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 - 08 Nov 2016

Local Markets Commentary

The Australian market opens today’s trade following rallies on international equities markets and for some key commodities overnight.

Regional data could also influence today’s trade. China is due to report October trade statistics ~1pm AEDST. FDI is also expected anytime from today.

In overnight commodities trade, US gold futures fell. Oil swung higher. Copper and iron ore rallied. Coking coal futures were reportedly propelled 10% higher in China.

The $A was pushed beyond US77.15c after trading at ~US76.75c yesterday evening.

Locally pre-trade, a weekly consumer sentiment reading is due. NAB’s monthly business survey report will be released 11.30am.

Overseas Market Commentary

Major European and US equities markets bounced overnight.

Tonight in the US is official polling day for the US presidential election. Any clear result is expected from ~3pm Wednesday AEDST.

Overnight in Germany, September factory orders surprised, falling 0.6% after rising for the past two months, and following forecasts of a further 0.2% - 0.3% gain.

A euro zone Sentix investor sentiment index rose 4.6 to 13.1, however and September retail sales were reported 1.1% higher.

Meanwhile European Central Bank (ECB) vice president Vitor Constancio predicted regional CPI growth could rise to 1.3% by March 2017.

In the US, Federal Reserve vice chair Stanley Fischer described the national labour market as strong.

September consumer credit was reported at $US19.3B, from $US25.9B in August.

In tonight’s data releases, a US small business optimism index and September job openings are due. Industrial production figures will be published for the UK and Germany.

Adecco, ArcelorMittal, Associated British Foods, Credit Agricole, Marks & Spencer, Mitsubishi UFJ, Nikon and Toyota Motor are scheduled to report today and tonight.

Overnight, HSBC reported an 86% slide in September quarter pre-tax profit.

Earlier, Nissan cited yen strength and reduced domestic demand when reporting an 18.6% drop in September quarter operating profit.

France’s Total confirmed it was near agreeing a $US6B offshore gas field development deal with Iran.

Alcoa spinoff Arconic announced a $US1B sheet and plate supply contract with Airbus.

8/11/2016 6:53:09 AM

Back to top