Local Markets Commentary

The Australian market opens today’s trade with significant stocks trading ex-dividend, ahead of key figures out of China.

Overnight international equities leads are uninspiring and key commodities leads mostly negative.

China is due to publish February CPI and producer prices 12.30pm AEDST.

Locally, ASX, BHP, FXL, MND, OZL, QBE, S32, SRV and VTG are among several large-cap companies trading ex-dividend.

In overnight commodities trade, gold fell further. Oil dropped. Iron ore picked up the pace of its latest decline. LME copper settled slightly lower.

The $A dropped below US75.35c after falling to ~US75.55c yesterday evening.

Overseas Market Commentary

acillating trade again featured across major European and US equities markets overnight, amid slippery oil prices, mostly positive economic reports and mixed corporate fortunes.

Key US indices notably settled at or near session lows.

A US private payrolls report well-exceeded expectations, estimating 298,000 jobs were created in February.

December quarter annual productivity growth was confirmed in a final reading at 1.3%.

In Germany, January industrial production improved 2.8% for the month following a 2.4% fall in December.

The UK government’s last budget scheduled for a Spring session boosted social care spending, raised the 2017 UK GDP growth forecast by 0.6% to 2%, and predicted government spending would come in £16.8B lower than previously anticipated.

Most tax and spending announcements are reserved for the Autumn budget, ahead of a change to a once-a-year budget delivery.

The European Central Bank (ECB) commenced a two-day policy meeting.

Tonight in the US, weekly new unemployment claims and a February job cuts report are due ahead of tomorrow night’s February employment report.

The European Central Bank (ECB) will reveal outcomes of a two-day policy meeting which commenced late yesterday.

Aviva, Domino’s Pizza, Legal & General and WM Morrison (Morrisons supermarket chain, UK) are scheduled to report full-year earnings.

Shire Pharmaceuticals, BHP Billiton and CRH trade ex-dividend on the FTSE 100.