Research

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

Market Opener – 16 Mar 2018

 
Local Markets Commentary
The Australian market opens Friday trade following vacillating overnight international equities sentiment

In mixed overnight commodities trade, oil continued moderately higher. US gold futures settled lower for a second consecutive session. 

LME copper headed lower and nickel continued so.

Iron ore (China port, 62% Fe) extended Wednesday’s gain. 

The $A dropped just below US78.0c after trading at ~US78.70c early yesterday evening.

Locally today, PRY and TRS are among stocks trading ex-dividend. Please see pp3-4 for detailed information.

Overseas Market Commentary
Choppy trade featured across major European and US equities markets overnight, but outcomes varied as global geopolitical tensions and the tally for this month’s US domestic political developments increased.

The US announced sanctions against 19 Russians and five Russian entities in relation to alleged cyber interference.

In addition, Saudi Arabia was reportedly admonishing the US to support greater Saudi nuclear capability in the event Iran reacts significantly to any adverse US changes to the 2015 international deal which lifted sanctions against Iran.

In the meantime, a report was published claiming US special counsel Robert Mueller had subpoenaed select documents relating to the US president’s business operations.

US February import prices surprised, rising 0.4% for the month, following a 0.8% hike in January.

Weekly new unemployment claims fell by 4000 after rising more than anticipated the previous week.

A Philadelphia region manufacturing conditions and outlook index came in at 22.3 from 25.8, and a similar New York region index at 22.5, from 13.1.

Tonight in the US, February industrial production, building permits and housing starts are due, together with an initial March University of Michigan consumer sentiment reading and a January job openings report. 

In overnight corporate news, UK financial technology firm Nex Group revealed futures exchange CME Group had approached Nex regarding a potential takeover. 

US retailer Dollar General reported better-than-expected quarterly results, together with a pleasing outlook and bigger buy-back.
 
16/03/2018 6:58:00 AM

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