AU Morning Wrap: ASX Gains 1.2%; Real Estate, Miners Jump

The $S&P 500 Index(.SPX.US)$ rose 0.7% to close at the highest level since April 2022. The $Dow Jones Industrial Average(.DJI.US)$ added 0.3%, while the tech-heavy $Nasdaq Composite Index(.IXIC.US)$ was 1.2% higher.

The $S&P/ASX 200(.XJO.AU)$ added 1.2 per cent in early trade led higher by gains among interest rate sensitive banks, retail, and real estate businesses.

The materials sector jumped 1.7 per cent as gold prices jumped overnight to $US1962 an ounce. Among the gold miners $Evolution Mining Ltd(EVN.AU)$ is up 6.1 per cent, with $Northern Star Resources Ltd(NST.AU)$ jumping 5 per cent and $Newcrest Mining Ltd(NCM.AU)$ gaining 4.6 per cent.

Elsewhere, $BHP Group Ltd(BHP.AU)$ shares added 1.5 per cent, with lithium giant $Allkem Ltd(AKE.AU)$ up 0.8 per cent.

The real estate sector also jumped, with Westfield operator $Scentre Group(SCG.AU)$ up 2.1 per cent and $Mirvac Group(MGR.AU)$ adding 2.2 per cent to $2.29.

$Transurban Group(TCL.AU)$: Broker Citi has upgraded toll roads business Transurban from neutral to buy as its tolls are linked to inflation, while its debt pile is protected to an extent from rate rises by long-term hedging.

$Viva Leisure Ltd(VVA.AU)$: Gyms business Viva Leisure says it expects financial 2023 sales to hit $141.2 million, ahead of prior guidance between $137 million and $140 million. Operating income (EBITDA) is expected to finish between $28 million and $30 million.

$Cleanaway Waste Management Ltd(CWY.AU)$: Cleanaway Waste Management said it's to acquire Australian Eco Oils for $39 million subject to customary conditions.

$Viva Energy Group Ltd(VEA.AU)$: Oil refinery and petrol supply business Viva Energy said it expects adjusted EBITDA to be around $360 million over the six months to June 30. The group said its convenience business has performed strongly, but higher operating costs hit its energy and infrastructure business.

$Fortescue Ltd(FMG.AU)$: Fortescue Metals Group said there will be no further changes to the control, direction, or major shareholdings of what chairman Andrew Forrest owned via investment body Tattarang and associated entities, except for what has been previously advised.

$Blackmores Ltd(BKL.AU)$: Vitamins maker Blackmores said it will pay a special fully franked dividend of $3.29 per share on August 1 if its takeover by Kirrin Holdings is approved by shareholders.