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Highlights:
- The ASX 200 benchmark index closed up today (26 August), gaining 0.79% to end the day at 7,104.10 points.
- Over the last five days, the index is virtually unchanged, but is down 4.57% for the last year to date.
- Telecom Services was the worst performing sector today, losing 0.31%.
The S&P/ASX200 closed higher on Friday (26 August), gaining 56.00 points or 0.79% to end at 7,104.10 points.
Following China's stimulus announcement on Wednesday (26 August), iron ore prices jumped which in turn helped the shares of BHP, Fortescue Metals, and Rio Tinto. Trading updates from Wesfarmers, Bega Cheese, and Lynas Rare Earths also helped the market.
Key pointers from ASX close today
- The ASX 200 benchmark index closed up today, gaining 0.79% to 7,104.10 points.
- Top performing stocks were Bega Cheese Limited (ASX:BGA) and Viva Energy Group Ltd (ASX:VEA), up 12.03% and 7.79% respectively.
- Bottom performing stocks in this index were Polynovo Limited (ASX:PNV) and Appen Limited (ASX:APX), ending 17.33% and 6.09% lower respectively.
- Over the last five days, the index is virtually unchanged, but is down 4.57% for the last year to date.
- 10 out of 11 sectors ended the day in green zone.
- Energy was the best performing sector, gaining 1.32%.
- Telecom Services was the worst performing sector today, losing 0.31%.
- Volatility indicator A-VIX index was down 4.56% at 4.20 PM AEST.
- The All-ordinaries Index gained 0.74%.
Newsmakers
Lynas Rare Earths (ASX:LYC): Lynas shared its financial results for 2022 today (26 August). The company informed that its profit increased by 244% and revenue is doubles.
The company's revenue increased by 88% to AU$920 million from AU$489 million the previous year.
Meanwhile, shares of Lynas closed trading at AU$9.03 per share, up 1.23% on ASX today.
Patrys (ASX:PAB): The Victorian government has awarded Patrys (PAB) a AU$100,000 Victorian Medical Research Acceleration Fund (VMRAF) grant through the Olivia Newton-John Cancer Research Institute (ONJCRI).
The award will be used to fund research into the possibility of incorporating PAT-DX1 and PAT-DX3 into new treatments for metastatic breast cancer.
Meanwhile, shares of Patrys closed trading at AU$0.026 per share, up 8.33% on ASX today.
Image Source: © 2022 Kalkine Media ®
Data Source- ASX website dated 26 August 2022
Bond yield
Australia’s 10-year Bond Yield stands at 3.60% as of 4.37 PM AEST.
In global markets
US markets closed higher on Thursday, August 25, led by advances in technology firms, as investors shifted their attention to the Federal Reserve's annual economic meeting in Jackson Hole.
This week, domestic issues triumphed over fears about US interest rates. A US-led fear over the topic of Federal Reserve Chair Jerome Powell's speech tonight brought western markets to multi-week lows before buyers stepped in. In expectation of a rebound, the S&P 500 gained 1.41% to 4,199.12 overnight.
The Dow Jones was up 0.98% to 33,291.78. The NASDAQ Composite added 1.67% to 12,639.27, and the small-cap Russell 2000 rose 1.52% to 1,964.64.
In Asia, the Asia Dow was up 2.05% and Nikkei in Japan jumped 0.57%, the Hang Seng in Hong Kong increased by 0.69% while Shanghai Composite in China decreased by 0.36% at 4.51 PM AEST.
In commodities markets
Crude Oil WTI was spotted trading at US$93.80/bbl while Brent Oil was at US$100.29/bbl at 4.51 PM AEST.
Gold was at US$1756.19 an ounce, copper was at US$3.734/Lbs and iron ore was at US$106.50/T at 4.52 PM AEST.
