ASX 200 rises at open; Whitehaven gains over 5%

September 28, 2022 10:41 AM AEST | By Ashish

ASX 200 rises at open; Whitehaven gains over 5% — Image source: © Ptlee | Megapixl.com

Highlights

The Australian shares opened higher on Wednesday.

The ASX 200 index opened 14.40 points, or 0.22% higher at 6,510.60.

The benchmark has shed 2.83% in the past five days.

The Australian share market opened higher on Wednesday despite a mixed closing on Wall Street in overnight trade. Meanwhile, market sentiment has generally been muted in the past few days on expectations of further interest rate hikes by the US Federal Reserve as a section of investors are concerned over the possibility of a recession.

The ASX 200 index opened 14.40 points, or 0.22% higher, at 6,510.60. The benchmark has shed 2.83% in the past five days. It has fallen 10.51% in the past 52 weeks, according to the ASX data.

While the All-Ordinaries index was trading 0.202% higher at 6,710, the volatility index fell 6.178% to 19.88. On Tuesday, the benchmark index closed 0.4% higher at 6,496.2 points.

In the first 10 minutes of trade, the ASX 200 was trading at 6,484.80, up 11.40 points, or 0.18%.

On Wall Street, the Dow Jones fell 0.4%, the S&P 500 dipped 0.2%, and the NASDAQ ended 0.25% higher.

In Europe, the Stoxx 50 fell 0.4%, the FTSE dipped 0.5%, the CAC dropped 0.3%, and the DAX ended 0.7% lower. On the other hand, the MSCI world equity index fell nearly 0.3%. MSCI's broadest index of Asia shares outside Japan was flat on the day.

Market action

After the first half-an-hour, the benchmark index ASX 200 was trading up 0.21%, or 13.50 points, at 6,509.70, with energy and materials leading the sectors, while consumer discretionary, consumer staples and healthcare fell.

Telix shed the most, while Whitehaven gained the most.

Data Source: ASX (as of 28 September 2022, 10:30 AM AEST)

Newsmakers

Bubs has entered a trading halt pending an announcement.
Telix Pharmaceuticals announced a setback in Europe.
Shawn Patrick O’Brien will start his stint as CEO of Mayne Pharma.

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