Research

Disclaimer: All information on this section is of a general nature.
Before making any investment decision, you should consult your adviser.

State One Market Opener - 24 Aug 2016

 
Local Markets Commentary
Australian market investors face an avalanche of top-tier corporate financial reports today.

Locally today, leading indices, skilled vacancies and construction work reports are also due.

Companies trading ex-dividend include AGL, LLC and TLS.

Overnight international equities leads are positive.

In commodities trade, oil and gold each swung higher again. Copper continued lower and iron ore higher.

The $A dropped below US76.20c after trading above ~US76.45c early yesterday evening.

Since overnight international trade, reports have emerged that North Korea has test-fired a ballistic missile from a submarine.

Overseas Market Commentary
Major European and US equities markets settled higher overnight, supported by data, select corporate results and a turn higher again for oil. 

US July new home sales were reported 12.4% higher for the month, 31.3% year-on-year, at a nine-month peak rate, and representing a fifth consecutive monthly rise. 

The initial August composite PMI for the euro zone rose one point to 53.3, a seven-month peak.

In the UK, CBI reported international orders for manufactured goods had risen to their strongest in two years over the past month, nonetheless registering -6 following a -22 from the July survey.

Tonight in the US, July existing home sales, Markit’s initial August manufacturing PMI, a June house price index and weekly mortgage applications are due. 

CNOOC, Glencore and WPP are among companies scheduled to report earnings today andtonight.

Overnight, US top-end homebuilder Toll and UK homebuilder Persimmon each gained, Persimmon on 29% higher interim profit and Toll on a 325% improvement in quarterly revenue.

US electronics retailer Best Buy appreciated almost 20% on a surprise quarterly profit.

 
24/08/2016 8:10:37 AM

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