Hi, you are watching Kalkine TV live from Sydney. This is The Buzzing Trends show. Lets get started with today’s important news that could impact markets.
• Australian stocks declined during early morning hours as sliding commodity prices weighed on resource-heavy sectors, with a weaker finish on Wall Street overnight denting sentiments.
• A salvo of upbeat economic data has bolstered investors’ expectations that the robust economic readings may rekindle taper talks from the US Federal Reserve.
• the Australian equity market continues to face a tussle between inflation concerns and economic optimism, experiencing widespread fluctuations between gains and losses in a single trading day.
• At the same time, concerns loom that the emergence of a fresh coronavirus outbreak in China’s GWANG-ZO can derail the ongoing global economic recovery from the COVID-19 pandemic.
• Shares of the Australian mining sub-index shed gains to post its biggest intraday loss since 19 May 2021.
• The copper prices have plunged as strong U.S. jobs data fuelled concerns that monetary policy could tighten, knocking growth-related assets. Benchmark copper on the London Metal Exchange was down 3.1 per cent .
• ASX-listed heavyweight miners Rio Tinto, BHP Group and Fortescue Metals Group all edged lower .
• Primewest Group edged lower on the board amid accepting the takeover bid and merger proposal from Centuria Capital Group.
• And lastly shares of MLG Oz slumped on prospects of tepid H1 revenue outlook.