Australian shares in quiet start ahead of two big weeks

[Pelican Press 0]

This is the hidden content, please

• Sign In
• or
• Sign Up

*********** shares in quiet start ahead of two big weeks

The *********** share market has opened quietly for what’s expected to be a volatile two weeks filled with big events across politics, corporate earnings and macroeconomics.

At midday AEDT on Monday, the benchmark S&P/ASX200 index was up 8.4 points, or 0.1 per cent, to 7,219.7, while the broader All Ordinaries had gained 10.3 points, or 0.12 per cent, to 8,477.4.

This week, 278 of the 500 US companies in the S&P500 will report earnings, including US tech titans

This is the hidden content, please

• Sign In
• or
• Sign Up

, Apple, Alphabet,

This is the hidden content, please

• Sign In
• or
• Sign Up

and Nvidia.

Closer to home, on Wednesday the *********** Bureau of Statistics will report important third-quarter inflation data that the Reserve Bank will no doubt closely examine at their next meeting.

Next Tuesday is also the date of the US presidential election.

Meanwhile, the US Federal Reserve’s rate-setting committee will hand down its latest decision on interest rates early next Friday, *********** time.

“Volatility is likely to rise over the week as numbers drop and investors re-position ahead of next week’s major events,” Moomoo market strategist Michael McCarthy said.

At midday five of the ASX’s 11 sectors were higher and five were lower, with telecommunications basically flat.

Tech was the biggest mover, gaining 1.8 per cent as Xero added 2.4 per cent and Wisetech Global climbed 1.2 per cent.

BHP climbed 1.1 per cent as the big *********** reached a settlement with authorities in Brazil over the Samarco dam ******** in 2015, agreeing to pay $R170 billion ($45 billion) in reparations for the disaster that ******* 19 people and flooded nearby towns.

Elsewhere in the sector, Fortescue was up 2.2 per cent and Rio Tinto had gained 1.6 per cent.

The big four banks were mixed, with ANZ and CBA both down 0.7 per cent and NAB dipping 0.3 per cent while Westpac had edged 0.1 per cent higher.

In the energy sector, Paladin had slumped 16.3 per cent to $10.23 after the uranium producer said that it had encountered operational challenges ramping up production at its Langer Heinrich uranium mine in Namibia.

The *********** dollar was buying 65.97 US cents, from 66.25 US cents at Friday’s ASX close.

This is the hidden content, please

• Sign In
• or
• Sign Up

#*********** #shares #quiet #start #ahead #big #weeks

This is the hidden content, please

• Sign In
• or
• Sign Up

This is the hidden content, please

• Sign In
• or
• Sign Up