ASX 200 opens flat; Whitehaven, New Hope gain over 4%

Image Source: © Herrbullermann | Megapixl.com

Highlights

  • Australian shares opened flat on Wednesday.

  • The ASX 200 rose marginally in opening trade, up 3.20 points, or 0.044%, to 7,256.50.

  • On Tuesday, the benchmark index ended 0.3% higher at 7,253.3 points.

Australian shares opened flat on Wednesday following a poor night on Wall Street. Investors cautiously eyed the US Federal Reserve Chair's speech for any hint on the magnitude of interest rate hikes and China's Manufacturing data for November, which are scheduled later today.

The ASX 200  rose marginally in opening trade, up 3.20 points, or 0.044%, to 7,256.50. On Tuesday, the benchmark index ended 0.3% higher at 7,253.3 points.

While the All-Ordinaries index was flat at 7,442, the volatility index surged 0.264% to 12.526. After the first 10 minutes, the ASX 200 benchmark index fell and was trading down 0.17%, or 12.10 points, to 7,241.20.

On Wall Street, the Dow Jones fell 1.45%, the S&P 500 dipped 1.54%, and the NASDAQ ended 1.58% lower.

On Wall Street, the Dow Jones fell 0.0091%, the S&P 500 dropped 0.16%, and the NASDAQ ended 0.59% lower.

In Europe, the Stoxx 50 fell 0.03%, the FTSE gained 0.5%, the CAC rose 0.1%, and the DAX ended 0.2% lower. MSCI's gauge of stocks across the globe shed 0.09%.

Market action

After half an hour, the benchmark index was trading 0.25%, or 17.50 points lower, at 7,235.80.

Whitehaven, New Hope, and News Corporation were the top gainers, gaining 4.8%, 4.1% and 1.7%, respectively. On the other hand, Nanosonics, Imugene, and QBE Insurance were down 3.2%, 2.7% and 2.2%, respectively.

The falls among tech, consumer and healthcare companies were offset by gains in mining stocks.

Newsmakers

  • Temple &Webster said its sales fell 14% from July 1 to November 27.
  • Woodside shares fell again as the oil price retreated on demand worries from China.
  • Rio Tinto plans to invest further AU$600 million in renewable energy assets in Pilbara.
  • Thorn Group reported a net profit of AU$600,000 for the half year ended September 30.


 


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