ASX opens flat as GrainCorp and Treasury Wine tumble
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More news: The Australian share market opens marginally flat in early trade, dragged lower by energy and consumer staples stocks. The benchmark ASX fell 0.14% or 12.2 points to 8,587.7 at 10:42am AEDT with eight sectors opening in negative territory.
GrainCorp (-15.80%) slumped after selling its Canadian supply chain following a period of challenging financial performance as well as expecting a weaker FY26 supply volume.
Treasury Wine Estate (-11.20%) also tumbled after acknowledging ongoing weakness in its US and China markets.
Real Estate (+0.27%) was the strongest performing sector across the ASX 200, buoyed by Charter Hall Group (+1.17%) and Ingenia Communities (+1.08%).
Energy (-1.42%) was the worst performing sector, dragged lower by Woodside Energy (-2.08%), Ampol (-2.06%), Viva Energy (-3.02%) and Karoon Energy (-3.47%).
Australian shares to open flat as Wall Street dips on mixed jobs data
The news: Australian shares are set to open flat as Wall Street traders assess delayed economic data to gauge the Federal Reserve's policy outlook for next year.
The numbers: Updated at 7:23am AEDT:
- ASX futures: up 2 points, or 0.02%, to 8,601.
- Wall Street: Dow Jones down 0.59%, S&P 500 down 0.31% and Nasdaq up 0.12%.
- Europe: CAC 40 down 0.23%, DAX down 0.63% and FTSE 100 down 0.68%.
- Spot gold: up 0.11% to USD4,311 per ounce.
- Oil prices: Brent down 2.75% to USD58.88/bbl and US WTI down 2.86% to USD55.19/bbl.
- AUD: down 0.10% at 66.35 US cents.
- Bitcoin: up 1.30% to USD87.55.
The context: Major US indices declined on Tuesday after mixed US jobs data release. The S&P500 and Nasdaq declined for the fourth straight session.
The nonfarm payroll showed 64,000 jobs were added in November. However the unemployment rate rose to 4.6%. US retail sales were also flat showing a 0.1% rise in October.
Lower oil prices also weighted on US energy shares, which was the worst performing sector across the S&P 500.
The source: WSJ
