ASX Set for Lower Open Amid Global Market Volatility
The Australian sharemarket is expected to open slightly lower on Wednesday due to ongoing global market volatility. The S&P/ASX 200 finished Tuesday down just 3.2 points at 9,070, with 6 of the 11 industry sectors closing in the red.
Heavyweights BHP and CSL helped offset falls across the banks, consumer stocks, and gold miners as rising energy prices added to inflation concerns and hopes faded for a near-term resolution to the US-Iran conflict. BHP jumped 2.7% after reporting a 9% increase in full-year profit to $US9.8 billion.
Other companies reporting today include Evolution Mining, Breville, BWP Trust, Mirvac, Fletcher Building, Santos, The Lottery Corporation, and Whitehaven Coal. Investors will be watching another busy session of corporate earnings alongside the latest Wage Price Index data and Reserve Bank of Australia deputy governor Andrew Hauser's speech at a summit in Brisbane.