Disclaimer: All information on this section is of a general nature.
Before making any investment decision, you should consult your adviser.
Market Opener – 24 Nov 2017
Local Markets Commentary
The Australian market opens Friday trade on scant US markets influence, due to the Thanksgiving holiday.
In overnight commodities trade, Brent crude continued higher, as did LME gold.
Iron ore extended the previous session’s strong rally. LME copper settled slightly higher. Nickel trade turned positive again.
The $A reached ~US76.25c after trading at ~US76.20c early yesterday evening.
Locally today, DLX is among companies trading ex-dividend.
Meanwhile, Queensland holds its State parliamentary election tomorrow.
Overseas Market Commentary
Choppy trade featured across major European equities markets overnight, but the FTSE 100 notably trended higher through the session.
US markets were closed, due to Thanksgiving.
China’s markets and changing lending sector regulations were again in focus early, following a bond selloff yesterday which impacted equities sentiment and caused the Shanghai Composite index to drop by the most in a session in 17 months.
Further north, European Central Bank policy meeting minutes revealed differences on the optimal timetable for bond purchases, associated guidance and the bank’s public commentary on broader policy.
Germany’s September quarter GDP growth came in at 2.8% on an annual basis, following 2.3% for the June quarter. For the three months, GDP rose 0.8%.
Euro zone initial November manufacturing and services PMIs rose to 60 and 56.2 from 58.5 and 55 respectively.
UK September quarter GDP growth was confirmed, in a final reading, at 0.4% for the three months and 1.5% year-on-year.
A CBI survey painted a positive picture for UK retail sales heading into the holiday season, a leading indicator of consumer spending jumping to 26 from -36.
In overnight corporate news, HSBC downgraded its Royal Dutch Shell advice to ‘hold’.
US markets will open as usual tonight but close early, at 1pm ET.
The Australian market opens Friday trade on scant US markets influence, due to the Thanksgiving holiday.
In overnight commodities trade, Brent crude continued higher, as did LME gold.
Iron ore extended the previous session’s strong rally. LME copper settled slightly higher. Nickel trade turned positive again.
The $A reached ~US76.25c after trading at ~US76.20c early yesterday evening.
Locally today, DLX is among companies trading ex-dividend.
Meanwhile, Queensland holds its State parliamentary election tomorrow.
Overseas Market Commentary
Choppy trade featured across major European equities markets overnight, but the FTSE 100 notably trended higher through the session.
US markets were closed, due to Thanksgiving.
China’s markets and changing lending sector regulations were again in focus early, following a bond selloff yesterday which impacted equities sentiment and caused the Shanghai Composite index to drop by the most in a session in 17 months.
Further north, European Central Bank policy meeting minutes revealed differences on the optimal timetable for bond purchases, associated guidance and the bank’s public commentary on broader policy.
Germany’s September quarter GDP growth came in at 2.8% on an annual basis, following 2.3% for the June quarter. For the three months, GDP rose 0.8%.
Euro zone initial November manufacturing and services PMIs rose to 60 and 56.2 from 58.5 and 55 respectively.
UK September quarter GDP growth was confirmed, in a final reading, at 0.4% for the three months and 1.5% year-on-year.
A CBI survey painted a positive picture for UK retail sales heading into the holiday season, a leading indicator of consumer spending jumping to 26 from -36.
In overnight corporate news, HSBC downgraded its Royal Dutch Shell advice to ‘hold’.
US markets will open as usual tonight but close early, at 1pm ET.