Global Markets:
- Asian Stock Markets : Nikkei up 1.05%, Shanghai Composite up 0.22%, Hang Seng up 1.38% ASX up 0.77%
- Commodities : Gold at $3,691.62 (0.49%), Silver at $42.682 (1.26%), Brent Oil at $65.87 (-0.75%), WTI Oil at $61.85 (-0.83%)
- Rates : US 10-year yield at 4.032, UK 10-year yield at 4.6110, Germany 10-year yield at 2.6505
News & Data:
- (USD) Core CPI m/m 0.3% to 0.3% expected
- (USD) CPI m/m 0.4% to 0.3% expected
- (USD) CPI m/m 2.9% to 2.9% expected
- (USD) Unemployment Claims 263K to 235K expected
Markets Update:
The Australian stock market is extending gains in Friday’s mid-session trades, rebounding from the previous day’s losses after broadly positive cues from Wall Street overnight. The benchmark S&P/ASX 200 has moved past the 8,850 mark, supported by strength in mining and technology stocks, while energy counters remain the main laggard.
The S&P/ASX 200 Index is up 64.90 points, or 0.74 percent, at 8,869.90, after touching 8,887.60 earlier. The broader All Ordinaries Index is gaining 63.70 points, or 0.70 percent, to 9,135.90. Australian shares had closed slightly lower on Thursday.
In the mining space, BHP is up more than 1 percent, Mineral Resources is advancing over 2 percent, Rio Tinto is rising nearly 1 percent and Fortescue is edging 0.4 percent higher. Gold miners are also mostly firmer, with Evolution and Resolute climbing more than 1 percent, Northern Star and Gold Road up nearly 1 percent, and Newmont adding close to 2 percent.
Energy stocks are weighing on the market. Beach Energy is slipping almost 3 percent, Origin is down 0.1 percent, while Woodside and Santos are losing more than 1 percent each.
Technology stocks are advancing, led by Appen up more than 4 percent and WiseTech gaining nearly 2 percent. Among major banks, CBA, NAB and ANZ are rising more than 1 percent each, while Westpac is up 1.5 percent.
BSP Financial shares are surging over 10 percent after assurances from Papua New Guinea’s prime minister regarding government account services. The Australian dollar is trading at $0.666.
Upcoming Events:
- 02:00 PM GMT – USD Prelim UoM Consumer Sentiment
- 02:00 PM GMT – USD Prelim UoM Inflation Expectations
