Hi, You are watching ‘The Opening Bell’. As inflation worries weigh on the markets, let us cast an eye over how market charter is panning out today.
• Gold players Gold Road, Ramelius Resources, Silver Lake and Evolution Mining are inching lower amid gold price downtick ahead of Fed’s meet this week
• On Monday, global equity markets were mixed, while US Treasury yields inched up, as investors waited for the results of a Fed policy meeting before placing any major bets.
• The Dow Jones fell 0.25%, but the S&P 500 gained 0.18%, closing at a record high. Meanwhile, the NASDAQ Composite added 0.74% to close at a record high.
• Australian Energy players such as Woodside Petroleum, Beach Resources, and Origin Energy are trading in green with crude oil reaching multi-year highs. Energy sector is the leading gainer on ASX 200 performance today.
• In a major update, insurance player Suncorp Group announced that it might face losses to the tune of AU$50 million on account of claims from severe weather in Victoria over the weekend.
• Crown Resorts said that Oaktree Capital Management has altered its proposal to help the company buy back a few or all Crown shares held by Consolidated Press Holdings on a selective basis.
• Moving on, global online real estate advertising company REA Group said that it had acquired a 34% interest in Simpology for the broking and lending industries for AU$15 million.
• Then, digital consumer credit business MoneyMe provided a trading update for the month ending 31 May 2021.