Good morning and welcome to ASX At Breakfast. IM Rose Jacobs, reporting live from the Kalkine
Studio in Sydney Australia.
The Australian shares are expected to open lower at the open on last day of the week
following mixed closing on Wall Street. However, robust iron ore and oil prices would boost
local mining and energy shares.
The benchmark ASX 200 index is likely to open 19 points or 0.3% lower on Friday morning,
as per the latest ASX Futures. On Thursday, the benchmark index ended 1.1% higher at 7,071
points.
Meanwhile, ResMed Inc (ASX:RMD) and Insurance Australia Group Ltd (ASX:IAG) are among the
ASX-listed firms which are scheduled to announce their earnings on Friday.
ECargo Holdings LTD announced today it has sold its 100% interest in digital commerce
consultancy subsidiary, Amblique PTY Ltd to Commercial Group LTD, in the form of a Management
buyout led by Amblique Chief Executive Officer, Stephanie Byrne, for a total cash consideration
of $5 m AU.
Amblique offers e-commerce set up and optimisation services to brands primarily in Australia.
The sale of Amblique provides additional capital for eCargo to invest in equity in Australian
brands that have high potential to grow in China and advance its e-commerce ecosystem
through development of its technology platforms.
Larvotto Resources Ltd today announced drilling at its 100% owned Mt Isa copper project will
commence this week at the high priority Blue Star Gospel and Portal Creek Targets in Queensland.
The company also provided updates in relation to exploration programs being carried out
across the companies Australian and New Zealand portfolio of projects.
Now it’s time for as short break – but stay tuned for more news, set to effect the
trading day.
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Welcome back to the ASX at Breakfast Report. Taking a quick look first up at the global
markets.
Global markets
In the US, the major stock indices fell, dragged down by tech shares. The Dow Jones surged
0.1%, the S&P 500 dipped 0.1%, and the NASDAQ fell 0.6%. On Thursday, the US producer prices
(PPI) unexpectedly declined for the month of July amid a dip in the cost of energy products.
In Europe, the Stoxx 50 rose 0.2%, the FTSE fell 0.6%, the CAC surged 0.3%, and the DAX
ended 0.1% lower.
Treasury yields
The S&P 500 and NASDAQ closed in the red while Treasury yields gained amid signs of softening
US inflation. US Treasury yields rose on Thursday. Benchmark 10-year notes’ yields rose 2.89
on Thursday. Similarly, the 30-year bond yield surged 3.17%. The dollar, which fell 1% on
Wednesday on the prospect of a more dovish Fed, pared losses on Thursday after likely
gaining some support from the Fed officials' commentary. The US dollar index dropped 0.114%,
while the euro rose 0.24% to US$1.0322.
Oil prices rise
Oil prices rose on Thursday after the International Energy Agency (IEA) hiked its oil demand growth
forecast for the year 2022.
WTI crude finished up 2.6% at US$94.34 per barrel.
Brent closed at AU$99.60, up 2.3%.
Gold price dips
Gold prices fell on Thursday after traders sold gold amid likelihood of further interest
rate hikes by the US Federal Reserve despite signs that inflation was peaking.
Spot gold fell 0.3% to US$1,787.61 an ounce.
Meanwhile, the most-traded iron ore, for delivery in January next year, on China's Dalian Commodity
Exchange closed 2.3% higher at 741 yuan (US$109.98) a tonne.
Well that’s all for our ASX at Breakfast report this morning here at Kalkine TV. Have
a great day trading and stay tuned for more market updates and economic news live throughout
the day. I’m Rose Jacobs, see you shortly.
and welcome back to the asx at breakfast report taking a quick look first up at the global
markets in the u.s the major stock indices fell drowned down by tech shares the dow jones
surged 0.1 the s p 500 dipped 0.1 percent and the nasdaq fell 0.6 on thursday the u.s
producer prices or ppi unexpectedly declined for the month of july amid a dip in the cost
of energy products in europe the stocks 50 rose 0.2 percent the ftse fell 0.6 the cac
surged 0.3 and the dax ended 0.1 percent lower treasury yields the s p 500 and nasdaq closed
in the red while treasury yields gained amid signs of softening us inflation u.s treasury
yields rose on thursday benchmark 10-year notes yields rose 2.89 on thursday and similarly
the 30-year bond yield surged 3.17 the dollar which fell one percent on wednesday on the
prospect of a more dovish fed paired losses on thursday after likely gaining some support
from the fed officials commentary the us dollar index dropped 0.114 percent while the euro
rose 0.24 to u.s 1.0322
quick look at oil prices now and oil prices rose on thursday after the international energy
agency hiked its oil demand growth forecast for the year 2022 wti crude finished up 2.6
at us 94.34 per barrel brent closed at 99.60 australian up 2.3 percent and gold prices
fell on thursday after traders sold gold amid likelihood of further interest rate hikes
by the u.s federal reserve despite signs that inflation was peaking spot gold fell 0.3 percent
to us
1787.61 an ounce meanwhile the most traded iron ore for delivery in january next year
on china's dalian commodity exchange closed 2.3 higher at 741 yuan that's us 109.98 a
ton well that's all for our asx at breakfast report this morning here at calkin tv have
a great day trading and stay tuned of course for more market updates and economic news
live right throughout the day i'm rose jacobs see you shortly