Hi, you are watching ‘The Opening Bell’. Let us cast an eye over how market charter is panning out today.
• ASX 200 crossed 7300 mark at the market opening, setting a new 52-week high. The top performing stocks in this index at the open were Charter Hall Group and Clinuvel Pharmaceuticals. Elders and Ingenia Communities Group also inched up. While Whitehaven Coal and Mesoblast also recorded gains. Meanwhile, travel players Webjet and Flight Centre are also trading with an uptick. · However, Altium Collins Foods the A2M Milk Company are trading in red zone.
• On Wall Street, the Dow Jones fell 0.36 per cent, while the S&P 500 shed 0.08 per cent. However, the NASDAQ Composite added 0.49 per cent in Monday’s session.
• China's iron ore imports in May fell 8.9 per cent from a month earlier according to official customs data released on Monday.
• Crude oil has risen consistently for the past two weeks, with Brent crude up 38 per cent this year and West Texas Intermediate (WTI) rising 43 per cent .
• Independent provider of connectivity services Superloop has announced it will acquire Australia’s largest independent internet service provider Exetel for $110 million, comprising $100 million in cash and $10 million in Superloop shares.
• Iron ore prices traded lower on Monday as China's subdued trade data for May 2021 and narrowing steel profit margins impacted the market's sentiments about demand prospects for the steelmaking ingredient.