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ASX to rise as Australia pledges more support for Ukraine

·Personal Finance Editor
·2-min read
The ASX board showing company price changes, Anthony Albanese and Ukraine President Volodymyr Zelenskiy shaking hands.
The ASX is expected to rise this morning as Prime Minister Anthony Albanese promises more help for Ukraine. (Source: Getty/Reuters)

ASX: The local market is expected to jump this morning after the US rallied in its Friday session.

This came after a broad sell-off in mining and energy stocks late in the session pushed the Australian share market into the red on Friday, as investors remained jittery over prospects of a slowdown in global growth.

Wall Street: US stocks ended a choppy session higher on Friday, as equities steadied after their worst start to the year in decades.

The S&P 500 rose by about 1.1 per cent, the Dow Jones Industrial Average added 322 points, or 1.1 per cent, while the Nasdaq Composite gained 0.9 per cent.

Crypto: Canadian crypto broker Voyager Digital has suspended trading, deposits, withdrawals, and loyalty rewards.

The decision comes after the firm gave a notice of default to crypto hedge fund Three Arrows Capital after it failed to repay more than US$644 million in borrowed bitcoin and USDC.

Ukraine crisis: Australia will provide 34 additional armoured vehicles to Ukraine and prohibit Russian gold imports, Prime Minister Anthony Albanese said during a historic visit to the besieged country.

Speaking in Kyiv alongside Ukraine President Volodymyr Zelenskiy, Albanese said Australia would impose sanctions and travel bans on 16 more Russian ministers and oligarchs, bringing the total number of Russian individuals sanctioned by Australia to 843.

RBA: There appears to be little doubt that the Reserve Bank of Australia (RBA) will lift the cash rate for the third month in a row when its board meets on Tuesday.

If economists are correct, borrowers will be looking at another 50-basis-point increase as the RBA tries to rein in inflation as it balloons towards 7 per cent this year from an already-lofty 5.1 per cent.

Floods: NSW residents were hit by more heavy rain and flooding with dangerous downpours continuing overnight.

Areas stretching from Newcastle to the South Coast and as far inland as Oberon are at risk, but especially western Sydney's flood-prone Hawkesbury-Nepean area.

New flavour: Coca-Cola has teamed up with DJ Marshmello to unveil a new and unexpected flavour.

While fans might have expected a sweet marshmallow taste, the flavour will likely come as a surprise.

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