Australian shares are set to open higher, in line with a rebound from this week’s tech sell-off in New York. BHP, Rio rally. Iron ore up 1 per cent. $A up.
: The dismantling of AMP Capital made strategic sense, but it has removed $200 million in earnings that underpinned AMP’s advice and banking businesses.LPL Financial’s Ryan Detrick said as disappointing a month April has been for US equities, all is not lost. “Many investors forget that double-digit declines during a year are actually normal. After only one 5 per cent pullback all of last year, markets have provided an unfriendly reminder in 2022.
“Our view is that this headwind will keep blowing until mid-2023, sustaining the relative pressure on big tech.”In addition, Higgins said there’s “ample room” for earnings to miss still elevated expectations too.unveiled $US2.7 billion in charges and added costs across its aircraft portfolio, and expressed doubts over hitting jet delivery targets as technical problems, inflation and supplier risks cloud its path toward recovery.
German shares, which underperformed through the session, rallied at close. Deutsche Bank’s 5.6 per cent slide after warning that the Russia-Ukraine conflict could hurt full-year results, capped gains. The blue-chip CSI300 index jumped 2.9 per cent to 3895.54, after touching its lowest since April 2020 in morning trade. The Shanghai Composite Index gained 2.5 per cent to 2958.28.
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