ASX 200 closes in green; the energy sector is gaining ground


  • The benchmark ASX 200 index closed in the green today (August 24, 2022), gaining 0.52% to 6,998.10 points.
  • Over the past five days, the index has lost 1.82% and 6.73% over the past 52 weeks.
  • Energy was the best performing sector, gaining 2.84% and 8.83% over the past five days.

The S&P/ASX200 closed higher on Wednesday August 24, gaining 36.30 points or 0.52% to end at 6,998.10 points.

Australian stocks were supported by increases in crude oil, gold, iron ore and copper prices, as well as better-than-expected corporate earnings.

ASX Key Pointers Close Today

  • The benchmark ASX 200 closed higher today, gaining 0.52% to 6,998.10 points.
  • The best performing stocks were Wisetech Global Limited (ASX:WTC) and Iluka Resources Limited (ASX:ILU), up 12.77% and 9.84% respectively.
  • The worst performing stocks in this index were EML Payments Ltd (ASX:EML) and Nanosonics Ltd (ASX:NAN), ending down 10.55% and 5.56% respectively.
  • Over the past five days, the index has lost 1.82% and 6.73% over the past 52 weeks.
  • Seven out of 11 sectors ended the day in the green zone.
  • Energy was the best performing sector, gaining 2.84% and 8.83% over the past five days.
  • Consumer Staples was the worst performing sector today, losing 1.31%.
  • The volatility indicator The A-VIX index rose 1.30% at 4:17 p.m. AEST.
  • The All-ordinaries index gained 0.60%.

The personalities of the news

BrainChip (ASX:BRN): BrainChip reported 529% revenue growth for the six months ending June 30, 2022, to US$4.83 million.

The year-over-year revenue gain is attributed to a four-year cooperation with Japanese company MegaChips and consists mainly of licensing revenue for BrainChip’s Akida technology.

Meanwhile, shares of BrainChip last traded at AU$0.94 per share, down 2.60% on the ASX today.

Viridis Mining and Minerals (ASX:VMM): After obtaining environmental certification from the State Department of Energy and Mines, Viridis Mining and Minerals plans to begin drilling on its Poochera project in South Australia.

Viridis’ exploration program for environmental protection and rehabilitation for the project has received clearance from the South African state government.

Meanwhile, Viridis shares closed at AU$0.28 each today on ASX.

Image source: © 2022 Kalkine Media ®
Data source – ASX website August 24, 2022

Bond yield

The Australian 10-year bond yield stands at 3.64% at 4:23 p.m. AEST.

In global markets

The S&P 500 and Dow Jones continued to fall on Tuesday (Aug. 23), while the Nasdaq held steady, as investors looked for direction ahead of the Federal Reserve’s annual conference in Jackson Hole, Wyoming, later this week.

The S&P 500 fell 0.22% to 4,128.73. The Dow Jones Industrial Average fell 0.47% to 32,909.59. The NASDAQ Composite was unchanged at 12,381.30, while the Russell 2000 rose 0.18% to 1,919.14.

In recent weeks, indices have risen from their June lows as investors scrutinized economic data that indicated inflation had already peaked. The CPI rose 8.5% year-on-year in the previous month, after rising 9.1% in June.

In Asia, the Asia Dow fell 1.28% and the Nikkei in Japan fell 0.46% while the Hang Seng in Hong Kong fell 1.32% and the Shanghai Composite in China fell 0.46%. 1.65% at 4:24 p.m. AEST.

In commodity markets

WTI crude oil was spotted at US$93.94/barrel while Brent oil was at US$100.30/barrel at 4:28 p.m. AEST.

Gold was at US$1,745.72 an ounce, copper at US$3.67/Lb and iron ore at US$105.50/T as of 4:29 p.m. AEST.




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