ASX 200 rises 0.6%; Viva Energy, Eagers Automotive top gainers

2 min read | July 12, 2022 10:47 AM AEST | By Ashish

ASX 200 rises 0.6%; Viva Energy, Eagers Automotive top gainers — Image source: ©Miflippo | Megapixl.com

Highlights

The ASX 200 rose at open on Tuesday.

The benchmark index was supported by gains in energy and healthcare sectors.

The ASX All Ordinaries index rose 0.263% to 6,600.5.

The Australian share market opened higher on Tuesday buoyed by gains in energy and healthcare sectors despite US stocks finishing in the red in overnight trade. The benchmark ASX 200 index rose 9 points or 0.14% to 6,611.20 at the open. The ASX All Ordinaries index rose 0.263% to 6,600.5, while the A-VIX was up 4.327% at 17.961 at open. The index has shed 0.27% in the last five days and 9.85% over the last 52 weeks.

The Australian benchmark index advanced 40.70 points or 0.62% to 6,642.90 in the first 10 minutes of the trade on Tuesday.

Menawhile, on Monday, the benchmark index ended 0.45% higher at 6,678 points.

Global equity indices

Wall Street closed lower in overnight trade as investors were anxious ahead of earnings data, which may drive the US Federal Reserve’s interest rate hike decisions. Additionally, renewed COVID-19 curbs in China are weighing on underlying commodity prices, which may keep domestic miners and gold stocks under check.

On Wall Street, the Dow Jones fell 0.5%, the S&P 500 declined 1.2%, and the NASDAQ ended 2.3% lower. In Europe, the Stoxx 50 fell 1%, the FTSE was flat, the CAC declined 0.6% and the DAX ended 1.4% lower.

Market action

US Treasury yields fell on Monday due to a sell-off on Wall Street amid concerns over muted growth negatively impacting the upcoming corporate earnings. The yield on 10-year notes last fell 11 basis points to 2.99%.

Data Source: ASX (as of 12 July 2022, 10:30 AM AEST)

While Viva Energy (ASX:VEA) and Eagers Automotive (ASX:APE) were the top gainers, Imugene (ASX:IMU) and Life360 (ASX:360) were the top laggards.

Healthcare and Energy were the best performing sectors with a gain of more than 1% each. On the other hand, both Metals & Mining and Information Technology fell over 0.3%.

Newsmakers

Viva Energy announced that it expects underlying group EBITDA to rise 140% in the first half compared to the corresponding period last year.
Eagers Automotive said that its first-half profits are projected to exceed guidance.
Zip and Sezzle have terminated their merger agreement.
Lake Resources has requested the ASX for a trading halt for its shares as it is working on a response to an “online report”.

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