ASX Preview: Australian Shares to Rise on Gold Gains; Capstone Copper Q2 Adjusted Earnings, Revenue Up
Australian shares are poised to rise on Friday, supported by gains in gold prices and a weaker US dollar after easing inflation data reduced expectations for further Federal Reserve rate hikes.Overnight, the S&P 500, the Nasdaq Composite, and the Dow Jones Industrial Average rose 1.7%, 2.8%, and 1.2%, respectively.In the macroeconomy, Australia's producer price indexes data is due at 11:30 am Sydney time.In corporate news, Capstone Copper (ASX:CSC) reported Friday second quarter adjusted earnings of $0.13 per share on revenue of $739.7 million, compared with adjusted earnings of $0.04 on revenue of $543.2 million a year earlier.DPM Metals (ASX:DPM) reported Friday second quarter adjusted basic earnings of $0.95 per share on revenue of $361.5 million, compared with adjusted basic earnings of $0.52 on revenue of $186.5 million a year earlier.Australia's benchmark index fell 0.8%, or 70.9 points, to close at 8,967.70 on Thursday.