The Opening Bell || ASX 200 Charts Out Positive Territory; Materials Pulling Up The Strings

Hi, you are watching ‘The Opening Bell’.  Let us cast an eye over how market charter is panning out today. 

• ASX 200 is turbo-charged today, gaining 0.51% to 7330 and setting a new 52-week high. The top performing stocks in this index are Brickworks and Unibail-Rodamco-Westfield

• Brickworks noted that profits for its property trust unit are set to jump up to two-fold in the financial year that ends later this month compared to the prior year. Perenti Global , the mining services group, jumped after winning a $648 million contract to operate a Sandfire Resources mine in Botswana. Overall, materials, healthcare and IT sectors are pulling the ASX strings, while financials and IT are trading in red zone. Well, US stocks saw subdued trade in Tuesday’s session, with all major indices ending flat as inflation worries weighed on the markets. 

• The Dow Jones fell 0.09%, the S&P 500 gained 0.02% and the NASDAQ added 0.31%, with the big tech FAANG stocks leading shares higher. The equity market’s volatility index fell to as low as 15.15, a level not seen since February 2020

• Brent crude rose 73 cents, or 1%, to close at US$72 a barrel, the highest it has settled since May 2019. West Texas Intermediate oil rose 82 cents, or 1.2%, to settle at US$70 a barrel, highest since October 2018. 

•  The mid-tier Australian mining and exploration company Sandfire Resources has awarded the contract for open mining services at its Motheo copper project in Botswana to the Perenti owned African Mining Services. 

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