Mining and information technology are trading weak, while healthcare and consumer discretionary stocks are finding fairly good support. Energy and financial stocks are exhibiting a mixed trend.
The benchmark S&P/ASX 200 index, which advanced to 4,867.3 in early trades, is currently down 5.4 points at 4,846.7. The broader All Ordinaries index is down 4.6 points at 4,934.7, well off an early high of 4,955.
On Friday, the S&P/ASX 200 index ended down 32.1 points or 0.6 percent at 4,852.1, while the All Ordinaries index closed at 4,939.3, recording a loss of 33.1 points or 0.6 percent.
Lynas Corporation, Oz Minerals, Origin Energy, Aristocrat Leisure, Amcor, Leighton Holdings, Computershare and Alumina are trading lower by 1 to 2.75 percent.
Meanwhile, Paladin Energy, News Corporation, MAP Group, QBE Insurance, Boral, Connecteast, Sonic Healthcare, Duet Group and James Hardie Industries are in positive territory with notable gains.
Woolworths Ltd. shares are up nearly a percent, after the company said third-quarter food and liquor sales in Australia grew 4.6 percent on higher prices for items such as bananas after recent floods devastated crops. The company has also reaffirmed full year earnings guidance.
In the currency market, the Australian dollar opened higher and was quoting at US$1.0564 in early trades, up notably from Friday's close of US$1.0523.
Among other markets in the Asia-Pacific region, Malaysia and New Zealand are trading modestly higher, while Japan and South Korea are trading weak. Markets across the region ended mostly lower on Friday.
On Wall Street, stocks moved higher on Friday after showing a lack of direction earlier in the session. The markets benefited from largely upbeat economic news, which overshadowed some disappointing quarterly results.
The major averages all ended the day in positive territory, although off their highs for the session. The Dow rose 56.7 points or 0.5 percent to 12,341.8, the Nasdaq edged up 4.4 points or 0.2 percent to 2,764.7 and the S&P 500 climbed 5.2 points or 0.4 percent to 1,319.7.
Major European markets moved to the upside on Friday. The French CAC 40 index ended up 0.1 percent, while the U.K.'s FTSE 100 index and the German DAX index gained 0.5 percent and 0.4 percent respectively.
Crude oil prices rose on Friday on encouraging reports on U.S. consumer confidence and industrial production. Light, sweet crude for May delivery ended up US$1.55 at US$109.66 a barrel on the New York Mercantile Exchange. For the latest updates PRESS CTR + D or visit Stock Market news Today
No comments:
Post a Comment