May 27 Markets at a glance

The S&P/ASX200 has started the trading week in positive territory snapping a four-session losing streak, with financials and miners leading the charge.

The big four banks are all trading in positive territory, while tech stocks gained ground, tracking their peers on Wall Street.

Gold and energy however are lower, as investors eagerly await the release of April inflation data on Wednesday for any hints on the RBA’s path of policy after the central bank’s May meeting minutes flagged higher inflation risks.

In currencies, the Australian dollar has gathered strength as a holiday in the US and UK sees the US dollar trading in a tight range. 

Stock specific, shares of Lendlease Group (LLC) are the outperformer in today’s session set for the best day since April 2020, if gains hold. It comes after the property and investment company said it will recycle AU$4.5 billion of capital by exiting its overseas business and unveils a AU$500 million on-market share buyback.

Cettire (CTT) shares are also marching higher, as the global luxury online retailer denies media reports it is selling non-genuine products on its platforms. Adding it is not aware of any ACCC investigation into its customer service practice. 

Finally Australian listed shares of gold miner St Barbara (SBM) have taken a hit, as the company cuts its Q4 and FY24 gold production forecast for its Simberi operations.

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