Australian shares have opened lower after logging five straight weeks of gains for the first time in more than a year, while weak underlying prices are expected to weigh on domestic commodity stocks.
EML Payments reports gross debit volume of $80.2 billion and revenues of $234.1 million for FY22The ASX 200 was down 67 points or 1 per cent to 7,047 at 10:17am AEST, with almost all sectors down at open.Brent crude oil was down, trading at $US95.58 a barrel, by 10:19am AEST.Magellan lost 9.6 per cent and Block shed 6.5 per cent.
US stocks fell and the dollar rose on Friday, even as Treasury yields gained, with traders anxious about inflation and what the Federal Reserve will do to combat it. Major banks such as JPMorgan Chase & Co, Bank of America Corp, and Deutsche Bank declined more than 2 per cent, a reversal of the sector's late-summer rebound. And an earnings miss by heavy equipment maker Deere & Co added to the risk-off mood.
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