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    WDS   AU0000224040

WOODSIDE ENERGY GROUP LTD

(WDS)
  Report
Delayed Australian Stock Exchange  -  12:10 2022-12-02 am EST
35.71 AUD   -2.56%
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SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

Australian shares end lower as cenbank flags rate hikes

09/16/2022 | 02:55am EST

* ASX 200 loses 2.1% this week

* Most sub-indexes drop

* NZX 50 posts worst week in about three months

Sept 16 (Reuters) - Australian shares closed on Friday at their lowest level in more than a week, with miners leading the losses amid tepid iron ore prices, while risk appetite took a hit after the central bank flagged more interest rate hikes to tame inflation.

The S&P/ASX 200 index closed 1.4% lower at 6,747.00 points. The benchmark lost 2.1% this week.

Reserve Bank of Australia (RBA) Governor Philip Lowe said interest rates are closer to normalisation after a successive run of outsized hikes, although he warned rates are still low to bring inflation back to the bank's 2%-3% target range.

"The hope for peaked inflation ignited by the surprising rise in the unemployment rate has been doused entirely by RBA Chair Lowe's speech today," said Hebe Chen, market anaylst at IG markets.

"We can expect rates to stay higher for longer," said Jessica Amir, market strategist at Saxo Capital Markets, adding that the market has priced in a 0.25% hike by the RBA next month.

Miners slipped 2.4% to touch a one-week low, tracking a drop in iron ore prices. The sub-index lost 2.4% for the week.

Rio Tinto, BHP Group and Fortescue Metals slumped between 1.7% and 2.3%.

Financials retreated 0.8% in their fifth straight weekly fall. Commonwealth Bank of Australia and Australia and New Zealand Banking Group shed 0.9% and 0.8%, respectively.

An overnight dip in crude prices dragged Australian energy stocks down 3% in their third consecutive weekly loss. Woodside Energy and Santos fell 2.9% and 2.4%, respectively.

Meanwhile, a raft of U.S. economic data further dented sentiment as it failed to alter the expected course of aggressive tightening by the Federal Reserve.

Data showed that U.S retail sales unexpectedly rebounded in August, while the number of people filing for new claims for unemployment benefits fell to its lowest in more than three months.

In New Zealand, the benchmark S&P/NZX 50 closed 0.7% lower at 11,580.46 points, marking its worst week since June 17.

(Reporting by Upasana Singh in Bengaluru; Editing by Sherry Jacob-Phillips)


ę Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
BHP GROUP LIMITED -1.55% 45.76 Delayed Quote.41.64%
COMMONWEALTH BANK OF AUSTRALIA -1.36% 106.95 Delayed Quote.7.35%
FORTESCUE METALS GROUP LIMITED -1.40% 19.68 Delayed Quote.3.90%
LOWE'S COMPANIES, INC. -0.30% 214.84 Delayed Quote.-16.64%
RIO TINTO PLC -0.25% 5584 Delayed Quote.14.43%
S&P/ASX 200 -0.72% 7301.5 Real-time Quote.0.00%
SANTOS LIMITED -3.77% 7.15 Delayed Quote.17.75%
WOODSIDE ENERGY GROUP LTD -2.56% 35.71 Delayed Quote.67.12%
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Analyst Recommendations on WOODSIDE ENERGY GROUP LTD
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Financials (USD)
Sales 2022 16 684 M - -
Net income 2022 5 463 M - -
Net Debt 2022 2 192 M - -
P/E ratio 2022 7,08x
Yield 2022 11,0%
Capitalization 46 151 M 46 151 M -
EV / Sales 2022 2,90x
EV / Sales 2023 2,84x
Nbr of Employees 3 684
Free-Float 99,6%
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Technical analysis trends WOODSIDE ENERGY GROUP LTD
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Income Statement Evolution
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Mean consensus OUTPERFORM
Number of Analysts 16
Last Close Price 24,31 $
Average target price 25,58 $
Spread / Average Target 5,26%
EPS Revisions
Managers and Directors
Meg OĺNeill Chief Executive Officer, MD & Director
Graham Tiver Chief Financial Officer & Executive Vice President
Richard J. B. Goyder Chairman
Daniel Kalms Executive Vice President-Technical Services
Fiona Hick Executive Vice President-Operations
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