The Opening Bell || Why ASX 200 Turbocharged At The Market Open?

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. 

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