ASX 200 opens in green as Wall Street enjoys strong earnings season

Summary

  • The Australian share market has opened almost unchanged on the last day of the week.
  • The A-VIX, measuring the volatility of the Australian equities, is down 4.9%, to 12.097.
  • Sezzle Inc. has more than doubled its merchant sales to US$411 million for the quarter ended 30 June 2021.

The Australian share market has opened with an uptick of 0.1% on the last day of the week, as Wall Street closed higher on the back of robust earnings and an increase in the US economic growth. However, an extended lockdown in New South Wales, Australia continues to cap the gains of the Australian market.

 Image Source: Copyright © 2021 Kalkine Media

On Thursday, US shares surged to record highs supported by strong earnings season and solid economic growth data. However, the Federal Reserve's statement earlier this week that it is not looking to taper stimulus in the near term, puushed the US dollar to a one-month low.

On Thursday, the Dow Jones traded 0.44% up to 35,084.54, while the S&P 500 gained or 0.42% to 4,419.14. The NASDAQ Composite was up 0.11% at 14,778.27.

Read More: Five real estate ASX shares with dividend yields over 5%

How has the market performed so far?

As of 10:30 AM AEST, the ASX 200 is trading 0.19% or 14.3 points higher at 7,431.7. At the same time, the ASX All Ordinaries Index is 0.14% or 10.6 points up at 7,705.8, contributed by Janus Henderson Group PLC (ASX:JHG) and De Grey Mining Limited (ASX:DEG), both surging 6.26% and 2.02%, respectively

Coming to the top contributors of the ASX 200, Janus Henderson Group PLC (ASX:JHG) is leading with a gain of 6.26%, followed by a 2.45% gain in Champion Iron Limited’s (ASX:CIA) share price.

Data Source: ASX Website (30 July 2021, as of 10:30 AM AEST)

On the flip side, Clinuvel Pharmaceuticals Limited (ASX:CUV) is the top laggard, losing 2.69%. Iress Limited (ASX:IRE) secures the second losing spot with a fall of 2.25%. 

                       

The Opening Bell || Here's how Origin and Redbubble pulling down the strings of ASX 200

 

The marker breadth is showing some bearishness in today’s session, with more sectors trading lower. Out of 11, only 4 sectors are in green for the day so far, with the Materials sector gaining the most (0.38%), while the IT sector is the biggest laggard, losing 0.31% in the opening trade. The A-VIX, measuring the volatility of the Australian equities, is down 4.9% to 12.097.

Read More: Banks in focus amidst Australia’s current economic milieu

Newsmakers

Origin Energy Limited (ASX:ORG) expects to incur a massive non-cash post tax charge of AU$2.2 billion for FY21 as the company has written down its energy markets business and a deferred tax liability for its Australia Pacific LNG unit.

AMP Limited (ASX:AMP) has been sued by the Australian Securities and Investment Commission (ASIC). The ASIC has started a civil proceeding against the company in the Federal Court as it estimates over 1500 customers were charged over AU$600,000 in fees for no service.

Image Source: Copyright © 2021 Kalkine Media

Sezzle Inc (ASX:SZL) has more than doubled its merchant sales to US$411 million for the quarter ended 30 June 2021. However, for FY21, the company reported an operating cash loss of US$4.6millioin with US$61 million cash on hand.

Bubs Australia Limited (ASX:BUB) has posted a cash loss of AU$3.4 million for FY21, on sales of AU$3.4 million. The company refrained to provide any specific guidance, putting more emphasis on the uncertainty factor.

Deterra Royalties Limited (ASX:DRR) has reported mining royalties of AU$54.9 million for the quarter ended 30 June 2021. The company expects to garner a total revenue of AU$145.2 million for FY20, including a AU$140.4 million revenue from royalty. 

Read More: 5 ASX stocks going strong in July 2021

Comment


Disclaimer

Ad

GET A FREE STOCK REPORT


Top Penny Picks under 20 Cents to Fit Your Pocket! Get Exclusive Report on Penny Stocks For FREE Now.


   
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it. OK