ASX Update: Miners Lead Rebound Amid Regional Rally

The Market Herald2023-02-28

The share market climbed off a six-week low after northern-hemisphere markets rebounded from last week’s plunge.The S&P/ASX 200 rallied 41 points or 0.57 percent by mid-session. With three hours left ...

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2023-02-28
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With three hours left ...</p>\n\n<a href=\"https://themarketherald.com.au/asx-update-miners-lead-rebound-amid-regional-rally-2023-02-28/\">Source Link</a>\n\n</div>\n","source":"lsy1645078131697","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>ASX Update: Miners Lead Rebound Amid Regional Rally</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nASX Update: Miners Lead Rebound Amid Regional Rally\n</h2>\n\n<h4 class=\"meta\">\n\n\n2023-02-28 10:07 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://themarketherald.com.au/asx-update-miners-lead-rebound-amid-regional-rally-2023-02-28/><strong>The Market Herald</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>The share market climbed off a six-week low after northern-hemisphere markets rebounded from last week’s plunge.The S&P/ASX 200 rallied 41 points or 0.57 percent by mid-session. With three hours left ...</p>\n\n<a href=\"https://themarketherald.com.au/asx-update-miners-lead-rebound-amid-regional-rally-2023-02-28/\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"XJO.AU","symbol_name":"标普/澳交所 200指数","start_time":0,"source_url":"https://themarketherald.com.au/asx-update-miners-lead-rebound-amid-regional-rally-2023-02-28/","article_id":"1111346104","we_media_id":null,"thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1111346104","pubTimestamp":1677550044,"columns":[],"sourceInfo":{"source_id":"lsy1645078131697","name":"The Market Herald"},"weMediaInfo":null,"summary":"The share market climbed off a six-week low after northern-hemisphere markets rebounded from last we","collect":0,"end_time":0,"defaultTopTitle":"themarketherald.com.au","property":[],"viewcount":null,"language":"en","relate_stocks":{"XJO.AU":"标普/澳交所 200指数","XKO.AU":"标普/澳交所 300指数","XAO.AU":"标普/澳交所 普通股指数"},"translate_title":"ASX最新消息：矿商在地区反弹中引领反弹","themeId":"","isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"XAO.AU":0.9,"XJO.AU":0.9,"XKO.AU":0.9},"content_text":"The share market climbed off a six-week low after northern-hemisphere markets rebounded from last week’s plunge.The S&P/ASX 200 rallied 41 points or 0.57 percent by mid-session. With three hours left to trade, the index was on track for a monthly loss of around 2.8 percent.Resource stocks led the advance after a pullback in the US dollar aided commodity prices. Harvey Norman and Adbri sagged as the interim reporting season drew to a close.What’s driving the marketAussie shares joined a regional rebound following overnight gains in US and European stocks. The S&P 500 bounced 0.31 percent from its worst week of the year. The pan-European Stoxx 600 gained 1.07 percent.Up in Asia, the Asia Dow put on 0.46 percent, China’s Shanghai Composite 0.4 percent, Hong Kong’s Hang Seng 0.79 percent and Japan’s Nikkei 0.44 percent.Today’s recovery comes at the end of a challenging month during which a run of stronger-than-expected inflation and economic data forced investors to reassess the likely top of this rates cycle. Equity markets were coming off an exceptionally strong start to the year.February “will go down in history as the month where the market pulled back to digest a very strong rally you saw at the end of December into most of January,” Adam Sarhan, CEO of 50 Park Investments, told CNBC. “This is a pullback month, it’s a rest month, and that’s good as long as support is defended and support holds, which is last week’s low.”Worries about an unexpected collapse in retail sales at the end of last year were salved by news of a rebound last month. Total retail turnover increased 1.9 percent, reversing some of a 4 percent slump the previous month. Economists anticipated a smaller recovery of 1.5 percent.“Looking through this volatility shows that turnover is at a similar level to September 2022, and on average, growth has been flat over the past few months,” Ben Dorber, ABS head of retail statistics, said.Going upMining stocks rebounded with US dollar-denominated metal prices after the greenback pulled back from a seven-week peak. Gold rallied overnight for the first time in six sessions. Copper, nickel and aluminium rose on the London Metal Exchange.De Grey rallied 5.41 percent. West African Resources gained 4 percent. Capricorn Metals added 3.88 percent.Among the heavyweights, Fortescue Metals put on 2.62 percent, Newcrest 1.33 percent and Rio Tinto 1.23 percent,. BHP added 0.99 percent.Record production at Indonesia-focussed Nickel Industries lifted full-year revenues 88.4 percent to US$1.207 billion. Profit expanded 15.3 percent to US$159 million. The share price rallied 2.86 percent.Payments firm Tyro edged up 0.92 percent after posting its first profitable result as a listed company. The company reported a first-half statutory net profit of $1.1 million and positive free cash flow of $0.6 million.Mesoblast firmed 4.84 percent after paring its half-year loss to $41 million from $48.5 million in the prior corresponding period. The biotech had $67.6 million in cash at the end of December.Going downHarvey Norman sank 10.82 percent after warning of a 10.2 percent sales decline at its Australian franchises last month compared to the same period last year. First-half net profit eased to $365.9 million from $430.9 million in the prior corresponding period.Adbri dropped 6.52 percent after scrapping its final dividend and warning costs headwinds will persist this year. The construction materials producer reported a fall in first-half profit to $102.5 million from $116.7 million in the prior corresponding period.NextDC shed 2.59 percent after reporting a first-half loss and a substantial increase in full-year spending. The data centre-as-a-service provider swung to a loss of $2.78 million from a profit of $10.26 million in the prior corresponding period. The company forecast full-year revenues towards the top of previous guidance but raised its capital expenditure outlook from $380-$420 million to $620-$670 million.Gambling group PointsBet slumped 23.02 percent to a near three-year low after its first-half loss blew out to $178.2 million. Group revenues increased 28 percent. Turnover lifted 14 percent.BNPL junior Sezzle dipped 1.44 percent after reporting a full-year net loss of US$38.1 million, an improvement on a US$75.2 million loss in 2021. Total income lifted 16.2 percent last quarter to a record $56.2 million.Surging European energy costs and weaker metal prices helped drag gold and copper miner Sandfire to a first-half net loss of $27.1 million. The miner reported record sales revenues of $431.7 million. The share price declined 1.9 percent.Other marketsUS futures built on last night’s reversal. S&P 500 futures climbed ten points or 0.25 percent.Brent crude edged up nine US cents or 0.1 percent to US$82.13 a barrel.Gold was broadly steady, down 10 US cents or less than 0.01 percent to US$1,824.80 an ounce.The dollar bounced 0.12 percent to 67.48 US cents.","kind":"news","is_publish_news":true,"is_publish_highlight":true,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[{"id":9957788297,"gmtCreate":1677552098219,"gmtModify":1677552101637,"author":{"id":"3564105303063302","authorId":"3564105303063302","name":"ALi_BaBa","avatar":"https://static.tigerbbs.com/d89722c800111c9c885624fce940701f","vip":1,"crmLevel":7,"crmLevelSwitch":0,"idStr":"3564105303063302","authorIdStr":"3564105303063302"},"htmlText":"Like&nbsp;","listText":"Like&nbsp;","text":"Like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9957788297","repostId":1111346104,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"}],"isCommentEnd":false,"newsSizeData":{"likeSize":39,"commentSize":1,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.3","shortVersion":"4.29.3","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/1111346104"}