Australian shares are set to rebound as US tech and bank stocks rallied. CPI data bolster rate rise next week. Bitcoin briefly tops $US26,500.
Market highlightsBitcoin +7.9% to $US25,955 near 4am AEDTTesla +4.8% Apple +1.4% Amazon +1.9%Spot gold -0.3% to $US1908.41/oz near 1pm in New York10-year yield: US 3.62% Australia 3.45% Germany 2.41%Apollo Global Management, Ares Management, Blackstone, Carlyle Group Inc. and KKRCo are among those looking to buy pieces of Silicon Valley Bank, Bloomberg reported. The firms are conducting due diligence on the loan assets ahead of any potential offers, they said.
AMC Entertainment Holdings common stock sank and its preferred shares rallied after investors approved a series of steps that the movie theater operator has said will help it raise cash and reduce debt.Voting at a special meeting on Tuesday, investors backed plans to increase the company’s shares outstanding and implement a 1-for-10 reverse stock split.
The Dutch bank plans to cut the volumes of traded oil and gas it finances by 19 per cent by the end of the decade, it said on Tuesday. ING’s targets are significant in an industry that’s just starting to acknowledge the full scale of its role in facilitating global carbon emissions.
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