Business
ASX to rise, global equities rally – The Australian Financial Review
Australian shares are poised to open higher, bolstered by a rally in global equities. $A higher. Gold, oil and iron ore advance.
HSBC Holdings surged 8.9% after Chinese insurance group Ping An , the biggest shareholder in the British bank, boosted its stake to 8.00% from 7.95%.
Commerzbank rose 5.6% after it named a top manager at rival Deutsche Bank, Manfred Knof, to lead the bank.
Despite the rally, Guggenheim Partners’ Scott Minerd was wary in a morning tweet: “The worst still lies ahead for risk assets in market correction.”
Bank of America’s technical strategists agree. Although the S&P 500 rallied late last w…
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