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ASX rises 0.37% at noon as rates fears subside

PUBLISHED

2023-10-06

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At noon, the S&P/ASX 200 is 0.37% higher at 6,951.40.

The SPI futures are pointing to a rise of 19 points.

Best and worst performers

The best-performing sector is Financials, up 1.24 per cent. The worst-performing sector is REITs, down 0.78 per cent.

The best-performing large cap is QBE Insurance Group (ASX:QBE), trading 2.28 per cent higher at $15.495. It is followed by shares in Evolution Mining (ASX:EVN) and Aristocrat Leisure (ASX:ALL).

The worst-performing large cap is IGO (ASX:IGO), trading 3.11 per cent lower at $11.21. It is followed by shares in Wesfarmers (ASX:WES) and Allkem (ASX:AKE).

Asian news

Asian markets were mixed as investors look ahead to U.S. jobs data that could set the tone for the Federal Reserve’s next move for interest rates.
In Japan, the Nikkei 225 and Topix slipped 0.14% and 0.09% respectively.
Hong Kong’s Hang Seng index is looking at a climb, with futures at 17,344 compared to the HSI’s close of 17,213.87.
China’s markets remain closed for the weeklong holiday.
Overnight in the U.S., all three major indexes slipped slightly as the Dow Jones Industrial Average shed 9.98 points, or 0.03%, to close at 33,119.57. The S&P 500 dipped 0.13% at 4,258.19, and the Nasdaq Composite traded down 0.12% to end at 13,219.83

Company news

Magellan Financial Group (ASX:MFG) Reported that in September MFG had experienced net outflows of $2.0 billion, which included net retail outflows of $0.3 billion and net institutional outflows of $1.7 billion, Shares are trading 12.6 per cent lower at $7.71.

Haranga Resources (ASX:HAR) announced they have identified new uranium anomalies at the Company’s Sanela Prospect ahead of drill planning. Haranga Managing Director Peter Batten commented “These results from Sanela are timely as they come close on the heels of our first Mineral Resource Estimate at the Saraya Prospect within our Saraya Project”. Shares are trading 11.43 per cent higher at 19.5 cents.

Green Technology Metals (ASX:GT1) GT1 a Canadian focused multi-asset lithium business has provided an exploration update across the eastern hub at its 100% owned projects in Ontario Canada.Highlights include; Confirmation of additional LCT pegmatite outcrops across the now 100% owned Junior Lithium Project, A Renewed Exploration Agreement executed with Whitesand First Nation solidifying support for exploration activities across there Seymour, Falcon, and Junior projects and Significant lithia grade up to 3.23% Li2O returned from rock chip samples with visible Spodumene mineralisation. Shares are trading flat at 40.5 cents.

Talga Group Ltd (ASX:TLG) announced they have successfully intercepted wide zones of graphite in the first drilling of a 6km long zone of strong electromagnetic conductors up to 300 metres wide at its Swedish Vittangi Project. Shares are trading flat $1.17.

Commodities and the dollar

Gold is trading at US$1835.30 an ounce.
One Australian dollar is buying 63.68 US cents.

 

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