Australian Market Modestly Higher

RTTNews | 958 วันที่ผ่านมา
Australian Market Modestly Higher

(RTTNews) - The Australian stock market is modestly higher in choppy trading on Wednesday, extending the gains in the previous session, with the benchmark S&P/ASX 200 moving above the 6,800 level, following the broadly positive cues from global markets overnight, as traders remain cautious and pick up battered stocks at a bargain following the recent market weakness.

The benchmark S&P/ASX 200 Index is gaining 25.40 points or 0.38 percent to 6,804.60, after touching a high of 6,809.10 earlier. The broader All Ordinaries Index is up 26.40 points or 0.38 percent to 7,002.60. Australian stocks ended sharply higher on Tuesday.

Among major miners, BHP Group is losing more than 1 percent, OZ Minerals is down almost 1 percent, Rio Tinto is edging down 0.5 percent and Fortescue Metals is flat, while Mineral Resources is gaining more than 1 percent.

BHP announced a 2 percent rise in first-quarter iron ore production on lower COVID-19 impacts, but left its annual production and cost guidance unchanged.

Oil stocks are lower. Santos and Woodside Energy are losing more than 1 percent each, while Origin Energy is edging up 0.2 percent. Beach energy is slipping more than 4 percent after it announced a quarterly production decline of 8 percent.

In the tech space, Afterpay owner Block and WiseTech Global are edging down 0.3 percent each, while Zip is losing more than 2 percent and Appen is down more than 1 percent. Xero is gaining almost 1 percent.

Among the big four banks, National Australia Bank and ANZ Banking are adding almost 1 percent each, while Commonwealth Bank is edging up 0.4 percent. Westpac is flat after announcing it will close down another 23 branches across Australia.

Among gold miners, Gold Road Resources and Northern Star Resources are edging up 0.1 to 0.4 percent each, while Evolution Mining is edging down 0.4 percent and Newcrest Mining is down more than 1 percent. Resolute Mining is sliding almost 5 percent.

In other news, shares in Chalice Mining are soaring 10 percent after confirming a major extension of its Julimar Nickel-Copper-Platinum Group Element (PGE) Project in Western Australia.

In the currency market, the Aussie dollar is trading at $0.631 on Wednesday.

On Wall Street, stocks gave back some ground over the course of the trading day on Tuesday after surging early in the session, but managed to close firmly positive. The major averages added to the strong gains posted on Monday, further offsetting recent weakness.

The Dow pulled back well off its early high but still ended the day up 337.98 points or 1.1 percent at 30,523.80, its best closing level in almost a month. The Nasdaq advanced 96.60 points or 0.9 percent to 10,772.40 and the S&P 500 jumped 42.03 points or 1.1 percent at 3,719.98.

The major European markets also moved to the upside on the day but closed well off their best levels. While the German DAX Index advanced by 0.9 percent, the French CAC 40 Index rose by 0.4 percent and the U.K.'s FTSE 100 Index inched up by 0.2 percent.

Crude oil prices fell sharply on Tuesday after a volatile session amid uncertainty about the outlook for energy demand. West Texas Intermediate Crude oil futures for November slumped $2.64 or 3.1 percent at $82.82 a barrel.

read more
European Stocks Recover From Early Weakness, Close Broadly Higher

European Stocks Recover From Early Weakness, Close Broadly Higher

European stocks closed higher on Tuesday despite lingering uncertainty about the Trump administration's tariff moves. Investors digested regional economic data, that included a report showing a drop in euro zone inflation, and looked ahead to some crucial reports from the U.S., including non-farm payroll data due later in the week.
RTTNews | 19 นาทีที่ผ่านมา
U.S. Job Openings Unexpectedly Increase In April

U.S. Job Openings Unexpectedly Increase In April

Job openings in the U.S. unexpectedly increased in the month of April, according to a report released by the Labor Department on Tuesday. The Labor Department said job openings climbed to 7.391 million in April from an upwardly revised 7.200 million in March.
RTTNews | 2 ชม. 12 นาทีที่ผ่านมา
U.S. Factory Orders Pull Back Sharply In April

U.S. Factory Orders Pull Back Sharply In April

A report released by the Commerce Department on Tuesday showed a substantial pullback by new orders for U.S. manufactured goods in the month of April. The Commerce Department said factory orders plunged by 3.7 percent in April after surging by a downwardly revised 3.4 percent in March.
RTTNews | 2 ชม. 33 นาทีที่ผ่านมา
Eurozone Inflation Falls Below 2% Target To Boost ECB Rate Cut Hopes

Eurozone Inflation Falls Below 2% Target To Boost ECB Rate Cut Hopes

Euro area inflation fell below the 2 percent target in May largely due to the slowdown in services inflation and reinforced expectations for another interest rate reduction from the European Central Bank later this week. Inflation softened more-than-expected to 1.9 percent in May from 2.2 percent in April, figures from Eurostat revealed on Tuesday. The rate was expected to slow to 2.0 percent.
RTTNews | 3 ชม. 52 นาทีที่ผ่านมา
Swiss Franc Falls Against Majors

Swiss Franc Falls Against Majors

The Swiss franc weakened against other major currencies in the New York session on Tuesday.
RTTNews | 4 ชม. 6 นาทีที่ผ่านมา
Dollar Index Rebounds Amidst Legal Whiplash For Trade Tariffs

Dollar Index Rebounds Amidst Legal Whiplash For Trade Tariffs

The Dollar Index rebounded during the week ended May 30 amidst conflicting court rulings that debated the powers available to President Trump to enforce the reciprocal tariffs on trade partners.
RTTNews | 4 ชม. 41 นาทีที่ผ่านมา
FTSE 100 Up Marginally In Cautious Trade

FTSE 100 Up Marginally In Cautious Trade

After edging up a bit in early trades, the U.K. stock market drifted lower Tuesday morning, but edged up on selective buying and was up marginally nearly half an hour past noon. A downward revision in UK's growth forecast by OECD, and uncertainty surrounding the U.S. Government's tariff moves weigh on sentiment. The OECD has also downgraded its global growth forecast.
RTTNews | 6 ชม. 0 นาทีที่ผ่านมา
Euro Area Jobless Rate Eases To 6.2% As Expected

Euro Area Jobless Rate Eases To 6.2% As Expected

Eurozone unemployment rate fell for the first time in four months in April, in line with expectations, preliminary data from the statistical office Eurostat showed on Tuesday.
RTTNews | 6 ชม. 21 นาทีที่ผ่านมา