Research

Disclaimer: All information on this section is of a general nature.
Before making any investment decision, you should consult your adviser.

Market Opener – 22 Sep 2017

 
Local Markets Commentary
The Australian market commences Friday trade with little support from either international equities or commodities overnight trade. 

Among key commodities, US gold futures fell. WTI crude settled modestly lower and Brent modestly higher. Iron ore tumbled. LME copper and nickel headed decidedly lower.

The $A was pushed well below US79.50c after trading at ~US79.65c early yesterday evening. 

Meanwhile, among weekend political events that could influence some sentiment in next week’s early trade, New Zealand holds a national parliamentary election tomorrow and Germany on Sunday.

Overseas Market Commentary
Choppy trade featured across major European and US equities markets overnight.

Key US indices first headed lower on opening, with the tech sector notably out of favour. 

In US data releases, weekly unemployment claims fell by 23,000, but the four-week average rose 6000. 

A Philadelphia business region index rose 4.9 points to 23.8, following expectations of a 0.5-point slip.

A house price index appreciated 0.2% for July after a 0.1% rise in June. The annual rate came in at 6.3%. 

Germany’s finance ministry revealed a slight economic weakening early in the September quarter, but ahead of this weekend’s national election, indicated robust growth, as for the June quarter, was expected to return. 

Tonight in the US, initial September PMI estimates are due from Markit. 

Elsewhere, European Central Bank (ECB) president Mario Draghi is scheduled to speak publicly at Trinity College, Dublin.

In overnight corporate news, Germany’s Daimler announced plans to manufacture an electric-powered SUV, with a $US1B further investment in the company’s Alabama, US, facilities. 

Ireland’s CRH, in the meantime, said it planned to hand over $US3.5B for US cement manufacturer Ash Grove.
 
22/09/2017 7:48:00 AM

Back to top