ASX 200 closes marginally higher; energy sector leads gain

Highlights:

• The ASX 200 benchmark index closed higher today (19 August 2022), gaining 0.024% to end at 7,114.50 points.
• Over the last five days, the index has gained 1.17%, but is down 4.43% for the last year to date.
• Following consecutive rise in crude oil prices, energy stocks gained on ASX.

Australian share market closed on a positive note today (19 August 2022) with the benchmark S&P/ASX 200 gaining 0.024% to end at 7,114.50 points.

Following consecutive rises in crude oil prices, energy stocks advanced today (August 19). Share price of Newcrest (ASX:NCM), a gold and copper miner, was boosted by earnings beat.

Key pointers from ASX close today

• The ASX 200 benchmark index closed higher today, gaining 0.024% to end at 7,114.50 points.
• Top performing stocks were Santos Limited (ASX:STO) and Whitehaven Coal Limited (ASX:WHC), up 6.36% and 6.20% respectively.
• Bottom performing stocks in this index were TPG Telecom Limited (ASX:TPG) and Inghams Group (ASX:ING), ending 12.39% and 9.43% lower respectively.
• Over the last five days, the index has gained 1.17%, but is down 4.43% for the last year to date.
• Five out of 11 ASX sectors ended the day in green zone.
• Energy was the best performing sector today, gaining 3.96%. The sector has gained 2.81% in last five trading days.
• Materials witnessed 0.82% gains.
• A-REIT was the worst performing sector today, down 1.45%.
• Volatility indicator A-VIX index was down 1.71% at 4.13 PM AEST.
• The All-ordinaries Index gained 0.014%.

Newsmakers

PTB Group (ASX:PTB): PTB Group has entered into a Scheme Implementation Deed (SID) with PAG Holding Corp. under which PAG will purchase all of PAB's shares.

PTB Shareholders will get AU$1.595 in cash for each share, subject to shareholder approval. This is a 40.5% increase over the most recent closing price on August 17.

Meanwhile, PTB shares ended at AU$1.57 apiece, up 36.09% on ASX.

Gold Road Resources Limited (ASX:GOR): Gold Road has agreed to purchase additional interest in shares of De Grey Mining (DEG).

Currently, the firm owns just under 20% of De Grey.

Shares of old Road closed at AU$1.36 each, up 1.49% on ASX.

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Data Source- ASX website dated 19 August 2022

Bond Yields

Australia’s 10-year Bond Yield stands at 3.43% as of 4.26 PM AEST.

In global markets

On August 18, investors seem to have put aside worries about interest rate hikes as benchmark US indexes ended the session higher.

The Federal Reserve may continue with their rate-hike plan, although they would look on the pace while recognising the danger of an economic slowdown, according to the minutes from their July meeting, which were released on Wednesday.

The S&P 500 rose 0.23% to 4,283.74. The Dow Jones was up 0.06% to 33,999.04. The NASDAQ Composite added 0.21% to 12,965.34, and the small-cap Russell 2000 rose 0.67% to 2,000.73.

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Recent economic data showed that fewer Americans were submitting new claims for unemployment benefits, showing that the work sector is still holding up despite a slowdown in the general economy.

The Labor Department said on Thursday that there were 2,000 fewer new claims last week, bringing the total to 250.000.

In Asia, the Asia Dow was down 0.39%, the Hang Seng in Hong Kong lose 0.20%, while Nikkei in Japan and Shanghai Composite in China, dropped by 0.041% and 0.41% respectively at 4.31 PM AEST.

In Commodities markets

Crude Oil WTI was spotted trading at US$89.92/bbl while Brent Oil was at US$96.09.41/bbl at 4.34 PM AEST.

Gold was at US$1756.77 an ounce, copper was at US$3.63/Lbs and iron ore was at US$104.00/T at 4.35 PM AEST.