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ASX 200 edges higher, Mesoblast lead the gains

Image Source: © Dimarik16 | Megapixl.com

The Australian share market opened today's trade on a positive note despite a poor show on Wall Street in the overnight trading. The benchmark ASX 200 index traded 0.33% higher at 7,234.90 points in the initial few minutes of trading on Wednesday (1 June). The ASX All Ordinaries index was up 0.26% at 7,474.9 points.

After last week's rally, the three indexes resumed this week's trading on Tuesday, following a public holiday on Monday. The Dow Jones Industrial Average fell 0.67% to 32,990.12, the S&P 500 was down 0.63% to 4,132.15 points, while the Nasdaq Composite dropped 0.41% to 12,081.39 points.

On Tuesday, the benchmark index closed 1.03% lower at 7,211.2 points.

Coming to the top ASX 200 gainers, Mesoblast Ltd. (ASX:MSB) and Nufarm Ltd. (ASX:NUF) led the pack with 2.030% and 1.890% gains, respectively. On the flip side, Origin Energy Ltd (ASX:ORG) and Pilbara Minerals Limited (ASX:PLS) were the top losers, falling 8.030% and 5.763%, respectively.

On the sectoral front, Seven of 11 sectors traded higher in the early morning trading today, where Financial was the best performing sector. Other sectors which led to today's gains include Industrials, healthcare, A-REIT, Consumer discretionary, information technology and telecommunications services.

31^st May 04:59 PM PDT

ASX 200 to fall ahead of GDP data

The Australian share market is expected to fall once again on Wednesday following a poor night of trade on Wall Street as hawkish comments from a US Federal Reserve official dominated investors’ mood. Markets also weighed prospects of higher inflation following a phased ban of Russian oil imports by the European Union, which has lifted crude prices to new highs.

According to the latest SPI futures, the ASX 200 is likely to open 34 points or 0.5% lower. On Tuesday, the benchmark index fell 1% to 7,211.2 points.

Meanwhile, Australia’s first-quarter gross domestic product (GDP) is slated to be released at 11.30 AM (AEST) on Wednesday.

On Wall Street, the Dow Jones fell 0.7%, the S&P 500 dropped 0.6%, and the NASDAQ was down 0.4%.

In Europe, the Stoxx 50 fell 1.4%, the FTSE rose 0.1%, the CAC dipped 1.4%, and the DAX slipped 1.3%.

The MSCI world equity index was down 0.61%.

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ASX 200 edges higher, Mesoblast lead the gains