Disclaimer: All information on this section is of a general nature.
Before making any investment decision, you should consult your adviser.
Market Opener – 21 Feb 2018
Local Markets Commentary
The Australian market opens mid-week trade with a plethora of large-cap ASX-listed companies reporting earnings and others trading ex-dividend.
Key overnight international equities and commodities trade leads are largely negative.
In overnight commodities trade, US gold futures dropped. WTI crude rose, but Brent slipped.
In LME trade, copper extended Monday’s fall. Aluminium also fell.
The $A traded sub-US78.80c after slipping below US78.95c early yesterday evening.
Locally today, Westpac and the Melbourne Institute publish their January leading indicators report. The December quarter wage price index, plus construction activity, as calculated by the Australian Bureau of Statistics (ABS) are due 11.30am AEDST.
Companies trading ex-dividend today include AMP, NGI, SGR and SUN.
Overseas Market Commentary
Major European and US equities markets diverged amid mixed earnings reports on both sides of the Atlantic.
The $US firmed and US sovereign bond yields were pushed lower.
US equities markets were trading for the first time this week.
Markets in China had remained closed yesterday due to Spring Festival holiday season.
In Germany, January producer prices were reported 0.5% higher for the month, after rising 0.2% in December. For the year, prices were 2.1%lower.
ZEW current conditions and economic sentiment indices pulled back by 2.9 and 2.6 points respectively.
Meanwhile, Germany’s Social Democrats party members commenced a vote on the proposed government alliance with the Angela Merkel-led Christian Democrats
Tonight, the week’s economic data releases and key reports pick up.
In the US, the Federal Reserve publishes the minutes of its January policy meeting. In addition, at least two Federal Reserve regional presidents are scheduled to speak publicly.
January existing home sales and Markit’s initial February PMI estimates are also due.
In addition, activity will be closely watched as the US treasury conducts an ~US150B bond sale.
Elsewhere, Bank of England governor Mark Carney updates a UK parliamentary treasury committee on policy and outlooks.
Glencore, Lloyds and Wendy’s are among companies scheduled to report earnings today and tonight.
In overnight corporate news, HSBC undershot December quarter and full-year profit expectations and was punished in early trade.
Walmart fell heavily from pre-US trade, December quarter profit also short of expectations, but revenue and same-store sales better-than-anticipated.
Home Depot’s December quarter profit and sales each exceeded forecasts, the home improver pleasing further with a 15.7% higher dividend. Overall vacillating sentiment constrained stock price gains, however.
Reports Samsung would produce fewer Apple phone components due to weaker-than-expected demand, pushed Apple lower.
Qualcomm revealed it would offer $US44B for fellow chip manufacturer NXP, raising the bid in response to competition from Broadcom.
China’s markets remain closed today for the last day of the Spring Festival holiday run.
The Australian market opens mid-week trade with a plethora of large-cap ASX-listed companies reporting earnings and others trading ex-dividend.
Key overnight international equities and commodities trade leads are largely negative.
In overnight commodities trade, US gold futures dropped. WTI crude rose, but Brent slipped.
In LME trade, copper extended Monday’s fall. Aluminium also fell.
The $A traded sub-US78.80c after slipping below US78.95c early yesterday evening.
Locally today, Westpac and the Melbourne Institute publish their January leading indicators report. The December quarter wage price index, plus construction activity, as calculated by the Australian Bureau of Statistics (ABS) are due 11.30am AEDST.
Companies trading ex-dividend today include AMP, NGI, SGR and SUN.
Overseas Market Commentary
Major European and US equities markets diverged amid mixed earnings reports on both sides of the Atlantic.
The $US firmed and US sovereign bond yields were pushed lower.
US equities markets were trading for the first time this week.
Markets in China had remained closed yesterday due to Spring Festival holiday season.
In Germany, January producer prices were reported 0.5% higher for the month, after rising 0.2% in December. For the year, prices were 2.1%lower.
ZEW current conditions and economic sentiment indices pulled back by 2.9 and 2.6 points respectively.
Meanwhile, Germany’s Social Democrats party members commenced a vote on the proposed government alliance with the Angela Merkel-led Christian Democrats
Tonight, the week’s economic data releases and key reports pick up.
In the US, the Federal Reserve publishes the minutes of its January policy meeting. In addition, at least two Federal Reserve regional presidents are scheduled to speak publicly.
January existing home sales and Markit’s initial February PMI estimates are also due.
In addition, activity will be closely watched as the US treasury conducts an ~US150B bond sale.
Elsewhere, Bank of England governor Mark Carney updates a UK parliamentary treasury committee on policy and outlooks.
Glencore, Lloyds and Wendy’s are among companies scheduled to report earnings today and tonight.
In overnight corporate news, HSBC undershot December quarter and full-year profit expectations and was punished in early trade.
Walmart fell heavily from pre-US trade, December quarter profit also short of expectations, but revenue and same-store sales better-than-anticipated.
Home Depot’s December quarter profit and sales each exceeded forecasts, the home improver pleasing further with a 15.7% higher dividend. Overall vacillating sentiment constrained stock price gains, however.
Reports Samsung would produce fewer Apple phone components due to weaker-than-expected demand, pushed Apple lower.
Qualcomm revealed it would offer $US44B for fellow chip manufacturer NXP, raising the bid in response to competition from Broadcom.
China’s markets remain closed today for the last day of the Spring Festival holiday run.