• ASX 200 finished 0.85% higher
  • Tech, Real Estate and Utilities led the sectors
  • Qantas to buy Alliance Aviation for $614m


Rates sensitive sectors like Tech, Real Estate and Utilities led the ASX200 index to a higher close today, as fears of  rapid US rate hikes subsided overnight.

The benchmark index lifted 0.80% as US Fed Chairman Jerome Powell signalled that the Fed’s tightening path would not be as aggressive as first thought.

The Fed increased its benchmark rate by 0.5%, and in a press conference meeting, Powell ruled out the possibility of a 75bp hike anytime soon, saying that it “wasn’t something the committee was actively considering.”

Wall Street reacted positively to the comments, with major US stock indices rallying by over 3% – the best one day gains since May 2020.

Back home, the 10 year Aussie government bonds lost 12 basis points to 3.43% on the Fed move, and the Aussie dollar rallied to US 72.5 cents.

All eleven sectors on the ASX rose today with the exception of Financials, which fell marginally by 0.10%.

Meanwhile, Brent crude has traded back above US$110 a barrel as the EU proposed a phased embargo on Russian oil that could turn into a full ban within six months.

EU President Ursula von der Leyen said overnight: “We now propose a ban on Russian oil. This will be a complete import ban on all Russian oil, seaborne and pipeline, crude and refined.”

“We will make sure that we phase out Russian oil in an orderly fashion, in a way that allows us and our partners to secure alternative supply routes and minimises the impact on global markets.”



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Charter company Alliance Aviation (ASX:AQZ) rose 22% after Qantas (ASX:QAN) reached a deal to acquire it in a $614m deal.

Qantas announced that it planned to buy the remaining 80% of Alliance by issuing new shares valued at approximately $614m.

Alliance shareholders will be offered one Qantas share worth $4.75 for each Alliance share, which is a 32% premium to Alliance’s volume weighted average price for the past three months.

QBE Insurance (ASX:QBE) rose 5% despite warning of a $75m hit from the Russia-Ukraine war. For Q3, the company also reported a 19% in in gross written premiums.

Major tech companies like WiseTech (ASX:WTC) and Brainchip (ASX:BRN) rose by 10% off the back of general positive sentiment on tech stocks today.


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Code Name Price % Change Volume Market Cap
CEN Contact Energy Ltd 7.18 -10.25 18,057 $2,036,369,872
CTT Cettire 3.07 -8.51 2,376,132 $1,277,148,037
LTR Liontown Resources 1.25 -8.09 18,722,621 $3,285,526,258
CMM Capricorn Metals 4.47 -8.02 2,609,627 $1,827,156,731
PLS Pilbara Min Ltd 3.28 -7.08 49,752,832 $10,623,403,190
MMS McMillan Shakespeare 16.89 -6.74 181,568 $1,261,235,165
EMR Emerald Res NL 2.70 -6.25 1,551,126 $1,794,427,857
LFG Liberty Fin Group 3.85 -6.10 6,307 $1,245,595,879
IGO IGO Limited 7.56 -5.85 4,481,363 $6,080,860,538
RMS Ramelius Resources 1.66 -5.43 3,687,423 $1,989,363,213
MCY Mercury NZ Limited 5.70 -5.00 6,443 $8,347,363,434
SLR Silver Lake Resource 1.09 -5.00 3,980,280 $1,074,955,983
PRU Perseus Mining Ltd 1.94 -4.68 5,359,813 $2,788,334,831
IFL Insignia Financial 2.07 -4.61 2,380,436 $1,446,580,054
RED Red 5 Limited 0.36 -4.61 12,116,319 $1,315,631,915
MIN Mineral Resources. 57.35 -4.29 908,699 $11,695,570,766
NST Northern Star 12.36 -4.19 2,418,019 $14,824,952,396
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Fund manager Janus Henderson (ASX:JHG) plunged 13% after its Q1 operating income fell by 45% on pcp, and 21% on the last quarter. Its revenue also declined by US$624m on pcp to US$620m.