AU Evening Wrap: Mid-East Tensions Send ASX Below 6800; Energy Stocks Lead Losses
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• Top gainers: $Imugene Ltd(IMU.AU$, $Nine Entertainment Co. Holdings Ltd(NEC.AU$, $Xero Ltd(XRO.AU$
• Top losers: $IGO Ltd(IGO.AU$, $The Star Entertainment Group Ltd(SGR.AU$, $Whitehaven Coal Ltd(WHC.AU$
- moomoo News AU
• Top gainers: $Imugene Ltd(IMU.AU$, $Nine Entertainment Co. Holdings Ltd(NEC.AU$, $Xero Ltd(XRO.AU$
• Top losers: $IGO Ltd(IGO.AU$, $The Star Entertainment Group Ltd(SGR.AU$, $Whitehaven Coal Ltd(WHC.AU$
- moomoo News AU
$S&P/ASX 200(.XJO.AU$ fell 0.8 per cent to 6772.9, hitting a fresh 12-month closing low amid weakness in financial, consumer and energy stocks. The benchmark index dropped 1.1 per cent in early trade following a weak lead from U.S. equities, before paring losses.
The heavyweight financial sector shed 1.2 per cent amid worries about global growth and the economic impact of potential further interest-rate rises. Banks $Westpac Banking Corp(WBC.AU$, $ANZ Group Holdings Ltd(ANZ.AU$, $CommBank(CBA.AU$ and $National Australia Bank Ltd(NAB.AU$ lost between 1.0 per cent and 1.8 per cent.
The energy sector tumbled 2.6 per cent, while consumer discretionary and staples stocks also lost ground. Alcohol and hospitality group $Endeavour Group Ltd(EDV.AU$ shed 2.2 per cent after its 1Q pub revenue fell short of market expectations.
ASX gold miners presented one of the few bright spots in trading on Monday, as investors seeking safe havens sent the price of the commodity higher at the end of last week. Gold eased 0.19 per cent after climbing above $US2000 on Friday for the first time since May.
$Bellevue Gold Ltd(BGL.AU$ gained 1.7 per cent to $1.49 and $Gold Road Resources Ltd(GOR.AU$ firmed 1.1 per cent to $1.91. Dual-listed mining giant $Newmont Corp(NEM.AU$, which listed last week following its takeover of Newcrest Mining, gained 3.1 per cent to $61.34.
RBC Capital Markets' macro rates strategist Robert Thompson said the retail figures were one of the key data series he was watching to get a read on whether the Reserve Bank of Australia's interest rate tightening was having enough effect.
"This will place even more incremental pressure on the RBA to tighten again next week after a surprisingly strong CPI print boosted odds last week," he said.
The RBA will make its next cash rate decision on November 7, following the Bank of England, the Bank of Japan and the US Federal Reserve, which will all hand down decisions this week.
S&P/ASX 200 Movers for Monday (30/10)
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 Monday (30/10)
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, AFR
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