Disclaimer: All information on this section is of a general nature.
Before making any investment decision, you should consult your adviser.
State One Market Opener - 07 Sep 2016
Local Markets Commentary
The Australian market will open on mixed overnight international equities and commodities leads.
In commodities trade, US gold futures picked up the pace of Friday’s rally. Oil gained. LME copper continued slightly lower, but Comex (US) copper rallied. Iron ore continued lower.
The $A was pushed past US76.80c after trading at ~US76.5c early yesterday evening.
Locally today, June quarter GDP figures are due 11.30am AEST. Pre-trade, AiG will release its August construction sector activity index. Post-trade, the RBA publishes foreign reserves.
Large-cap local stocks trading ex-dividend today include BXB, COH, CTX, PFL, QAN and SPO. Please see pp3-4 for a detailed list.
China is expected to publish August foreign reserves ~1pm. Trade figures and foreign direct investment are anticipated tomorrow.
Overseas Market Commentary
Major European and US equities markets diverged overnight, US volumes reportedly low following Monday’s public holiday.
ISM’s US non-manufacturing activity index concerned just as much as its manufacturing index had done last week, coming in 4.1 points lower than for July, at 51.4, the lowest reading in 6.5 years.
This pushed expectations of a September US rate rise even lower, the $US dropping ~1%.
Earlier in the euro zone, June quarter GDP growth was confirmed at 1.6% in a final reading.
Germany’s July industrial orders rose 0.2% for the month, following a 0.3% fall in July, but a 0.4% gain had been forecast.
Tonight in the US, the Federal Reserve releases its monthly region-by-region economic overview, known as the ‘beige book’. July job openings and weekly mortgage applications are also due.
Across the Atlantic, Bank of England governor Mark Carney is due to answer questions in parliament.
Hewlett Packard Enterprise is among companies due to report earnings.
Overnight, Canadian petroleum pipeline major Enbridge announced it would outlay $US28B for Texas-based company Spectra Energy.
General Electric meanwhile plans to pay a total $US1.4B for two European-headquartered 3-D printing companies.
The Australian market will open on mixed overnight international equities and commodities leads.
In commodities trade, US gold futures picked up the pace of Friday’s rally. Oil gained. LME copper continued slightly lower, but Comex (US) copper rallied. Iron ore continued lower.
The $A was pushed past US76.80c after trading at ~US76.5c early yesterday evening.
Locally today, June quarter GDP figures are due 11.30am AEST. Pre-trade, AiG will release its August construction sector activity index. Post-trade, the RBA publishes foreign reserves.
Large-cap local stocks trading ex-dividend today include BXB, COH, CTX, PFL, QAN and SPO. Please see pp3-4 for a detailed list.
China is expected to publish August foreign reserves ~1pm. Trade figures and foreign direct investment are anticipated tomorrow.
Overseas Market Commentary
Major European and US equities markets diverged overnight, US volumes reportedly low following Monday’s public holiday.
ISM’s US non-manufacturing activity index concerned just as much as its manufacturing index had done last week, coming in 4.1 points lower than for July, at 51.4, the lowest reading in 6.5 years.
This pushed expectations of a September US rate rise even lower, the $US dropping ~1%.
Earlier in the euro zone, June quarter GDP growth was confirmed at 1.6% in a final reading.
Germany’s July industrial orders rose 0.2% for the month, following a 0.3% fall in July, but a 0.4% gain had been forecast.
Tonight in the US, the Federal Reserve releases its monthly region-by-region economic overview, known as the ‘beige book’. July job openings and weekly mortgage applications are also due.
Across the Atlantic, Bank of England governor Mark Carney is due to answer questions in parliament.
Hewlett Packard Enterprise is among companies due to report earnings.
Overnight, Canadian petroleum pipeline major Enbridge announced it would outlay $US28B for Texas-based company Spectra Energy.
General Electric meanwhile plans to pay a total $US1.4B for two European-headquartered 3-D printing companies.