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We wanted to let you know that this week, we’ve donated $10,000 to the Australian Red Cross QLD and NSW Floods Appeal to provide vital humanitarian support to the people and communities affected by the 2022 floods. We’re committed to supporting our community through this difficult time and are thinking of those Australians who have suffered catastrophic losses, knowing the journey to rebuild is only beginning for many. To help support the cause, you can donate here: https://www.redcross.org.au/floodsappeal/
Now let’s take a brief look at what happened yesterday. The local market declined 0.8%, weighed down by both the energy and materials sectors, as investors feared that higher energy prices due to Russia’s war in Ukraine would drive inflation higher and hurt the global economy.
Gold miner, St Barbara (ASX:SBM) was the best performer, lifting nearly 13%, supported by the rising gold price, but also due to claims that it could be a takeover target. And healthcare stocks like Imugene (ASX:IMU), Mesoblast (ASX:MSB), CSL (ASX:CSL) and ResMed (ASX:RMD) also performed well. While, the major miners led the losses, even as iron ore prices climbed above $US160 a tonne.
The most traded stocks by Bell Direct clients yesterday included Lake Resources (ASX:LKE) was on top of the list again, along with Rio Tinto (ASX:RIO), Northern Star Resources (ASX:NST), Westpac (ASX:WBC) and ANZ (ASX:ANZ).
US shares continued to fall overnight, as investors try to determine the impact of the Russia-Ukraine war. The Dow fell about 180 points, falling deeper into correction territory, the S&P500 was down 0.72% and the Nasdaq fell 0.28%, falling further into bear market territory.
Despite the negative session over in the US, the futures are suggesting that the Aussie share market is set to open slightly higher this morning.
What to watch today: