Disclaimer: All information on this section is of a general nature.
Before making any investment decision, you should consult your adviser.
Market Opener – 27 Feb 2018
Local Markets Commentary
The Australian market opens today’s trade on positive overnight international equities leads and price gains for key commodities.
US gold futures turned to settle modestly higher. Oil extended recent gains.
Iron ore (China port, 62% Fe) added to Friday’s move higher.
LME copper and nickel swung higher, nickel rallying.
The $A fell to ~US78.50c after appreciating beyond US78.85c early yesterday evening.
Locally today, a weekly consumer sentiment reading is due pre-trade, and a new home sales report at 11am AEDST.
High-profile companies continue to report at the tail-end of the current reporting season.
Large-cap stocks trading ex-dividend today include AMC, AWC, CGF, FXJ, LLC and WOR.
Regionally this morning, New Zealand has reported a $NZ566M January trade deficit and $NZ3.22B deficit for the year to 31 January. Both deficits are worse than forecast.
Overseas Market Commentary
Major European and US equities markets opened stronger overnight, key US indices trending yet higher throughout trade.
Oil and US bond prices remained firmer. Some attributed generally strong sentiment to Warren Buffett positive commentary regarding new US jobs and tax legislation.
US Federal Reserve chair Jerome Powell was scheduled post-US trade to meet with a House of Representatives finance committee following Friday’s publication of a twice-yearly bank policy update prepared for parliament.
In the meantime, the $US fell against most major currencies, before swinging, and US data releases proved mixed.
January new home sales dropped 7.8% for the month to a five-month low following a 9.3 tumble in December. Year-on-year, new home sales were calculated 1% lower.
The Chicago Fed national activity index came in at 0.12 following expectations of 2.0 and a 0.14 December reading.
A Texas region manufacturing activity index jumped 3.8 points to 37.2 however, against forecasts of a 3.4-point fall.
January business lending disappointed in the UK, declining 1.4% year-on-year.
In Germany, the Angela Merkel-led Christian Democrats commenced a vote on proposed coalition government arrangements.
Meanwhile, European Central Bank (ECB) president Mario Draghi told a European parliamentary committee that inflation had yet to establish a sustainable upward trend, but that the bank remained positive on euro zone economic progress.
Tonight in the US, January durable orders, wholesale inventories, two house price indices and another regional manufacturing index are due, together with a consumer confidence reading.
Companies scheduled to report earnings later today or tonight include GKN, Macy’s, Standard Chartered and Virgin Money.
In overnight corporate news, Qualcomm was reported to have conditionally agreed to negotiating a deal under which Singapore firm Broadcom would acquire the chip manufacturer. Conditions include a yet higher offer.
Berkshire Hathaway stock appreciated following the weekend’s release of a significant December quarter boost from the change in US tax laws.
The Australian market opens today’s trade on positive overnight international equities leads and price gains for key commodities.
US gold futures turned to settle modestly higher. Oil extended recent gains.
Iron ore (China port, 62% Fe) added to Friday’s move higher.
LME copper and nickel swung higher, nickel rallying.
The $A fell to ~US78.50c after appreciating beyond US78.85c early yesterday evening.
Locally today, a weekly consumer sentiment reading is due pre-trade, and a new home sales report at 11am AEDST.
High-profile companies continue to report at the tail-end of the current reporting season.
Large-cap stocks trading ex-dividend today include AMC, AWC, CGF, FXJ, LLC and WOR.
Regionally this morning, New Zealand has reported a $NZ566M January trade deficit and $NZ3.22B deficit for the year to 31 January. Both deficits are worse than forecast.
Overseas Market Commentary
Major European and US equities markets opened stronger overnight, key US indices trending yet higher throughout trade.
Oil and US bond prices remained firmer. Some attributed generally strong sentiment to Warren Buffett positive commentary regarding new US jobs and tax legislation.
US Federal Reserve chair Jerome Powell was scheduled post-US trade to meet with a House of Representatives finance committee following Friday’s publication of a twice-yearly bank policy update prepared for parliament.
In the meantime, the $US fell against most major currencies, before swinging, and US data releases proved mixed.
January new home sales dropped 7.8% for the month to a five-month low following a 9.3 tumble in December. Year-on-year, new home sales were calculated 1% lower.
The Chicago Fed national activity index came in at 0.12 following expectations of 2.0 and a 0.14 December reading.
A Texas region manufacturing activity index jumped 3.8 points to 37.2 however, against forecasts of a 3.4-point fall.
January business lending disappointed in the UK, declining 1.4% year-on-year.
In Germany, the Angela Merkel-led Christian Democrats commenced a vote on proposed coalition government arrangements.
Meanwhile, European Central Bank (ECB) president Mario Draghi told a European parliamentary committee that inflation had yet to establish a sustainable upward trend, but that the bank remained positive on euro zone economic progress.
Tonight in the US, January durable orders, wholesale inventories, two house price indices and another regional manufacturing index are due, together with a consumer confidence reading.
Companies scheduled to report earnings later today or tonight include GKN, Macy’s, Standard Chartered and Virgin Money.
In overnight corporate news, Qualcomm was reported to have conditionally agreed to negotiating a deal under which Singapore firm Broadcom would acquire the chip manufacturer. Conditions include a yet higher offer.
Berkshire Hathaway stock appreciated following the weekend’s release of a significant December quarter boost from the change in US tax laws.