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Market Opener – 20 Feb 2018
Local Markets Commentary
The Australian market commences today’s trade with plenty of domestic earnings reports to digest, four large-caps trading ex-dividend, and scant definitive or positive international leads.
In overnight commodities trade, US gold futures settled modestly lower in shortened trade. Oil extended Friday’s gain.
In LME trade, copper turned and fell. Nickel picked up the pace from Friday’s decline.
The $A was pushed lower, to ~US79.10c, after rising to ~US79.25c early yesterday evening.
Locally today, a weekly consumer sentiment report is due 9.30am AEDST.
This morning, Reserve Bank of Australia (RBA) assistant governor (financial system) Michele Bullock is speaking at a summit in Sydney, ahead of the 11.30am AEDST release of the central bank’s February policy meeting minutes
CPU, DMP, IAG AND IPH trade ex-dividend today.
Overseas Market Commentary
Major European equities markets headed lower early overnight in reduced-volume trade, amid scant high-profile corporate reports and in the absence of major economic data releases.
US equities markets did not trade due to a public holiday.
Markets in China had also remained closed during Spring Festival holiday season.
No major economic indicators are scheduled for the US tonight.
Elsewhere, Germany’s Social Democrats party members vote on the proposed government alliance with the Angela Merkel-led Christian Democrats.
BHP, Domino’s Pizza, Home Depot and Walmart are among companies scheduled to report earnings today and tonight.
In overnight corporate news, Reckitt Benckiser reported £61.17B full-year net income, supported by the Mead Johnson acquisition, and announced a 7% higher dividend. Like-for-like sales came in essentially flat however, helping push the stock 7.5% lower.
China’s markets are closed through tomorrow due to Spring Festival holidays.
The Australian market commences today’s trade with plenty of domestic earnings reports to digest, four large-caps trading ex-dividend, and scant definitive or positive international leads.
In overnight commodities trade, US gold futures settled modestly lower in shortened trade. Oil extended Friday’s gain.
In LME trade, copper turned and fell. Nickel picked up the pace from Friday’s decline.
The $A was pushed lower, to ~US79.10c, after rising to ~US79.25c early yesterday evening.
Locally today, a weekly consumer sentiment report is due 9.30am AEDST.
This morning, Reserve Bank of Australia (RBA) assistant governor (financial system) Michele Bullock is speaking at a summit in Sydney, ahead of the 11.30am AEDST release of the central bank’s February policy meeting minutes
CPU, DMP, IAG AND IPH trade ex-dividend today.
Overseas Market Commentary
Major European equities markets headed lower early overnight in reduced-volume trade, amid scant high-profile corporate reports and in the absence of major economic data releases.
US equities markets did not trade due to a public holiday.
Markets in China had also remained closed during Spring Festival holiday season.
No major economic indicators are scheduled for the US tonight.
Elsewhere, Germany’s Social Democrats party members vote on the proposed government alliance with the Angela Merkel-led Christian Democrats.
BHP, Domino’s Pizza, Home Depot and Walmart are among companies scheduled to report earnings today and tonight.
In overnight corporate news, Reckitt Benckiser reported £61.17B full-year net income, supported by the Mead Johnson acquisition, and announced a 7% higher dividend. Like-for-like sales came in essentially flat however, helping push the stock 7.5% lower.
China’s markets are closed through tomorrow due to Spring Festival holidays.