Market Wrap
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Today's Announcements
- The New Zealand fourth quarter GDP will be on watch today, with a consensus calling for a 0.2% drop sequentially.
- Australian employment change for February will be on investors’ radar today. The January unemployment rate unexpectedly rose to 3.7% from 3.5% in the prior month. Another weakened labour market will most likely promote the RBA to turn dovish against the bleeding market backdrop globally.
- The ECB policy meeting will be on close watch today. The central bank was expected to raise the interest rate by another 50 basis points this week. However, the ongoing banking sector’s rout may alter its stance on the aggressive tightening steps.
ASX and NZX Announcements/News
- Fonterra Shareholders Fund lifts guidance, posting a net profit up 50% to $NZ546 million for the second half. It will pay an interim dividend of NZ$10 cents on earnings of NZ33 cents per share.
- BHP Group announced to defend the UK high court proceedings amid compensation for the miner’s alleged failures in the Samarco dam collapse in Brazil.
- Infinity Lithium announced a loss of $$2.3 million after tax for the second half vs. $4.2 million in loss from a year ago. The company’s per-share loss is A$0.56 vs A$1.02 during the same period last year.
Opto Research
(All news & data sourced from Aspect Huntley / AFR / The Australian / Bloomberg / Reuters / CNBC / Wall Street Journal / Morningstar / OPTO / Trading Economics)