Australian Shares Trade Higher, BWX Plunges 38% By Investing.com

Australian Shares Trade Higher, BWX Plunges 38%

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By Oliver Gray

Investing.com - The S&P/ASX 200 added 7.6 points or 0.1% to 6,713.6 after the first hour of Tuesday’s trade, extending gains of 1.9% in the previous session as investors attempted to shake off a negative session on Wall Street overnight amid firming bond yields and persisting recession concerns.

ASX 200 Futures lifted 0.3%.

Among stocks, Energy led the gains, up 2.5% collectively as Woodside Energy Ltd (ASX:WDS) lifted 2.2%, Santos Ltd (ASX:STO) added 2.2%, Beach Energy Ltd (ASX:BPT) gained 4.2% and Viva Energy Group Ltd (ASX:VEA) lifted 2.3%.

Materials added 1.7%, with Rio Tinto Ltd (ASX:RIO) up 1%, BHP Billiton Ltd (ASX:BHP) adding 2.1%, Fortescue Metals Group Ltd (ASX:FMG) up 2.6% and Champion Iron Ltd (ASX:CIA) gaining 2.4%.

Consumer Discretionary fell 2.6% with JB Hi-Fi Ltd (ASX:JBH) down 3.5%, Domino's Pizza Enterprises Ltd (ASX:DMP) down 0.7%, Tabcorp Holdings Ltd (ASX:TAH) falling 1.4%, Aristocrat Leisure Ltd (ASX:ALL) dipping 1.2% and Wesfarmers Ltd (ASX:WES) shedding 3.2%.

Information Technology fell 1.1% collectively, with Block Inc (ASX:SQ2) easing 2.6%, Appen Ltd (ASX:APX) falling 5.5%, Megaport Ltd (ASX:MP1) down 3.9% and Link Administration Holdings Ltd (ASX:LNK) losing 1%.

Meantime, BWX Ltd (ASX:BWX) tanked 38.5% after the company announced a fully underwritten $23.2 million capital raise and downgraded earnings guidance.

On the bond markets, Australia 10-Year rates were at 3.8%, while United States 10-Year yields were at 3.192%.

In New Zealand, the NZX 50 added 0.3% to 11,031.5.

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