The S&P/ASX 200 tested its August 13, 2021, record high, reaching 7624.80 in the early session on Wednesday, but closed flat. The Australian dollar gained strength against the US dollar, holding above US74c through the day.
Ramsay Health Care shares rallied more than 25% after it confirmed in a statement to the ASX that KKR is in talks to acquire Australia’s biggest private hospital operator. KKR made an indicative and non-binding offer of $88 a share to acquire Ramsay Health Care.
Rio Tinto said its Australian iron ore exports slumped 8% below the same period of last year to 71.5 million tonnes. Shares were more than 2% lower.
US futures are lower and markets across Asia are mixed. The NZX 50 closed up 1.1%.
US earnings are in focus this week, Netflix shares dumping 25% after the streaming company reported a loss of 200,000 subscribers during the first quarter. It's the first time the company has reported a subscriber loss in more than a decade.
Tesla is due to report its first-quarter earnings on Thursday. There has been a lot happening around the electric car maker lately, and CEO Elon Musk is staying in the spotlight with his tweets on Twitter. Tesla has reportedly delivered 310,000 in the first three months, a 68% jump YoY, suggesting the industrial pioneer may amaze markets with another record result. However, risks remain with ongoing disruptions to the supply chain, rising energy costs, and production suspension due to China’s lockdown.
AUD/USD stronger US74.20c
WTI steady US$103.41 a barrel
Brent crude oil steady US$108.89 a barrel
Spot gold lower US$1940.83 an ounce
Bitcoin steady US$41,382
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