ADVANCED SHARE REGISTRY Stocks rose Tuesday as investors focused on a fresh slate of earnings reports. The Dow Jones Industrial Average gained 204 points, or 0.6 per cent. The S&P 500 added 0.7 per cent, and the Nasdaq Composite climbed 0.9 per cent.
Coca-Cola reported earnings and revenue that topped estimates, sending the stock up 2.8 per cent. Spotify, meanwhile, popped 10 per cent after the audio streaming giant posted third-quarter results that beat expectations. General Motors shares ticked down 2.3 per cent following better-than-expected third-quarter results. The company pulled its full-year outlook amid rising costs due to the United Auto Workers union strikes, however.
Alphabet and Microsoft are among companies that posted results after the market closed. Alphabet reported an 11 per cent growth in revenue, marking its return to double-digit growth for the first time in over a year, with both sales and profit surpassing analysts' expectations; however, the stock declined in after-hours trading due to disappointing cloud revenue. Microsoft's net income jumped 27 per cent. The company's Azure cloud revenue growth accelerated after two years of deceleration. The shares have jumped as much as 5 per cent in extended trading. Other tech names reporting this week include Amazon and Meta.
European markets closed higher. London's FTSE added 0.20 per cent, Frankfurt gained 0.54 per cent, and Paris closed 0.63 per cent higher. Turning to Asian markets, Tokyo's Nikkei added 0.20 per cent, Hong Kong's Hang Seng fell 1.05 per cent while China's Shanghai Composite closed 0.78 per cent higher.
Turning to commodities, Anthony Albanese plans to increase the Critical Minerals Facility funding to $4 billion, aiding projects facing financing challenges and boosting jobs in clean energy, manufacturing, and defence supply chains. This move follows talks with US officials, American and Australian miners, and processors, as part of efforts to strengthen critical minerals cooperation between the two nations. China is increasing its strategic cobalt stockpiles, with the National Food and Strategic Reserves Administration purchasing around 3,000 tons of cobalt after discussions with producers and traders in Beijing, aiming to capitalise on a more than 60 per cent drop in global cobalt prices since May last year, driven by increased supplies from countries like the Democratic Republic of Congo and Indonesia.
| Dow Jones | 33,141.38 | +204.97 | +0.62% |
|---|---|---|---|
| US S&P 500 | 4,247.68 | +30.64 | +0.73% |
| US Nasdaq | 13,139.88 | +121.55 | +0.93% |
| UK FTSE 100 | 7,389.70 | +14.87 | +0.2% |
RECENT INDIAN OCEAN SECURITIES TRANSACTIONS
| Balkan Mining Minerals Limited (ASX:BMM) | Mining Exploration Sector | IPO at $0.20 | Price Change from IPO Investment: + $0.175 / 85.50% |
|---|---|---|---|
| Smart Auto Australia Limited (NSX:SAL) | Electric Commercial Vehicles Sector | IPO at $0.10 | Price Change from IPO Investment: + $0.10 / 100% |
| Azure Health Technology Limited (NSX:VTL) | Health Technology | IPO at $0.20 | Price Change from latest Investment entry: - 0.05 / 25% |
| Albion Resources Limited (ASX:ALB) | Diversified Metals & Mining | IPO at $0.20 | Price Change from latest Investment entry: - $0.015 / 7.5% |
| Sprintex Limited (ASX:SIX) | Auto Parts & Equipment | IPO at $0.086 | Price Change from latest Investment entry: - $0.013 / 15.12% |
| Jadar Resources Limited (ASX:JDR) | Diversified Metals & Mining | Private Placement at $0.03 | Price Change from latest Investment entry : - $0.007 / 23.33% |
| Krakatoa Resources Limited (ASX:KTA/KTAOC) | Gold Sector | Private Placement at $0.06 | Price Change from latest Investment entry : - $0.008 / 13.33% |
| PYX Resources Limited (NSX:PYX) | Diversified Metals & Mining | IPO at $0.40 | Price Change from latest Investment entry: + $0.76 / 190% |
| Cokal Limited (ASX:CKA) | Steel Sector | Funding at $0.04 | Price Change from latest Investment entry: + $0.036 / 90% |
| Cyclone Metals Limited (ASX:CLE) | Steel Sector | Placement: at $0.0017 | Price Change from latest Investment entry: + $0.0073 / 429.41% |
| Food Revolution Limited (ASX:FOD) | Packaged Foods & Meat | Placement at $0.035 | Price Change from latest Investment entry : - $0.0007 / 20% |
| Synertec Corporation Limited (ASX:SOP) | Technology Sector | Placement at $0.023 | Price Change from latest Investment entry: + $0.077 / 334.78% |
| Douugh Limited (ASX:DOU) | Wireless Telecommunications Services | Placement at $0.020 | Price Change from latest Investment entry: + $0.074 / 370% |
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The information provided was based on information available at the time of publishing. We believe that the information in this report is correct and any opinions, conclusions or recommendations are reasonably held or made as at the time of its compilation, but no warranty is made as to accuracy, reliability or completeness. To the extent permitted by law, neither Advanced Share registry (ABN 14 127 175 946) nor any of its subsidiaries accept liability to any person for loss or damage arising from the use of this report. The report has been prepared without taking account of the objectives, financial situation or needs of any particular individual. For this reason, any individual should, before acting on the information in this report, consider the appropriateness of the information, having regard to the individual's objectives, financial situation and needs and, if necessary, seek appropriate professional advice. This report does not purport to be a complete statement or summary.
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Advanced Share Registry Limited published this content on 25 October 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 25 October 2023 02:52:03 UTC.
