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Before making any investment decision, you should consult your adviser.
Market Opener – 29 Nov 2017
Local Markets Commentary
The Australian market commences today’s trade on positive overnight international equities, but mixed commodities, leads.
Also overnight, North Korea launched an intercontinental ballistic missile which landed in Japanese waters after traversing ~1000km over ~50 minutes.
South Korea claimed its military subsequently also tested a missile.
Japan sought a UN Security Council meeting.
In overnight commodities trade, oil extended Monday’s fall a little. US gold futures settled marginally higher. Iron ore swung higher. LMC copper and other major base metals fell.
The $A traded in a narrow range after falling beneath ~US75.95c early yesterday evening.
Locally today, ALQ and GNC are among stocks trading ex-dividend.
Overseas Market Commentary
Positive settlements all round overnight, but major European and US equities trade diverged, some indices chopping and swinging, but others opening higher and never looking seriously headed.
Reports of a North Korean missile test produced varying dips.
In the US, a Senate budget committee further considered and approved tax legislation that may be put to a vote late-week.
The financial sector was in association well-supported in the US, in part also due to generally optimistic and non-controversial Senate committee testimony by Federal Reserve chair-elect Jerome Powell.
Among US economic indicators, the Conference Board’s consumer confidence index reached a 17-year high of 129.5, from 125.9 in October.
The October trade deficit rose to $US68.3B from $US64.1B in September.
A Case-Shiller house price index rose 0.7% during the September quarter and 6.2% on an annual basis.
Releasing a Bank of England financial stability report, governor Mark Carney said a 0.5% special capital buffer was being doubled, requiring banks to hold an additional collective £6B to mitigate risk.
Mr Carney said the central bank was also suggesting the UK and European parliaments design legislation to reduce risk in derivatives and insurance markets.
The Bank of England’s review also included stress testing, which proved positive for the seven major UK banks.
Tonight in the US, Federal Reserve chair Janet Yellen’s comments on inflation, central bank’s assets and general economic indicators are all keenly anticipated as she meets with a Senate economic committee.
US data releases are expected to include, the Federal Reserve’s ‘beige book’ region-by-region economic assessment, October pending home sales and a second (of three) September quarter GDP estimate.
In corporate news, Royal Dutch Shell pleased with plans to pay dividends in cash rather than scrip and to conduct a $US25B buy-back.
The Australian market commences today’s trade on positive overnight international equities, but mixed commodities, leads.
Also overnight, North Korea launched an intercontinental ballistic missile which landed in Japanese waters after traversing ~1000km over ~50 minutes.
South Korea claimed its military subsequently also tested a missile.
Japan sought a UN Security Council meeting.
In overnight commodities trade, oil extended Monday’s fall a little. US gold futures settled marginally higher. Iron ore swung higher. LMC copper and other major base metals fell.
The $A traded in a narrow range after falling beneath ~US75.95c early yesterday evening.
Locally today, ALQ and GNC are among stocks trading ex-dividend.
Overseas Market Commentary
Positive settlements all round overnight, but major European and US equities trade diverged, some indices chopping and swinging, but others opening higher and never looking seriously headed.
Reports of a North Korean missile test produced varying dips.
In the US, a Senate budget committee further considered and approved tax legislation that may be put to a vote late-week.
The financial sector was in association well-supported in the US, in part also due to generally optimistic and non-controversial Senate committee testimony by Federal Reserve chair-elect Jerome Powell.
Among US economic indicators, the Conference Board’s consumer confidence index reached a 17-year high of 129.5, from 125.9 in October.
The October trade deficit rose to $US68.3B from $US64.1B in September.
A Case-Shiller house price index rose 0.7% during the September quarter and 6.2% on an annual basis.
Releasing a Bank of England financial stability report, governor Mark Carney said a 0.5% special capital buffer was being doubled, requiring banks to hold an additional collective £6B to mitigate risk.
Mr Carney said the central bank was also suggesting the UK and European parliaments design legislation to reduce risk in derivatives and insurance markets.
The Bank of England’s review also included stress testing, which proved positive for the seven major UK banks.
Tonight in the US, Federal Reserve chair Janet Yellen’s comments on inflation, central bank’s assets and general economic indicators are all keenly anticipated as she meets with a Senate economic committee.
US data releases are expected to include, the Federal Reserve’s ‘beige book’ region-by-region economic assessment, October pending home sales and a second (of three) September quarter GDP estimate.
In corporate news, Royal Dutch Shell pleased with plans to pay dividends in cash rather than scrip and to conduct a $US25B buy-back.