The Dow Jones Industrial Average closed higher overnight as traders digested better-than-expected corporate earnings. The Dow notched its seventh straight day of gains and its longest winning streak since March 2021. All three major averages had their highest closes since April 2022.

Bank of America reported better-than-expected earnings for the second quarter, thanks to higher interest rates. Bank of New York Mellon's earnings also exceeded expectations. Shares of both banks gained more than 4 per cent. Morgan Stanley stock added 6.4 per cent after a beat on both revenue and adjusted earnings per share, driven by record revenue in its wealth management segment. PNC Financial advanced 2.5 per cent on the back of mixed second-quarter numbers.

In mining-related news, gold mining behemoth, Newmont, has received clearance from Canada's regulator for its acquisition of ASX-listed, Newcrest Mining, moving closer to completing the transaction in Q4/2023 while awaiting approvals in other jurisdictions.

European markets closed higher. London's FTSE added 0.64 per cent, Frankfurt rose 0.35 per cent, and Paris closed 0.38 per cent higher. Turning to Asian markets, Tokyo's Nikkei added 0.32 per cent, Hong Kong's Hang Seng lost 2.05 per cent while China's Shanghai Composite closed 0.37 per cent lower.

Gold gained 1.32 per cent. Silver added 1.03 per cent. Copper dropped 0.29 per cent. Oil gained 2.12 per cent.

Dow Jones
34,951.93
+366.58
+1.06%
US S&P 500
4,554.98
+32.19
+0.71%
US Nasdaq
14,353.64
+108.69
+0.76%
UK FTSE 100
7,453.69
+47.27
+0.64%

RECENT INDIAN OCEAN SECURITIES TRANSACTIONS

Balkan Mining Minerals Limited (ASX:BMM)
Mining Exploration Sector
IPO at $0.20
Price Change from IPO Investment: + $0.175 / 85.50%
Smart Auto Australia Limited (NSX:SAL)
Electric Commercial Vehicles Sector
IPO at $0.10
Price Change from IPO Investment: + $0.10 / 100%
Azure Health Technology Limited (NSX:VTL)
Health Technology
IPO at $0.20
Price Change from latest Investment entry: - 0.05 / 25%
Albion Resources Limited (ASX:ALB)
Diversified Metals & Mining
IPO at $0.20
Price Change from latest Investment entry: - $0.015 / 7.5%
Sprintex Limited (ASX:SIX)
Auto Parts & Equipment
IPO at $0.086
Price Change from latest Investment entry: - $0.013 / 15.12%
Jadar Resources Limited (ASX:JDR)
Diversified Metals & Mining
Private Placement at $0.03
Price Change from latest Investment entry : - $0.007 / 23.33%
Krakatoa Resources Limited (ASX:KTA/KTAOC)
Gold Sector
Private Placement at $0.06
Price Change from latest Investment entry : - $0.008 / 13.33%
PYX Resources Limited (NSX:PYX)
Diversified Metals & Mining
IPO at $0.40
Price Change from latest Investment entry: + $0.76 / 190%
Cokal Limited (ASX:CKA)
Steel Sector
Funding at $0.04
Price Change from latest Investment entry: + $0.036 / 90%
Cyclone Metals Limited (ASX:CLE)
Steel Sector
Placement: at $0.0017
Price Change from latest Investment entry: + $0.0073 / 429.41%
Food Revolution Limited (ASX:FOD)
Packaged Foods & Meat
Placement at $0.035
Price Change from latest Investment entry : - $0.0007 / 20%
Synertec Corporation Limited (ASX:SOP)
Technology Sector
Placement at $0.023
Price Change from latest Investment entry: + $0.077 / 334.78%
Douugh Limited (ASX:DOU)
Wireless Telecommunications Services
Placement at $0.020
Price Change from latest Investment entry: + $0.074 / 370%

This information has proudly been provided by Indian Ocean Securities -www.indianoceansecurities.com. Indian Ocean Securities is a Boutique Australian Financial Services licensee firm (AFSL: 336409), providing tailored strategic advice and corporate finance solutions to a select, high net-worth/ wholesale, Institutional and corporate clients, throughout the Asian and Australian Financial markets.

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The information provided was based on information available at the time of publishing. We believe that the information in this report is correct and any opinions, conclusions or recommendations are reasonably held or made as at the time of its compilation, but no warranty is made as to accuracy, reliability or completeness. To the extent permitted by law, neither Advanced Share registry (ABN 14 127 175 946) nor any of its subsidiaries accept liability to any person for loss or damage arising from the use of this report. The report has been prepared without taking account of the objectives, financial situation or needs of any particular individual. For this reason, any individual should, before acting on the information in this report, consider the appropriateness of the information, having regard to the individual's objectives, financial situation and needs and, if necessary, seek appropriate professional advice. This report does not purport to be a complete statement or summary.

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Advanced Share Registry Limited published this content on 19 July 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 19 July 2023 07:16:06 UTC.