ASX 200 opens lower; Pilbara, Allkem fall over 6%

November 15, 2022 10:37 AM AEDT | By Ashish

ASX 200 opens lower; Pilbara, Allkem fall over 6% — Image source: © Herrbullermann | Megapixl.com

Highlights

Australian shares opened lower on Monday.

The ASX 200 fell in the opening trade, dropping 12.80 points, or 0.18%, to 7,133.50.

On Monday, the benchmark index closed 0.15% lower at 7,146.3 points.

Australian shares opened lower on Monday after Wall Street closed in the red in the overnight trade. The ASX 200 fell in the opening trade, dropping 12.80 points, or 0.18%, to 7,133.50. On Monday, the benchmark index closed 0.15% lower at 7,146.3 points.

While the All-Ordinaries index fell 0.152% to 7,339, the volatility index fell 0.099% to 16.197. After the first ten minutes of trade, the ASX 200 was trading at 7,125.20, down 21.10 points, or 0.30%.

On Wall Street, the Dow Jones fell 0.63%, the S&P 500 dipped 0.89%, and the NASDAQ ended 1.12% lower.

In Europe, the Stoxx 50 rose 0.5%, the FTSE gained 0.9%, the CAC surged 0.2%, and the DAX ended 0.6% higher. MSCI's gauge of stocks across the globe gained 0.17%.

Market action

After half-an-hour, the benchmark index ASX 200 was trading down 0.28%, or 19.70 points, at 7,126.60. Energy and Materials declined over 1.4%, while Consumer Staples, Health Care, and Financials surged.

Incitec, Treasury Wine, and Elders were the top gainers, rising 6.9%, 3.4%, and 2.7%, respectively. On the other hand, Pilbara, Allkem, and Core Lithium fell the most, down 6.2%. 6.2%, and 6.1%, respectively.

Newsmakers

Sunland Group announced a fully-franked special dividend of 60 cents a share to be paid on 7 December.
United Malt Group expects a material rise in earnings in financial year 2023.
Life360 has reported its largest ever quarterly monthly active user (MAU) growth in Q3.
Commonwealth Bank reported a rise in its first-quarter cash profit of 2% to AU$2.5 billion.

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