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

Market Opener - 08 Feb 2017

Local Markets Commentary

The Australian market opens mid-week trade again on lacklustre equities, and mixed commodities, leads.

In overnight commodities trade, gold continued a little higher. Oil fell further. Copper swung lower. Iron ore turned and rallied.

The $A appreciated a little, after trading at ~US76.25c early yesterday evening.

No major economic indicators are due for release locally today, but earnings season continues.

Overseas Market Commentary

Unconvincing trade featured across most major European and US equities markets overnight, amid scant new data releases and mixed corporate results.

In Germany, December industrial output fell 3% for the month.

US December exports were reported 2.7% higher, at $US190.7B, helping push down the trade deficit by 3.2% to $US44.3B.

A job openings report estimated opportunities had increased slightly.

Tonight in the US, weekly mortgage applications are due.

Allergan, Carlyle Group, Daikin, GlaxoSmithKline, Isuzu, Mitsui, Prudential, Rio Tinto, Sanofi and Time Warner are among companies scheduled to report earnings today and tonight.

In overnight corporate news, BP reported a 100% increase in December quarter profit (underlying replacement), but this undershot expectations, as did an overall 2016 profit fall.

General Motors and Twenty-First Century Fox share prices also fell, on income and revenue concerns.

8/02/2017 6:52:04 AM

Back to top