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Australia
Top Midday Gainers
Sagimet Biosciences (SGMT) said Monday it has priced an underwritten offering of about 29.2 million shares at $6.00 each to raise about $175 million to help fund its clinical trial.Shares soared 43% as intraday trading volume catapulted to over 45.2 million from a daily average of about 516,000.Veradermics (MANE) said Monday part A of its phase 2/3 trial of VDPHL01 oral pill in males with mild-to-moderate pattern hair loss met all primary and all key secondary endpoints with "high" statistical significance.Shares surged 32%, with intraday trading volume of over 2.5 million from a daily average of roughly 446,000.Oruka Therapeutics (ORKA) jumped 16% after the company said Monday almost 64% of patients treated with ORKA-001 achieved the primary endpoint of complete skin clearance at week 16 in a phase 2a trial in moderate-to-severe plaque psoriasis.More than 5.10 million shares traded intraday, compared with a daily average of about 760,000.Price: $8.36, Change: $+2.50, Percent Change: +42.58%
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Australia
Sector Update: Financial Stocks Rise Monday Afternoon
Financial stocks were advancing in Monday afternoon trading, with the NYSE Financial Index increasing 0.4% and the State Street Financial Select Sector SPDR ETF (XLF) adding 0.7%.The Philadelphia Housing Index rose 0.4%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) was decreasing 0.6%.Bitcoin (BTC-USD) was falling 2.4% to $76,783, and the yield for 10-year US Treasuries was rising 3.2 basis points to 4.34%.In corporate news, Citigroup (C) plans to strengthen its investment banking divisions in Japan and China by recruiting upper-level executives to capture additional buyout opportunities, Reuters reported, citing the firm's regional division head, Kaustubh Kulkarni. Citi shares added 0.4%.Goldman Sachs' (GS) Goldman Sachs Alternatives participated as the lead investor in Kashable's $60 million Series C funding round, Kashable said Monday. Goldman Sachs Alternatives participated with up to $50 million, which includes an initial $25 million investment and $25 million to be funded in coming months, subject to conditions, Kashable said. Goldman shares added 0.6%.Oppenheimer (OPY) shares rose 4% after the company said its Oppenheimer & Co. unit agreed to pay $70 million to settle a class-action lawsuit tied to its cash sweep program, avoiding a trial where damages could have exceeded $440 million.
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Sectors
Update: Gold Lower Even as the Dollar Falls Ahead of This Week's U.S. Interest Rate Decision
(Updates prices.)Gold prices were down midafternoon Monday, remaining rangebound even as the dollar fell ahead of the Wednesday interest-rate announcement from the Federal Reserve.Gold for June delivery was last seen down US$42.60 to US$4,698.30 per ounce, remaining within the US$200 range it has been stuck in since the start of the war on Iran, as high oil prices raise concerns over higher inflation and threaten to boost interest rates.The Federal Open Market Committee (FOMC) will make its latest interest-rate decision at the Wednesday afternoon end to its two-day meeting. The CME FedWatch Tool sees a 100% probability the group will leave rates unchanged."Gold remains stuck in neutral within a broad USD 200 range around USD 4,750, with most intraday price action dictated by energy prices and the ebb and flow of headlines from the White House and the Middle East. The FOMC is widely expected to leave rates unchanged on Wednesday," Saxo Bank noted.The dollar was lower, with the ICE dollar index last seen down 0.09 points to 98.44. Treasury yields rose, with the yield on the two-year note up 2.1 basis points to 3.812%, while the 10-year note was paying 4.342%, up 3.5 points.
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