ASX Preview: Australian Shares Set to Rise as US Shutdown Ends, Gold Surges; Xero Posts Higher Fiscal H1 Earnings, Revenue

MT Newswires Live11-13

Australian shares are poised to rise on Thursday as global markets respond to the imminent end of the longest US government shutdown in history.

Gold prices surged and US Treasury yields slipped ahead of the House vote, raising expectations for fresh economic data and a possible US Federal Reserve rate cut in December.

Overnight, the S&P 500 and the Dow Jones Industrial Average rose 0.1% and 0.7%, respectively, while the Nasdaq Composite fell 0.3%.

In the macroeconomy, the labor force report is due at 11:30 am Sydney time.

In corporate news, Xero (ASX:XRO) reported Thursday fiscal first-half earnings of NZ$0.83 per share on revenue of NZ$1.19 billion, compared with earnings of NZ$0.62 on revenue of NZ$995.9 million a year earlier.

Orica (ASX:ORI) reported Thursday fiscal 2025 earnings of AU$1.118 per share, before individually significant items, on revenue of AU$8.15 billion, compared with earnings of AU$0.864 on revenue of AU$7.66 billion a year earlier.

Australia's benchmark index fell 0.2% or 19.3 points to close at 8,799.50 on Wednesday.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment