Disclaimer: All information on this section is of a general nature.
Before making any investment decision, you should consult your adviser.
Market Opener – 28 Aug 2018
Local Markets Commentary
The Australian market opens today’s trade on positive overnight international equities leads, as the last week of domestic major corporate reporting season continues.
In overnight commodities trade, oil continued higher, but only slightly so for WTI.
US gold futures settled moderately higher.
Iron ore (China port, 62% Fe) fell.
The London Metals Exchange (LME) was closed overnight, but in the US, Comex copper rose a little.
The $A was pushed to ~US73.50c after trading at US73.10c early yesterday evening.
Locally today, a weekly consumer sentiment reading is due pre-trade.
AWC, LLC, NCM, STO and WOR are among high-profile stocks trading ex-dividend today. Details can be found on pp4-5.
Overseas Market Commentary
US equities markets again jumped on opening, attaining gains to settle higher, the NASDAQ and S&P500 achieving new record peaks.
In Europe, Germany’s Dax was also pushed to a strong finish. The FTSE did not trade, due to a UK public holiday.
Some overnight support was attributed to reported progress with a new North American trade deal, between Mexico and the US.
Mexico’s peso advanced and the $US traded at four-week lows. China’s yuan in the meantime traded at four-week peaks and Turkey’s lira fell as much as 4%.
Among US data releases, the Chicago Fed national activity index dropped from 0.48 to 0.13.
A Texas region manufacturing activity index was estimated at 30.9, from 32.3 in July, and following forecasts of 30.0.
An IFO business climate index for Germany rose by 2.1 to 103.7. Expectations gained 3.0 points, coming in at 101.2.
Tonight in the US, the July goods trade balance and wholesale inventories, a June house price index, regional manufacturing index and consumer sentiment reading are due.
Elsewhere, the European Central Bank’s chief economist is scheduled to speak publicly.
Agricultural Bank of China, Air Asia, Bank of China, Baoshan Iron & Steel, Best Buy, Bright Dairy & Food, China Construction Bank, Hewlett Packard Enterprises, Tiffany and Yunnan Copper are among companies scheduled to report earnings later today and tonight.
In overnight corporate news, Toyota revealed it was investing $US500M in Uber under a collaborative plan to support driverless vehicle development and production.
Berkshire Hathaway announced it would invest up to $US357M in India-headquartered mobile payments specialist Paytm parent One97 Communications.
The Australian market opens today’s trade on positive overnight international equities leads, as the last week of domestic major corporate reporting season continues.
In overnight commodities trade, oil continued higher, but only slightly so for WTI.
US gold futures settled moderately higher.
Iron ore (China port, 62% Fe) fell.
The London Metals Exchange (LME) was closed overnight, but in the US, Comex copper rose a little.
The $A was pushed to ~US73.50c after trading at US73.10c early yesterday evening.
Locally today, a weekly consumer sentiment reading is due pre-trade.
AWC, LLC, NCM, STO and WOR are among high-profile stocks trading ex-dividend today. Details can be found on pp4-5.
Overseas Market Commentary
US equities markets again jumped on opening, attaining gains to settle higher, the NASDAQ and S&P500 achieving new record peaks.
In Europe, Germany’s Dax was also pushed to a strong finish. The FTSE did not trade, due to a UK public holiday.
Some overnight support was attributed to reported progress with a new North American trade deal, between Mexico and the US.
Mexico’s peso advanced and the $US traded at four-week lows. China’s yuan in the meantime traded at four-week peaks and Turkey’s lira fell as much as 4%.
Among US data releases, the Chicago Fed national activity index dropped from 0.48 to 0.13.
A Texas region manufacturing activity index was estimated at 30.9, from 32.3 in July, and following forecasts of 30.0.
An IFO business climate index for Germany rose by 2.1 to 103.7. Expectations gained 3.0 points, coming in at 101.2.
Tonight in the US, the July goods trade balance and wholesale inventories, a June house price index, regional manufacturing index and consumer sentiment reading are due.
Elsewhere, the European Central Bank’s chief economist is scheduled to speak publicly.
Agricultural Bank of China, Air Asia, Bank of China, Baoshan Iron & Steel, Best Buy, Bright Dairy & Food, China Construction Bank, Hewlett Packard Enterprises, Tiffany and Yunnan Copper are among companies scheduled to report earnings later today and tonight.
In overnight corporate news, Toyota revealed it was investing $US500M in Uber under a collaborative plan to support driverless vehicle development and production.
Berkshire Hathaway announced it would invest up to $US357M in India-headquartered mobile payments specialist Paytm parent One97 Communications.