Research

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Before making any investment decision, you should consult your adviser.

State One Market Opener - 15 Nov 2016

 
Local Markets Commentary

The Australian market commences today’s trade on lacklustre equities and varying commodities leads.

In overnight commodities trade, US gold futures and WTI crude settled yet a little lower. Copper swung modestly higher. Iron ore settled flat.

The $A remained in a comparatively narrow range after trading at ~US75.40c yesterday evening.

Regionally today, China is expected to release October foreign direct investment ~1pm AEDST.

Locally, the Reserve Bank of Australia (RBA) will publish November policy meeting minutes 11.30am AEDST.

A weekly consumer sentiment reading is due pre-trade.

Overseas Market Commentary

Vacillating trade featured across major European and US equities markets, amid corporate deal-making and as the $US traded at ~11-month highs.

In scant data releases, euro zone September industrial production fell 0.8% for the month but rose 1.2% year-on-year. September quarter output came in 0.4% higher year-on-year.

Tonight in the US, retail sales, business inventories, trade prices and a New York region manufacturing index are due.

In addition, Federal Reserve vice chair Stanley Fischer is speaking publicly, as are three regional presidents.

easyJet, Home Depot, JD.com, Merck, Premier Foods and Vodafone are scheduled to report later today and tonight.

Overnight, Germany’s Siemens revealed it was outlaying $US4.5B for US-headquartered industrial software specialist Mentor Graphics.

Earlier South Korea’s Samsung Electronics announced the $8B acquisition of auto electronics group Harman International.

Positive sales proved insufficient for Tata Motors, which undershot on quarterly profit expectations.

 
15/11/2016 6:49:38 AM

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