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Australian stock market rises due to broad index gains; Firmus shelving IPO boosts tech stocks

Australian stock market rises due to broad index gains; Firmus shelving IPO boosts tech stocks

Updated to market close Firmus, backed by Nvidia, cancels $5 billion IPO plan; tech stocks see their biggest weekly gain in a week; Benchmark index posts gains for the second consecutive week Jasmeen Ara Islam Shaikh, Reuters, October 9 – Australian stocks rose on Friday as bargain hunters bought shares after a recent benchmark pullback; at the same time, Firmus’s decision to shelve its $5 billion IPO plan triggered an inflow of funds into local software stocks. The benchmark S&P/ASX 200 .AXJO rose 0.6% on Friday to close at 8,716.6 points after two consecutive days of declines. For the week, the index rose 0.4%, posting gains for a second straight week. Globally, comments from US President Trump that the US would pause strikes against Iran ahead of the November midterm elections provided a slight lift to market sentiment. Domestically in Australia, markets are closely watching September quarter inflation data to be released later this month, as well as awaiting the Reserve Bank of Australia’s last two policy meetings of the year in November and December. On the day, tech stocks .AXIJ jumped as much as 3.1% after data center operator Firmus, backed by Nvidia NVDA.O, called off its IPO due to lukewarm market response. Maas Group MGH.AX, a 3.2% shareholder in Firmus, resumed trading after a morning halt and saw its shares plunge as much as 10.7%. David Tuckwell, Chief Investment Officer at ETF Shares, said Firmus’s withdrawal was positive for local tech stocks as it kept fund managers’ money in existing listed shares and avoided forced rebalancing for index funds. He added that after extended selling, valuations in the sector were oversold and now operating on their own momentum. However, weak demand for Firmus indicated that investors preferred enterprises with solid performance, rather than shunning tech stocks entirely. WiseTech Global WTC.AX, Xero XRO.AX, and Life360 360.AX rose 4.2%, 3.5%, and 4.1% respectively. As gold prices edged up, gold miners .AXGD gained 1.9%, the sector's biggest gain in more than two weeks. GOL/ Weighed down by softer iron ore and copper prices, the overall mining index dipped 0.2%. IRONORE/ MET/L Financial stocks .AXFJ rebounded 0.5% after declines over the previous two sessions. Energy stocks .AXEJ edged higher by 0.2%, marking four straight gains despite weaker early oil prices. O/R Across the Tasman Sea, New Zealand’s S&P/NZX 50 index .NZ50 closed up 0.4% at 13,749.35 points. (For the convenience of non-English speakers, Reuters automatically translates its reports into several languages. Due to possible errors or omitted context in automated translations, Reuters does not guarantee the accuracy of such texts and provides them solely for reader convenience. Reuters accepts no liability for any damages or losses resulting from the use of automated translation features.) For more on "Schedules & Data": US earnings calendar RESF/US, Wall Street outlook for the week .N/O, Global economic outlook DATA/ ... See all the latest market headlines and breaking news at NEWS1.

路透社•2026-10-09 05:56
Dow Jones Top Markets Headlines at 9 AM ET: U.S. Futures Slip as Bond Selloff Extends, Oil Prices Rise | U.S. ...

Dow Jones Top Markets Headlines at 9 AM ET: U.S. Futures Slip as Bond Selloff Extends, Oil Prices Rise | U.S. ...

U.S. Futures Slip as Bond Selloff Extends, Oil Prices Rise Stock futures were lower after U.S. markets surged in the previous session on gains made by mega-cap companies. ---- U.S. and European Government-Bond Yields Rise; French Bonds Underperform The global bond selloff resumed Wednesday after a day of relief, with Treasury yields rising and French bonds underperforming yet again. ---- Inside Bessent's Treasury: Tension, Turnover and Unmet Economic Goals Ahead of midterms that could turn on high prices and borrowing costs, the secretary dresses down officials. ---- German Industrial Output Rebounds at Strongest Pace Since Early 2025 Industrial production recovered unexpectedly sharply as manufacturing firms continued to respond to the changeable environment caused by volatile energy prices. ---- IMF Chief Tells Economic Leaders: The Time to Act Is Now Managing Director Kristalina Georgieva said the global economy is caught in a tug of war between an energy shock and an artificial-intelligence boom. ---- Oil Prices Rise as Houthi Attacks, U.S. Gulf Storm Raise Supply Risks Prices rose Wednesday as traders weighed fresh Houthi attacks in Saudi Arabia and storm-related U.S. Gulf production shut-ins against recovering Middle East crude supplies. ---- France's Economy Is Trapped in a Negative Feedback Loop The French government desperately needs a return to strong growth if it is to contain its rapidly rising debts. ---- How to Handle Red-Hot Copper Prices With Care U.S. tariff threats have created copper market distortions that create risks. ---- India's Central Bank Raises Rates For First Time Since 2023 The Reserve Bank of India raised interest rates for the first time in more than three years as the Middle East conflict keeps energy prices high, hurting the rupee and fueling inflation fears. ---- The Case for Buying the Long Bond-and What to Know Before You Do Bond yields are juicy now, and some market mavens believe this is the right time to step in. ---- Wall Street's Record Run Poses Economic Risk to New York

Dow Jones•2026-10-07 13:00
Dow Jones Top Markets Headlines at 7 AM ET: U.S. and European Government-Bond Yields Rise; French Bonds Underperform | German ...

Dow Jones Top Markets Headlines at 7 AM ET: U.S. and European Government-Bond Yields Rise; French Bonds Underperform | German ...

U.S. and European Government-Bond Yields Rise; French Bonds Underperform The global bond selloff resumed Wednesday after a day of relief, with Treasury yields rising and French bonds underperforming yet again. ---- German Industrial Output Rebounds at Strongest Pace Since Early 2025 Industrial production recovered unexpectedly sharply as manufacturing firms continued to respond to the changeable environment caused by volatile energy prices. ---- Stocks Futures Steady as Bond Selloff Extends, Oil Prices Rise U.S. stock futures were little moved after the indexes surged in the last session, as still-higher Treasury yields and a fresh jump in oil prices failed to knock U.S. stock market exuberance. ---- IMF Chief Tells Economic Leaders: The Time to Act Is Now Managing Director Kristalina Georgieva said the global economy is caught in a tug of war between an energy shock and an artificial-intelligence boom. ---- Oil Prices Rise as Houthi Attacks, U.S. Gulf Storm Raise Supply Risks Prices rose Wednesday as traders weighed fresh Houthi attacks in Saudi Arabia and storm-related U.S. Gulf production shut-ins against recovering Middle East crude supplies. ---- France's Economy Is Trapped in a Negative Feedback Loop The French government desperately needs a return to strong growth if it is to contain its rapidly rising debts. ---- How to Handle Red-Hot Copper Prices With Care U.S. tariff threats have created copper market distortions that create risks. ---- India's Central Bank Raises Rates For First Time Since 2023 The Reserve Bank of India raised interest rates for the first time in more than three years as the Middle East conflict keeps energy prices high, hurting the rupee and fueling inflation fears. ---- Inside Bessent's Treasury: Tension, Turnover and Unmet Economic Goals Ahead of midterms that could turn on high prices and borrowing costs, the secretary dresses down officials. ---- The Case for Buying the Long Bond-and What to Know Before You Do Bond yields are juicy now, and some market mavens believe this is the

Dow Jones•2026-10-07 11:00

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