ASX Preview: Australian Shares to Rise as Oil Slips on US-Iran Peace Hopes; ResMed Fiscal Q1 Non-GAAP Earnings, Revenue Up

MT Newswires Live10-30 07:07

Australian shares are poised to rise on Friday, tracking a pullback in oil prices as renewed hopes of US-Iran peace negotiations eased concerns over Middle East supply disruptions, although escalating Houthi attacks and ongoing regional security risks are likely to temper gains.

Meanwhile, gold prices fell for a second consecutive month as persistent US inflationary pressures and growing expectations of a December Federal Reserve rate hike weighed on the precious metal.

Overnight, the S&P 500 and the Dow Jones Industrial Average each fell 0.3%, while the Nasdaq Composite declined 1.4%.

In the macroeconomy, Australia's producer price indexes report is due at 11:30 am Sydney time.

In corporate news, ResMed (ASX:RMD) reported Friday fiscal first-quarter non-GAAP earnings of $2.91 per share on revenue of $1.42 billion, compared with non-GAAP earnings of $2.55 on revenue of $1.34 billion a year earlier.

Capstone Copper (ASX:CSC) reported Friday third-quarter adjusted earnings of $0.12 per share on revenue of $712 million, compared with adjusted earnings of $0.06 on revenue of $598.4 million a year earlier.

Australia's benchmark index rose 0.5%, or 44.5 points, to close at 8,891.80 on Thursday.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment