Research

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 - 25 Aug 2016

 
Local Markets Commentary

The Australian market will trade again through a swag of corporate financial reports, but also following largely negative overnight international equities and commodities leads.

Oil and gold turned and fell. Copper continued to fall. Iron ore swung a little lower.

The $A returned to ~US76.10c after trading past ~US76.25c early yesterday evening.

Locally today, companies trading ex-dividend include JBH and QBE.

A private capital spending report is also due, as are further details regarding July employment figures, released a week ago.

Overseas Market Commentary

Major European and US equities markets fell early overnight, sentiment down on a mix of caution and lower commodity prices.

US July existing home sales fell 3.2% year-on-year, following four consecutive monthly rises, and against forecasts of a 0.4% pullback.

A June house price index showed a 1.2% rise in prices for the June quarter, and a 5.6% year-on-year appreciation.

Weekly mortgage applications fell 2.1%.

Earlier in Germany, a final June quarter GDP reading confirmed 0.4% quarterly growth against 0.7% for the March quarter. The annual rate came in at an adjusted 1.8%.

Tonight in the US, weekly new unemployment claims, July durable goods orders, a services sector activity index and Kansas City region manufacturing index are due.

Central bankers will also gather in Jackson Hole, Wyoming for an annual monetary policy symposium hosted by the US Federal Reserve’s Kansas City division.

Spire Healthcare, Jimmy Choo, Tiffany, Dollar General, Dollar Tree, China Construction Bank and ZTE Corp are among companies scheduled to report earnings today and tonight.

Overnight, miner and commodities trader Glencore vowed to keep reducing debt and ultimately restore dividend payments.

Major UK advertising and marketing firm WPP reported improved sales, but falling profit, on write-downs.

Pfizer continued in the pharmaceutical deal news, with a reported agreement to purchase at least some of AstraZeneca’s antibiotics division for an estimated $US1.5B.

 
25/08/2016 7:39:37 AM

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