Afternoon update: ASX trading 0.51% higher in a volatile session - Sequoia Direct Pty Ltd

05OctOctober 5, 2023

Afternoon update: ASX trading 0.51% higher in a volatile session

The ASX has seen a recovery in the afternoon, building on its earlier gains, as energy stocks managed to recover somewhat after a sharp drop in oil prices overnight.

The S&P/ASX 200 is trading 0.51 per cent higher at 6,925.50 in a volatile trading session. This rebound followed three consecutive sessions of losses, with the index hitting its lowest level in 11 months on Wednesday.

The SPI futures are up 37 points.

The best-performing sector is REITs, up 1.98 per cent. The worst-performing sector is Energy, down 0.89 per cent.

The best-performing large cap is Northern Star Resources (ASX:NST), trading 4.22 per cent higher at $10.61. It is followed by shares in NEXTDC (ASX:NXT) and Mercury NZ (ASX:MCY).

The worst-performing large cap is IGO (ASX:IGO), trading 3.24 per cent lower at $11.66. It is followed by shares in Aristocrat Leisure (ASX:ALL) and Ampol (ASX:ALD).

Asian markets

Japan's Nikkei has gained 1.18 per cent.
Hong Kong's Hang Seng has gained 0.35 per cent.
China's Shanghai Composite has gained 1.35 per cent.

Commodities and the dollar

Gold is trading at US$1,840.80 an ounce.
Light crude is trading $0.41 higher at US$84.63 a barrel.
One Australian dollar is buying 63.25 US cents.
Copyright 2023 – Finance News Network

Source: Finance News Network

Related Posts

15AprApril 15, 2020

Business confidence and conditions see huge monthly falls: ASX tracking 0.5% higher at noon

14 Apr 2020 - The ASX had a little dip in early morning trade but then rose within the first hour of trading now tracking almost 0.5% higher at noon. Energy companies have opened mixed following the deal among Opec and other oil producing nations to cut crude production. Gold producers are all up. Bega Cheese (ASX:BGA) wins Kraft Heinz legal proceedings.

26OctOctober 26, 2022

Falling yields, slowing economic data and earnings supporting US markets

26 Oct 2022 - Stocks rose for another session Tuesday, a decline in yields contributed to the latest gain and new data for further clues into the health of the U.S. economy. It appears that the market is just starting to get some some indication that economic data moving forward is likely to slow, with the the knock-on effects meaning the aggressive stance of the Fed may ease.

24OctOctober 24, 2019

Wall Street rallied towards the close of trade: ASX poised to open higher

23 Oct 2019 - The ASX looks set to lift at the open. On Wall Street all three major benchmarks had a slight rally towards the end of trade closing higher. Microsoft beat expectations on their earnings and revenue but the stock barely changed. Apple and Boeing shares made gains yesterday. Apple rose 1.1 per cent, it’s felt its new video streaming service will boost revenue. On the commodities front, oil has gained and gold added almost $7.00.

17AugAugust 17, 2023

Stocks fall for a 2nd consecutive day as investors assess the Fed’s July meeting

17 Aug 2023 - Stocks fell Wednesday as investors digested a summary of the Federal Reserve’s July meeting, which hinted at potentially higher rates.

26MarMarch 26, 2020

US stimulus package cause markets to rise for a second day: ASX set to open high

26 Mar 2020 - As the US markets pared their gains, the ASX looks set to open higher this morning. The Dow has jumped in the last two days as the White House and congressional leaders said they had agreed to a $2 trillion stimulus bill to combat the economic slowdown from the coronavirus pandemic. Equities advanced in Europe and on the commodities front, oil has up slightly and gold has dropped over $25. New Zealand electricity company Mercury’s...

24DecDecember 24, 2020

Merry Christmas from FNN: ASX closes 0.3% higher

24 Dec 2020 - The ASX rose at the open on a shortened day of trade to end 0.3% higher. All of the sectors ended higher except for healthcare and utilities. Shares in Credit Corp (ASX:CCP) are up over 19% after the company entered into an agreement to purchase $160 million book of debts from receivables management company, Collection House.

05SepSeptember 5, 2019

CYBG shares plummet on PPI fiasco: ASX tracking 1.01% higher at noon

05 Sep 2019 - The ASX opened higher following positive leads from Wall St and is now tracking 1.01% higher at noon. Shares in CYBG (ASX:CYB) took a huge hit today after they announced they will increase provision for PPI costs. The China Commerce Ministry says that the US and China will have trade consultations in mid Sept. Pilbara Minerals (ASX:PLS) successfully raised a total of $36.5m from institutional and sophisticated investors.

29AprApril 29, 2021

Wall St slips as Fed holds rates: ASX to rise

29 Apr 2021 - The ASX is set to rise despite Wall St dipping into the red. US stocks slipped as the Federal Reserve held rates and maintained their support for the economy. Australian shipbuilder Austal (ASX:ASB) is set to sell 40% of its stake in a shipbuilding company in China.

04FebFebruary 4, 2021

AGL Energy (ASX:AGL) sinks on $2.7 billion write down: Aus shares down 0.7% at noon

04 Feb 2021 - The Australian share market opened slightly lower and continued to sink in early trade after Australia’s trade surplus for December came in weaker than expected. All of the sectors are down except Communications which is only managing to hold gains by the narrowest of margins. AGL Energy (ASX:AGL) issued a $2.7 billion write down for the period ended 31 December 2020.

26JunJune 26, 2020

TPG Telecom (ASX:TPM) spin-off Tuas set to list: Aus shares to open higher

26 Jun 2020 - Following positive leads from US markets, the Australian share market looks set to open higher. The national cabinet is meeting today and will discuss strategies for containing localised outbreaks, a timetable for reopening Australia’s arts and entertainment venues, and the return of international students. S&P Dow Jones Indices announced that TPG Telecom (ASX:TPM) will spin-off 1 share of Tuas (ASX:TUA) for every 2 TPG Telecom shares held.