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Research

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

Market Opener – 11 Feb 2019

 
Local Markets Commentary
The Australian market opens a new week’s trade with domestic corporate reporting season heating, China’s markets reopening, US negotiators in China for a new round of US-China trade talks, and a batch of influential data releases keenly anticipated in the UK tonight.

Overnight Friday international equities trade leads are uninspiring and commodities mixed. 

Locally today, the Australian Bureau of Statistics (ABS) is expected to release additional details regarding December building approvals 11.30am AEDT.

A weekly capital city residential property price report is due pre-trade.

Regionally, China’s January foreign direct investment (FDI) is anticipated anytime from today.

In overnight Friday commodities trade, oil turned higher, Brent crude sentiment rising the most.

US gold futures (April) settled modestly higher.

LME copper and aluminium extended Thursday’s falls. Nickel swung lower and dropped.

The $A appreciated slightly after trading as low as ~US70.85c early Friday evening.

China’s reopen today.

Japan’s markets will be closed due to a public holiday.

Overseas Market Commentary
Major European and US equities markets opened lower overnight Friday, key European indices soon swinging and then chopping their way through, and the NASDAQ and S&P 500 trending higher to ultimate slight gains.

Early data disappointed, adding to expectations of weaker 2019 international economic growth.

Germany’s December trade surplus surprised on the downside, falling to €13.9B from €20.4B at the end of November.

Seasonally adjusted however, the surplus rose €0.5B to €19.4B.

Seasonally adjusted, imports rose 1.2% after a 1.6% November fall.

Exports grew 1.5%, following a 0.4% November decline.

Tonight in the US, a consumer inflation expectations report is due. 

Elsewhere, the UK reports December quarter GDP, December trade balance and December industrial production. 

Later in the week, the UK parliament is expected to again vote on proposed plans for the UK’s scheduled late-March separation from the European Union (EU).

Companies scheduled to report earnings later today or tonight include: Loews, Michelin (full year) and Restaurant Brands. 

In overnight Friday corporate news, toy manufacturer Mattel quarterly results pleased, helping the stock to a more than 20% sessional gain.

Competitor Hasbro suffered after revealing a 42% year-on-year drop in adjusted profit following the Toys R Us liquidation. 
 
11/02/2019 7:00:00 AM

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