ASX 200 rises; Brambles surges on CVC bid and Citi cuts Wesfarmers outlook
ASX climbs as industrials and tech stocks rise. Citi cuts Wesfarmers, China production plunges, Brambles surges on CVC bid, Coopers ups guidance and ATO launches crypto crackdown.
Welcome to the Trading Day blog for Monday, May 16. The Australian share market rose for a second straight session, buoyed by gains in industrials and tech stocks. It comes as Brambles surges on CVC approach and Citi downgrades Wesfarmers.
The S&P/ASX 200 closed 0.3 per cent higher to 7093 with eight of the 11 sectors in the red.
That’s after the Dow Jones Industrial Average jumped 1.5 per cent on Friday, buoyed by the Federal Reserve’s reassurance that a 75 basis point interest rate hike was not under consideration.
The S&P 500 added 2.4 and the tech-heavy Nasdaq jumped 3.8 per cent.
Among commodities, global oil prices advanced 4 per cent, amid a surge in US gasoline prices. US Nymex crude added 4.1 per cent to $US110.49 a barrel while Brent gained 3.8 per cent to $US111.55.
And iron ore added 0.6 per cent to $US130.93 a tonne.
ASX sets record close despite pullback; HMC confirms Healthscope talks
David Di Pilla-led HMC eyes Brookfield-owned hospitals operator. Cochlear falls on trimmed guidance. Dividend disappointment weighs on AMP. GFG Alliance puts NSW coal mine on the block in debt plan. Mirvac soars on return to profit.
ASX steady as miners gain; CBA rises, IAG down
Sigma gains as $300m worth of shares change hands. Alliance Aviation's labour costs growing after first industrial action in two decades. IAG top loser as investors miss buyback. Temple & Webster top gainer. 'Cleaner result' sees ASX Ltd soar.