ASX opens flat as Qantas soars; Telix dives 20% on FDA concerns
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More news: Australian shares opened roughly flat as earnings results took Qantas, IDP Education, Eagers Automotive and Generational Development Group to double-digit gains in early trade, while Telix Pharmaceuticals tanked after the US Food and Drug Administration identified supply chain concerns over one of its novel imaging agents.
The benchmark S&P/ASX 200 index was down 1.4 points, or 0.02%, to 8,959.1 at 10:30am AEST. Six of the 11 sectoral indices were in positive territory.
IDP Education (+20.3%), Eagers Automotive (+19.8%), Qantas (+11.9%) and Generation Development Group (+10.7%) were the big winners from this morning's round of financial reports.
Earnings cards from Macquarie Technology Group (-12.4%), Ramsay Health Care (-9.7%) and IGO (-5%) took their shares lower.
Australian shares to edge up ahead of Qantas, Wesfarmers earnings
The news: Australian shares are set to open marginally higher after the main US indices all advanced overnight, as investors braced for Nvidia's second-quarter result which came in after the close.
The numbers: Updated at 7:30am AEST:
- ASX futures: up 3 points, or 0.03%, to 8,938
- Wall Street: Dow Jones up 0.32%, S&P 500 up 0.24% and Nasdaq up 0.21%
- Europe: CAC 40 up 0.44%, DAX down 0.44% and FTSE 100 down 0.11%
- Spot gold: up 0.11% to USD3,397 per ounce
- Oil prices: Brent down 0.36% to USD67.20/bbl and US WTI up 0.96% to USD63.86/bbl
- AUD: up 0.18% to 65.07 US cents
- Bitcoin: up 0.12% to USD111,855.
The context: The S&P 500 hit a new record high close as investors waited for Nvidia's second-quarter earnings. The chipmaker, which makes up around 8% of the benchmark index, released its report after the close, with adjusted earnings per share and revenue coming in above consensus estimates. However, the stock fell 2.3% in after-hours trading.
In the local market, Qantas, Wesfarmers, Medibank, TPG Telecom, Mineral Resources, South32, IGO, Perseus Mining, Atlas Arteria, IDP Education, Perpetual, Ramsay Health Care and Eagers Automotive are among the ASX companies set to report this morning.
The source: Reuters
