ASX opens higher; Nuix sinks on CEO departure
Make us a preferred source
Make us a preferred source on Google
More news: Australian shares climbed at the open, tracking gains by US stocks on Friday, as all 11 sectoral indices moved into positive territory. The benchmark S&P/ASX 200 index was up 55 points, or 0.61%, to 9,074 at 10:30am AEDT.
Financials (+1%) was the best performing sector, with each of the big four banks adding between 0.6% and 0.9%. Industrials (0.9%) also rose as Qantas (+1.9%) and Brambles (+1.6%) both rallied.
Gold miner Ramelius Resources was the worst performer on the ASX 200, shedding 8.6% after its first-quarter results missed market estimates.
Fuel retailer Viva Energy (-2.4%) also lowered after reporting a 12.5% drop in quarterly convenience sales.
Outside of the ASX 200, software company Nuix tanked 16.8% on news that CEO Jonathan Rubinsztein will leave the company this week.
Australian shares to rise as inflation data spurs Wall Street relief rally
The news: Australian shares are set to open higher after Wall Street's three main indices reset all-time closing highs on Friday, as cooler-than-expected inflation data reinforced expectations for another interest rate cut when the US Federal Reserve meets this week.
The numbers: Updated at 7:30am AEDT:
- ASX futures: up 25 points, or 0.27% to 9,042
- Wall Street: Dow Jones up 1.01%, S&P 500 up 0.79% and Nasdaq up 1.15%
- Europe: CAC 40 flat, DAX up 0.13% and FTSE 100 up 0.70%
- Spot gold: down 0.34% to USD4,112 per ounce
- Oil prices: Brent down 0.08% at USD65.94/bbl and US WTI down 0.47% to USD61.50/bbl
- AUD: up 0.52% at 65.46 US cents
- Bitcoin: up 1.70% to USD113,531.
The context: The S&P 500 and Nasdaq notched their biggest weekly percentage gains since August after the US Labor Department's consumer price index — delayed due to the ongoing government shutdown — showed cooler-than-expected inflation and raised hopes for a 25-basis-point rate cut when Fed policymakers meet this week.
Third-quarter earnings season will continue on Wall Street this week, with megacaps Meta Platforms, Microsoft, Alphabet, Amazon and Apple all set to report.
Investors will also monitor ongoing trade talks between the US and China, after US Treasury Secretary Scott Bessent and Chinese Vice Commerce Minister Li Chenggang said on Sunday that officials from both countries had reached a preliminary trade framework during talks in Kuala Lumpur.
In the local market, CSL, Woolworths, Wesfarmers and Fortescue will host their annual general meetings this week.
