ASX 200 closes higher; AGL's $20bn coal exit plan; Premier shares soar

ASX 200's best day in three months. Calls for RBA to 'ease up' on rate hikes. Govt's east coast gas deal. AGL up on plans to exit coal by 2035. Premier boss says Myer-DJ merger 'doesn't make sense'. Iress shares plunge. 

Equity investors are focused on bond market interventions and currency markets amid financial volatility. Picture: Gaye Gerard

Welcome to the Trading Day blog for Thursday, September 29. The ASX 200 has its best day in three months. Calls for RBA to 'ease up' on rate hikes. Govt's east coast gas deal. AGL up on plans to exit coal by 2035. Premier boss says Myer-DJ merger 'doesn't make sense'. 

The ASX 200 index closes 1.4 per cent higher to 6555.00 with all sectors in the green.

On Wall Street, the S&P 500 closed nearly 2 per cent higher a day after hitting a fresh 2022 low, the technology-focused Nasdaq Composite Index soared 2.1 per cent and the Dow Jones Industrial Average finished 1.9 per cent stronger, snapping a six-day losing streak.

Surprise action by Britain’s central bank to halt a market rout sparked by the new Truss government’s aggressive tax-cut plans, which have been criticised by the IMF and other economists, led to a widespread moves in the bond market. The BoE will buy as many long-dated UK government bonds as needed between now and October 14.

US 10-year bond yields had their biggest one-day drop since 2009 to 3.74 per cent, sliding down after briefly climbing above 4 per cent for the first time in more than a decade. US 2-year yields fell to near 4.13 per cent. 

Australian 3-year bond yields fell to 3.57 per cent and 10-year yields to 3.93 per cent in morning trade.

Oil prices are higher with global benchmark Brent crude up 3.5 per cent to $US89.32 per barrel and the US Nymex crude 4.6 per cent stronger at $US82.15 per barrel.

Iron ore futures fell 0.2 per cent to $US98.52 per tonne and spot gold is up 1.9 per cent to $US1659.98 per ounce.

The Aussie dollar is near US64.54c.