Australian shares settle in red; energy leads gains

2 min read | December 12, 2022 04:23 PM AEDT | By Bhawna Gupta

Australian shares settle in red; energy leads gains — Image source: © Ipopba | Megapixl.com

Key pointers from ASX closing today

Brainchip Holdings Ltd (ASX:BRN) and Megaport Ltd (ASX:MP1) gained the most on the ASX today, moving ahead 7.81% and 4.64%, respectively.
Nanosonics Ltd (ASX:NAN) and Origin Energy Ltd (ASX:ORG) fell 10.12% and 7.95%, respectively.
Over the last five days, the index has lost 1.98% and 2.35% over the last 52 weeks.
Energy was the biggest gainer, advancing 1.17% while utilities and materials fell 4.08% and 1.44% respectively.
The All-Ordinaries Index fell 0.48%.

Newsmakers

QX Resources (ASX:QXR): At its Turner River lithium project in Western Australia, QX Resources has started the first round of drilling.

A novel type of big tonnage hard rock lithium deposit rich in lithium micas is being tested in two places by the first 1500-metre reverse circulation drilling programme. The other area is being tested for lithium-bearing pegmatites.

Grange Resources (ASX:GRR): Grange Resources will be re-buying its joint venture (JV) partner’s 30% interest in the Southdown magnetite project in Western Australia.

To buy SRT Australia's interest in the project, the business entered into a legally binding agreement with its joint venture partner. By doing this, Grange's interest in the Southdown project would effectively reach 100%.

Global markets

According to economists, the Fed will increase its reference rate by 0.5 percentage points. Some observers predict that the central bank will issue another warning that the financial markets are overly confident about a near-term top in this rates cycle.

The S&P 500 lost 0.73% to 3,934.38. The Dow Jones was merely 0.90% down to 33,476.46. The NASDAQ Composite decreased 0.70% to 11,004.62, and the small-cap Russell 2000 fell 1.19% to 1,796.66.

In Asia, the Asia Dow gained 0.69% while Hang Seng in Hong Kong lost 2.22%, Nikkei in Japan fell 0.19% and Shanghai Composite in China decreased by 0.72% at 4.19 PM AEDT.

Bond yields

Australia’s 10-year bond yield stands at 3.38% as of 4.20 PM AEDT.

In commodities markets

Crude Oil WTI was spotted trading at US$71.70/bbl, while brent was at US$76.35/bbl at 4.21 PM AEDT.

Gold was at US$1785.73 an ounce, copper was at US$3.81/Lbs, and iron ore was at US$111.50/T at 4.22 PM AEDT.

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