ASX 200 rises at open; Virgin Money gains nearly 15%

Image Source: © Herrbullermann | Megapixl.com

Highlights

  • Australian shares opened higher on Tuesday.

  • The ASX 200 gained in opening trade, rising 11.10 points, or 0.16%, to 7,150.40.

  • On Monday, the benchmark index fell 0.2% to 7,139.3 points.

Australian shares opened higher on Tuesday despite Wall Street closing on a weaker note in the overnight trading session.

The ASX 200 gained in opening trade, rising 11.10 points, or 0.16%, to 7,150.40. On Monday, the benchmark index fell 0.2% to 7,139.3 points.

While the All-Ordinaries index rose 0.112% to 7,343.3, the volatility index fell 0.096% to 14.594. After the first 10 minutes of trade, the ASX 200 was trading at 7,171.70, up 32.40 points, or 0.45%.

On Wall Street, the Dow Jones fell 0.13%, the S&P 500 fell 0.39%, and the NASDAQ ended 1.09% lower.

In Europe, the Stoxx 50 fell 0.4%, the FTSE dropped 0.1%, the CAC dipped 0.2%, and the DAX ended 0.4% lower. MSCI's broadest index of world shares fell 0.92%.

Market action

After half an hour, the benchmark ASX 200 index was trading higher by 0.47%, or 33.90 points, at 7,173.20.

Virgin Money, TechnologyOne, and Whitehaven were the top gainers, gaining 14.9%, 4.3% and 2.9%, respectively. On the other hand, Block, Bapcor and De Grey Mining fell the most, down 4.48%, 3.06% and 2.7%, respectively.

Nine of the 11 sectors were trading higher along with the ASX 200 Index. Materials was the best performing sector.

Newsmakers

  • Polynovo has been placed under a trading halt pending an announcement relating to a proposed capital raising.
  • TechnologyOne has posted a 22% rise in net profit to AU$88.8 million for the year to 30 September 2022.
  • Brickworks reported a record underlying net profit of AU$746 million for FY22, up 159% from the prior year.


 


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