Australian Market Sharply Lower

RTTNews | 1020 days ago
Australian Market Sharply Lower

(RTTNews) - The Australian stock market is sharply lower on Wednesday, giving up most of the gains in the previous session, with the benchmark S&P/ASX 200 falling below the 6,800 level, following the broadly negative cues from global markets overnight, with traders cautiously awaiting the US Fed's rate decision and anticipated hawkish comments from Fed Chair Jerome Powell later today.

The benchmark S&P/ASX 200 Index is losing 78.40 points or 1.15 percent to 6,728.00, after hitting a low of 6,724.50 earlier. The broader All Ordinaries Index is down 80.20 points or 1.14 percent to 6,949.80. Australian stocks ended sharply higher on Tuesday.

Among major miners, BHP Group and Fortescue Metals are losing more than 2 percent each, while Rio Tinto is declining almost 3 percent and Mineral Resources is down more than 1 percent. OZ Minerals is flat.

Oil stocks are lower. Santos, Woodside Energy and Beach energy are losing almost 1 percent each, while Origin Energy is declining more than 1 percent.

In the tech space, Afterpay owner Block is losing more than 4 percent, Appen is down more than 1 percent and Zip is slipping almost 4 percent, while Xero and WiseTech Global are declining more than 2 percent each.

Among the big four banks, ANZ Banking and Westpac are losing more than 1 percent each, while National Australia Bank and Commonwealth Bank are declining almost 1 percent each. Among gold miners, Resolute Mining is losing more than 1 percent, Gold Road Resources is slipping almost 2 percent, Newcrest Mining is sliding 2.5 percent, Evolution Mining is plunging more than 4 percent and Northern Star Resources is declining more than 2 percent.

In the currency market, the Aussie dollar is trading at $0.669 on Wednesday.

On Wall Street, stocks showed a notable move back to the downside during trading on Tuesday following the advance seen going into the close of Monday's session. With the pullback on the day, the major averages fell to their lowest closing levels in two months.

The major averages climbed off their lows of the session in late-day trading but remained firmly negative. The Dow tumbled 313.45 points or 1.0 percent to 30,706.23, the Nasdaq slumped 109.97 points or 1.0 percent to 11,425.05 and the S&P 500 dove 43.96 points or 1.1 percent to 3,855.93.

The major European markets also moved to the downside on the day. While the U.K.'s FTSE 100 Index slid 0.6 percent, the German DAX Index slumped by 1.0 percent and the French CAC 40 Index tumbled by 1.4 percent.

Crude oil prices fell sharply on Tuesday amid concerns about interest rate hikes and worries about the outlook for energy demand. West Texas Intermediate Crude futures for October ended lower by $1.28 or 1.5 percent at $84.45 a barrel on expiration day.

read more
FTSE 100 Trades Below The Flatline

FTSE 100 Trades Below The Flatline

Persisting tensions on the trade front and growing concerns over U.K.'s fiscal outlook dampened sentiment and dragged down the FTSE 100 to negative territory.
RTTNews | 1h 9min ago
Domino's Pizza's Online $9.99 Offer Of Any Pizza With Any Toppings On July 7- Aug. 3

Domino's Pizza's Online $9.99 Offer Of Any Pizza With Any Toppings On July 7- Aug. 3

Domino's Pizza Inc., the largest pizza company in the world, announced its "Best Deal Ever' promotion, offering any pizza with any toppings for $9.99 each when they order online between July 7 and August 3. Domino's $9.99 deal includes Hand Tossed, Handmade Pan, New York Style, Gluten Free and Crunchy Thin Crust, as well as an assortment of sauces and toppings.
RTTNews | 1h 14min ago
CAC 40 Gains Amidst Trade Jitters

CAC 40 Gains Amidst Trade Jitters

Despite trade related uncertainties, the CAC 40 benchmark that tracks the 40 largest French stocks based on the Euronext Paris has gained more than a quarter percent on Tuesday.
RTTNews | 1h 39min ago
Eurozone Retail Sales Drop For First Time In 5 Months; Services Output Fall

Eurozone Retail Sales Drop For First Time In 5 Months; Services Output Fall

Euro area retail sales decreased for the first time in five months and services production declined in May, suggesting a slowdown in the second quarter. Retail sales logged a monthly fall of 0.7 percent in May, reversing April's 0.3 percent increase, Eurostat reported Monday. Sales were expected to drop 0.8 percent. Another data from Eurostat showed that services production decreased 0.3 percen
RTTNews | 2h 22min ago
Cautious Optimism Lifts DAX

Cautious Optimism Lifts DAX

The DAX benchmark that tracks the performance of the 40 largest companies listed on the Frankfurt Stock Exchange is trading in the green zone on Monday amidst a mood of cautious optimism.
RTTNews | 3h 26min ago
Nissan Stock Slips On Reports Of Talks With Foxconn To Collaborate On EV Production In Japan

Nissan Stock Slips On Reports Of Talks With Foxconn To Collaborate On EV Production In Japan

Japanese automaker Nissan Motor Co Ltd. (NSANF.PK, NSANY.PK) is in talks with Taiwan's electronics major Foxconn to partner on the production of electric vehicles or EVs in Japan, Nikkei reported. The potential joint venture collaboration is expected to save Nissan's Oppama plant from the risk of closure. Following the news, Nissan Motor shares closed Monday's trading in Tokyo down 5%.
RTTNews | 3h 29min ago
Eurozone Investor Confidence Strongest In More Than 3 Years

Eurozone Investor Confidence Strongest In More Than 3 Years

Eurozone investor confidence rose to the highest level in more than three years in July suggesting that fears of recession triggered by the US tariff shocks are completely off the table, survey data from the behavioral research institute Sentix showed on Monday. The investor confidence index advanced to 4.5 in July from 0.2 in June. The reading was the highest since February 2022 and also stayed
RTTNews | 4h 10min ago