share. Ironically, the same report also downgrades $JB Hi Fi Ltd(JBH.AU$ to UNDERWEIGHT from equal-weight. The price target for JB Hi-Fi moves from $44.30 to $38.90/share.
$ASX Ltd(ASX.AU$: The Australian Securities Exchange has denied deciding on the technical partner for the CHESS replacement.
It comes as Senator Deborah O'Neill claimed at a senate inquiry this week, that the stock exchange has picked Nasdaq for its CHESS replacement project.
$Medibank Private Ltd(MPL.AU$: Medibank has announced it will return a further $125 million to customers due to permanent net claims savings from the COVID pandemic.
The insurance provider confirmed that Medibank and ahm customers will receive funds through a cash back as "part of its commitment to not profit from the pandemic."
$National Australia Bank Ltd(NAB.AU$: National Australia Bank has announced that KPMG Australia chair Alison Kitchen will join its board as a non-executive director.
$Jaxsta Ltd(JXT.AU$: Music credits database company Jaxsta says $WiseTech Global Ltd(WTC.AU$ chief executive Richard White has become a substantial shareholder in the business.
The company confirmed that White joined last week as part of its $3 million capital raise.
Jaxsta also announced that chief strategy officer Josh Simons has been appointed CEO.
$Transurban Group(TCL.AU$: The competition regulator says its raised concerns about Transurban's proposed acquisition of a majority interest in Horizon Roads.
Horizon Roads is the operator of EastLink toll road in Melbourne.
"We are considering Transurban's advantages from already owning two toll road concessions in Melbourne, and the extent to which owning a majority interest in Horizon Roads will further advantage it when competing for future toll road projects," Chair Gina Cass-Gottlieb said in a statement.
The competition regulator says its concerned that the proposed acquisition could deter the arrival of a rival to Transurban for future toll road concessions.
Trading Ex-div: None
Source: Dow Jones Newswires, AFR
Disclaimer: Moomoo Technologies Inc. is providing this content for information and educational use only.
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