ASX opens higher as SiteMinder soars; Domino's, WiseTech and Woolies sink
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More news: Australian shares opened marginally higher as this morning's round of earnings results saw SiteMinder, Tabcorp and Lovisa rocket, while Domino's, WiseTech Global and Woolworths tumbled.
The benchmark S&P/ASX 200 index was up 14.1 points, or 0.16%, to 8,949.7 at 10:30am AEST. Seven of the 11 sectoral indices were in positive territory.
Hotel commerce company SiteMinder (+24%) led gains on the ASX 200, after trimming its full-year loss. Gambling company Tabcorp (+17.6%), jewellery retailer Lovisa (+8.8%) and media group Nine Entertainment (+7.9%) were also sharply higher after posting financial results this morning.
Meanwhile, investors dumped pizza chain Domino's (-16%), software giant WiseTech (-13.7%) and supermarket group Woolworths (-11.4%) following disappointing earnings reports.
Australian shares to rise as Wall Street shrugs off Trump’s Fed turmoil
The news: Australian shares are poised to open higher as the main US indices all advanced overnight, after futures were briefly sent lower following US President Donald Trump's move to sack Federal Reserve governor Lisa Cook over alleged mortgage fraud.
The numbers: Updated at 7:30am AEST:
- ASX futures: up 46 points, or 0.51%, to 8,941
- Wall Street: Dow Jones up 0.30%, S&P 500 up 0.41% and Nasdaq up 0.44%
- Europe: CAC 40 down 1.70%, DAX down 0.50% and FTSE 100 down 0.60%
- Spot gold: up 0.82% to USD3,394 per ounce
- Oil prices: Brent up 0.07% to USD66.75/bbl and US WTI down 2.30% to USD63.31/bbl
- AUD: up 0.13% to 64.94 US cents
- Bitcoin: up 0.99% to USD111,285.
The context: Late on Monday Trump announced he would remove Cook over alleged mortgage fraud, prompting unease among investors about any potential impact the firing could bear on the Federal Reserve's September meeting.
Meanwhile, tech megacap Nvidia added 1.1% ahead of its highly anticipated second-quarter results, due Thursday morning AEST.
Drugmaker Eli Lilly climbed nearly 6% after the company said its experimental GLP-1 pill helped overweight adults with type 2 diabetes shed 10.5% of body weight in a late-stage trial. Earlier this month, Eli Lilly saw USD100 billion ($153.5 billion) wiped from its market value in a single session after results from a separate obesity pill study showed lower-than-expected weight loss.
In the local market, Woolworths, WiseTech Global, Nine Entertainment and Sigma Healthcare are among the ASX companies due to report their full-year results this morning.
