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The ASX200 is set to open slightly higher (0.1%) on Wednesday, tracing an extended rally on Wall Street following the easing of trade tensions between China and the United States.
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US stocks continued to perform strongly overnight after yesterday’s news of a breakthrough in trade negotiations between the two countries after a meeting in Geneva, while softer inflation data also buoyed investors’ confidence, The S&P 500 moved 0.7% higher by the end of the session, reclaiming positive territory for 2025, while the Nasdaq 100 was up 1.6%, driven by a sharp rebound in chipmakers. However, the Dow lagged behind, falling 270 points.
On the ASX, the Commonwealth Bank of Australia (ASX:CBA) said its cash NPAT (net profit after tax) was 6% higher in the third quarter compared to the prior comparative period, at $2.6 billion, while also emphasising higher spending on staff and technology.
Asra Minerals Ltd (ASX:ASR) is set to acquire all of the Mt Cutmore gold project in WA’s Eastern Goldfields, taking on the remaining 49% interest in prospects located at the Mt Stirling Leonora North Project, from its joint venture partners.
And Encounter Resources Ltd (ASX:ENR) has announced an initial inferred niobium mineral resource estimate (MRE) at its Aileron project in Western Australia, with this being 19.2 million tonnes at 1.74% Nb₂O₅ (niobium pentoxide) – from a cut off of 1.0% Nb₂O₅ cut-off.
To commodities – all in US $ here: Iron ore is $99.60 on the Singapore Exchange, gold’s trading at $3250, Brent crude is $66.47 & natural gas is $3.60 a gigajoule.
One Aussie dollar is buying 65 US cents.
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