Disclaimer: All information on this section is of a general nature.
Before making any investment decision, you should consult your adviser.
Market Opener – 08 Mar 2018
Local Markets Commentary
The Australian market opens today’s trade on negative commodities leads, ahead of influential regional and domestic data, and as a plethora of large-cap and high-profile stocks trades ex-dividend.
Locally today, January trade figures are due 11.30am AEDST. Exports are of particular interest following yesterday’s December quarter GDP growth release, impacted by exports.
ASX, BHP, BRG, QBE and S32 represent just a few of a significant number of large-cap companies trading ex-dividend today. Please see p3 for detailed information.
Regionally, China is expected to release February trade balance 2pm AEDST. Foreign direct investment (FDI) is also anticipated anytime from today.
A final December quarter GDP reading is due out of Japan 10.50am AEDST.
In overnight commodities trade, US gold futures, oil and LME copper and nickel swung lower.
Iron ore (China port, 62% Fe) recorded a fourth consecutive fall.
The $A appreciated to ~US78.20c after falling to US78.0c early yesterday evening.
Overseas Market Commentary
Major European and US equities markets headed lower on opening overnight, but reduced risk sentiment appeared to turn, attributed by some to some positive US economic indicators.
The DAX trended higher from early trade, and the S&P 500 and the NASDAQ notably gained upward traction in second-half trade.
Among new data releases, the euro zone’s final December quarter GDP reading confirmed 0.6% growth for the quarter, and 2.7% year-on-year. The respective September quarter figures were reported as 0.7% and 2.7%.
European Council president Donald Tusk in the meantime recommended negotiators be wary of the UK’s preferred position on trade following its separation from the European Union.
In the US, a private sector February new employment tally came in at 235,000, following forecasts of an additional 200,000 jobs.
A $US56.6B trade deficit reported for the end of January, represented a 5% increase for the month and the highest deficit since October 2008. The value of exports declined 1.3% to $US200.9B, in part due to aircraft deliveries falling by $US1.8B.
The Federal Reserve’s region-by-region economic update ‘beige book report’ indicated wages were moving higher, albeit moderately, even following initial greater benefits announced by business following the introduction of corporate tax cuts.
Tonight in the US, weekly new unemployment claims and a monthly jobs layoff report are due, ahead of monthly employment statistics tomorrow night.
Elsewhere, the European Central Bank (ECB) holds a policy meeting and post-meeting media conference.
Domino’s Pizza and Premier Oil are among companies due to report full year earnings later today and tonight.
BHP Billiton and Standard Chartered are scheduled to trade ex-dividend on the FTSE 100.
In overnight corporate news, Rolls-Royce reported 6% higher, £15B full-year revenue and 25% pre-tax profit growth to ~£1.1B. The stock subsequently rallied.
In the US, retailer Abercrombie & Fitch also pleased with its December quarter report, the stock appreciating more than 10%.
The Australian market opens today’s trade on negative commodities leads, ahead of influential regional and domestic data, and as a plethora of large-cap and high-profile stocks trades ex-dividend.
Locally today, January trade figures are due 11.30am AEDST. Exports are of particular interest following yesterday’s December quarter GDP growth release, impacted by exports.
ASX, BHP, BRG, QBE and S32 represent just a few of a significant number of large-cap companies trading ex-dividend today. Please see p3 for detailed information.
Regionally, China is expected to release February trade balance 2pm AEDST. Foreign direct investment (FDI) is also anticipated anytime from today.
A final December quarter GDP reading is due out of Japan 10.50am AEDST.
In overnight commodities trade, US gold futures, oil and LME copper and nickel swung lower.
Iron ore (China port, 62% Fe) recorded a fourth consecutive fall.
The $A appreciated to ~US78.20c after falling to US78.0c early yesterday evening.
Overseas Market Commentary
Major European and US equities markets headed lower on opening overnight, but reduced risk sentiment appeared to turn, attributed by some to some positive US economic indicators.
The DAX trended higher from early trade, and the S&P 500 and the NASDAQ notably gained upward traction in second-half trade.
Among new data releases, the euro zone’s final December quarter GDP reading confirmed 0.6% growth for the quarter, and 2.7% year-on-year. The respective September quarter figures were reported as 0.7% and 2.7%.
European Council president Donald Tusk in the meantime recommended negotiators be wary of the UK’s preferred position on trade following its separation from the European Union.
In the US, a private sector February new employment tally came in at 235,000, following forecasts of an additional 200,000 jobs.
A $US56.6B trade deficit reported for the end of January, represented a 5% increase for the month and the highest deficit since October 2008. The value of exports declined 1.3% to $US200.9B, in part due to aircraft deliveries falling by $US1.8B.
The Federal Reserve’s region-by-region economic update ‘beige book report’ indicated wages were moving higher, albeit moderately, even following initial greater benefits announced by business following the introduction of corporate tax cuts.
Tonight in the US, weekly new unemployment claims and a monthly jobs layoff report are due, ahead of monthly employment statistics tomorrow night.
Elsewhere, the European Central Bank (ECB) holds a policy meeting and post-meeting media conference.
Domino’s Pizza and Premier Oil are among companies due to report full year earnings later today and tonight.
BHP Billiton and Standard Chartered are scheduled to trade ex-dividend on the FTSE 100.
In overnight corporate news, Rolls-Royce reported 6% higher, £15B full-year revenue and 25% pre-tax profit growth to ~£1.1B. The stock subsequently rallied.
In the US, retailer Abercrombie & Fitch also pleased with its December quarter report, the stock appreciating more than 10%.