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ASX Preview: Australian Shares to Fall After Oil Surge, Fresh Trump Tariffs; Newmont Posts Higher Q2 Adjusted Earnings, Revenue
['Mt Newswires', 'Min Read']
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MT Newswires -ShutterstockAustralian shares are poised to fall on Friday as a surge in oil prices above $100 a barrel stoked concerns over inflation and global economic growth after attacks on Saudi oil tankers in the Red Sea intensified supply disruption fears.
Overnight, the S&P 500, the Nasdaq Composite, and the Dow Jones Industrial Average fell 1.2%, 2.2%, and 1%, respectively.
In corporate news, Newmont (ASX:NEM) reported Friday second quarter adjusted net income of $2.10 per share on revenue of $6.12 billion, compared with adjusted net income of $1.43 on revenue of $5.32 billion a year earlier.
Regis Resources (ASX:RRL) said June quarter gold production was 101,500 ounces at an all-in sustaining cost of AU$3,244 per ounce, with gold sales of 102,400 ounces totaling AU$639 million at an average realized price of AU$6,241 per ounce.
Australia's benchmark index rose 0.2% or 16 points to close at 8,839 on Thursday.