Australian shares are likely to start the day higher, following gains on Wall Street, despite renewed concerns about China's economy leading to a fall in oil and iron ore prices.
The Australian dollar was trading at 70.2 US cents, after dropping 1.4 per cent overnight.
James Hardie Industries lowered its full-year profit forecast range, citing inflationary pressures globally and uncertainly in the housing market. Stocks extended gains from last week when signs that inflation may have peaked in July increased investor confidence that a bull market could be underway.Gold fell sharply amid sharp declines across precious metals due to a stronger US dollar, with concerns over further rate hikes by the US Federal Reserve adding to pressure on bullion.China's 'slowing trend' weighs on oil prices
China's strict COVID-19 restrictions have hobbled activity at its main manufacturing hubs and popular tourist spots, including Shanghai, even as a deepening downturn continues in the property market.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
JB Hi-Fi hikes dividend, Carsales profit jumps, ASX risesAustralian shares have started the day higher, tracking gains on Wall Street.
Read more »
ASX to rise, US stocks extend mid-year rallyAustralian shares expected to open higher on Wall Street’s bullishness. Reporting on Monday: Beach Energy, Carsales, GWA Group, JB Hi-Fi.
Read more »
ASX to rise, Wall St higher, oil dropsAustralian shares are set to open up, tracking US stocks. Iron ore and oil fell on China’s economic clouds. Reporting on Tuesday: BHP, Challenger, James Hardie.
Read more »
ASX to rise, Wall St higher, oil dropsAustralian shares are set to open up, tracking US stocks. Iron ore and oil fell on China’s economic clouds. Reporting on Tuesday: BHP, Challenger, James Hardie.
Read more »
ASX to rise, US stocks extend mid-year rallyAustralian shares expected to open higher on Wall Street’s bullishness. Reporting on Monday: Beach Energy, Carsales, GWA Group, JB Hi-Fi.
Read more »
Every investing trend misfires as stock bears are crushedEvery investment trend that defined the wild first half of the year on Wall Street is staging a messy reversal in the latest twist of an exhausting year in markets.
Read more »