Australian Stocks Set to Rally After Sharp Selloff
Australian Stocks Set to Rally After Sharp Selloff
Australian stocks are poised to rally at the market open, building on a positive lead from U.S. equities. ASX futures are up 0.6% ahead of Friday's session, pointing to an early rise for the S&P/ASX 200.
The benchmark index is 0.7% lower so far this week, having dropped 1.4% on Thursday amid escalating conflict in the Middle East. Ahead of the open, business lender Judo Capital said it had priced a A$750 million loan securitization that would lift both its tier-one capital ratio and return on equity.
U.S. indices closed at records amid hopes of a Middle East peace settlement. The Nasdaq Composite gained 0.9%, the S&P 500 rose 0.6%, and the DJIA added more than 0.1%.
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