The Australian share market opened lower on Friday.
The ASX 200 index fell 5.10 points to 7.065.90 at the open.
The ASX All Ordinaries index fell 0.061% to 7,320.9.
The Australian share market opened lower on Friday after Wall Street closed on a mixed note in the overnight trade. However, strong oil and iron ore prices are expected to support domestic mining and energy shares during the day.
The ASX 200 index fell 5.10 points to 7.065.90 at the open. The ASX All Ordinaries index fell 0.061% to 7,320.9, while the A-VIX fell 8.132% to 13.703 at the open.
The benchmark index was trading at 7,035.80, down 35.20 points or 0.50% in the first ten minutes of trade. The index has gained 0.72% in the past five days but has declined 5.09% on a year-to-date (YTD) basis.
Global equity indices
In the overnight trade, Wall Street ended mixed, largely weighed by tech shares. The Dow Jones surged 0.1%, the S&P 500 dipped 0.1%, and the NASDAQ fell 0.6%.
In Europe, the Stoxx 50 rose 0.2%, the FTSE fell 0.6%, the CAC surged 0.3%, and the DAX ended 0.1% lower.
On Thursday, the US Treasury yields ended higher with yields of benchmark 10-year notes rising to 2.89%. Similarly, the 30-year bond yield rose 3.17%.
The US dollar index fell 0.114%. On the other hand, euro rose 0.24% to US$1.0322.
Data Source: ASX (as of 12 August 2022, 10:30 AM AEST)
Image Source: © 2022 Kalkine Media®
Tyro Payments was the top loser, while Woodside was the top gainer.
Meanwhile, on the ASX, the fall was led by the tech sector, which was down over 2%, Only energy shares marked an advance, rising over 1%.
- IAG reported a net profit of AU$347 million for the full year against a net loss of AU$427 million in the FY21.
- ResMed’s net income rose by two thirds to US$779.4 million in the financial year that ending June
- BHP and OZ Minerals were in discussions on offtake agreements for the latter’s project in Western Australia. BHP has offered a fresh increased bid of AU$8.4 billion for the entire firm.