Australian shares are poised to extend their rough start to the week as Wall Street dropped and volatility surged. Tesla sheds 11pc.
: Fund managers with exposure to coal, oil, gas and iron ore dominated the leaderboard, while a leveraged fund took out the top position for five-year returns.General Electric said fresh COVID-19 pandemic-related lockdowns in China as well as the war in Ukraine have exacerbated supply chain disruptions and inflationary pressure, putting its full-year profit outlook at risk and prompting a sell-off in its shares.
UPS reported better-than-expected quarterly earnings but shares fell after executives said they expect e-commerce delivery growth to cool.The pan-Europe STOXX 600 indx closed lower, with technology stocks down 2.3 per cent at six-week lows and banks dropping 2.3 per cent. Among banks, HSBC fell 5.5 per cent after Europe’s biggest bank warned more share buybacks were unlikely this year.
The Hang Seng Index rose 0.3 per cent to 19,934.71, while the China Enterprises Index gained 0.9 per cent to 6747.42 points.: The historic launch of cryptocurrency-backed exchange traded funds in Australia has been delayed at the 11th hour by a powerful prime broker.Investments in Brazil’s mining sector are expected to total $US40.4 billion from 2022 to 2026, a drop when compared with the five years through 2025, leading industry association Ibram said.
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