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Gold Rises 1%; Accenture Shares Surge After Q3 Results

Published 20/06/2024, 17:00
© Reuters.  Gold Rises 1%; Accenture Shares Surge After Q3 Results

Benzinga - by Avi Kapoor, Benzinga Staff Writer.

U.S. stocks traded mostly higher midway through trading, with the Dow Jones gaining over 50 points on Thursday.

Following the market opening Thursday, the Dow traded up 0.17% to 38,898.96 while the NASDAQ rose 0.01% to 17,864.13. The S&P 500 also rose, gaining, 0.09% to 5,491.81.

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Leading and Lagging Sectors

Energy shares jumped by 1.5% on Thursday.

In trading on Thursday, real estate shares fell by 0.2%.

Top Headline

Shares of Accenture Plc (NYSE:ACN) gained around 7% during Thursday's session after the company reported third-quarter fiscal 2024 results.

The company posted sales of $16.47 billion compared with the analyst consensus of $16.55 billion, down 1% Y/Y in U.S. dollars and up by 1.4% in local currency. Revenues were slightly above the midpoint of the company's guided range of $16.10 billion – $16.70 billion. Adjusted EPS of $3.13 missed the analyst consensus of $3.15.

Accenture expects fourth-quarter revenues of $16.05 billion – $16.65 billion (versus consensus of $16.56 billion).

Equities Trading UP

  • MGO Global, Inc. (NASDAQ:MGOL) shares shot up 154% to $1.1672 after the company said it expects the pending acquisition of Spetner Associates to close in the second half of 2024, projecting it to increase annualized revenue to approximately $28 million.
  • Shares of Zapp Electric Vehicles Group Limited (NASDAQ:ZAPP) got a boost, surging 147% to $3.42 after the company said it expects first customer deliveries of the i300 in the fourth quarter and anticipates selling over 5,000 units in the fiscal year ending Sept. 30, 2025.
  • Femasys Inc. (NASDAQ:FEMY) shares were also up, gaining 23% to $1.17 after receiving CE Mark approval from the EU MDR for its FemaSeed, FemVue, FemCerv, and FemCath products.
Equities Trading DOWN

  • Tempest Therapeutics, Inc. (NASDAQ:TPST) shares dropped 27% to $2.0847 after the company announced new data from the ongoing Phase 1b/2 clinical study on amezalpat2 (TPST-1120).
  • Shares of Trevena, Inc. (NASDAQ:TRVN) were down 37% to $0.226. Trevena announced preclinical TRV045 data for long-term analgestic effect in prelinical model of neuropathic pain. Also, the company announced TRV045 results provided director for additional NIH-initiated studies in epilepsy prevention and treatment.
  • Sonnet BioTherapeutics Holdings, Inc. (NASDAQ:SONN) was down, falling 29% to $1.10. Sonnet BioTherapeutics announced exercise of warrants for gross proceeds of $3.4 million.
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In commodity news, oil traded up 0.9% to $82.34 while gold traded up 1.1% at $2,371.90.

Silver traded up 3.8% to $30.69 on Thursday, while copper rose 1.9% to $4.5755.

Euro zone

European shares were higher today. The eurozone's STOXX 600 gained 0.67%, Germany's DAX rose 0.73% and France's CAC 40 gained 1.14%. Spain's IBEX 35 Index rose 0.96%, while London's FTSE 100 climbed 0.72%.

The Bank of England held the Bank Rate at 5.25% during its recent meeting, as projected. Producer prices in Germany fell by 2.2% year-over-year in May compared to a 3.3% decline in the earlier month.

Passenger car registrations in the European Union fell 3.0% year-over-year to a three-month low level of 911.7 thousand units in May.

Asia Pacific Markets

Asian markets closed mixed on Thursday, with Japan's Nikkei gaining 0.16%, Hong Kong's Hang Seng Index declining 0.52%, China's Shanghai Composite Index falling 0.42% and India's S&P BSE Sensex gaining 0.18%.

The People’s Bank of China maintained key lending rates at the June fixing. Hong Kong's unemployment rate came in unchanged at 3% during the three months ending May. Singapore's unemployment rate increased to 2.1% in the first quarter of 2024 versus 2.0% in the prior period.


  • The U.S. current account deficit rose by $15.8 billion to $237.6 billion during the first quarter, and versus market estimates of a $206.4 billion gap.
  • The Philadelphia Fed Manufacturing Index fell 3.2 points to a reading of 1.3 in June, missing market expectations of 5.
  • U.S. initial jobless claims fell by 5,000 to 238,000 in the second week of June, compared to market estimates of 235,000.
  • Housing starts in declined 5.5% to an annualized rate of 1.277 million in May, while building permits fell by 3.8% to an annual rate of 1.386 million.
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© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

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