Disclaimer: All information on this section is of a general nature.
Before making any investment decision, you should consult your adviser.
Market Opener – 20 Feb 2019
Local Markets Commentary
The Australian market commences mid-week trade after US-China trade negotiations resumed overnight, with some overnight key commodity price gains, further major domestic stocks reporting earnings, and a batch of large-cap domestic companies trading ex-dividend.
Locally today, the December quarter wage price index is due 11.30am AEDT.
Westpac and the Melbourne Institute also publish their monthly leading index report then.
AGL, DHG, DOW, NCM and SUN are among stocks trading ex-dividend. Please see p5 for details.
Regionally, Japan reports January trade figures 10.50am AEDT.
In overnight commodities trade, WTI crude headed yet higher, but Brent was pushed slightly lower.
US gold futures (April) began the week with a rally.
Iron ore (China port, 62% Fe) also posted a stronger gain.
LME copper continued relatively strong, and nickel picked up the pace of its current string of gains.
The $A appreciated to ~US71.70c after falling below ~US71.10c early yesterday evening.
Overseas Market Commentary
Vacillating sentiment was demonstrated across major European and US equities markets overnight, as US-China trade negotiations resumed in Washington, 16 US States initiated court action against Friday’s Mexico-US border emergency declaration, and amid little optimism for any UK-European Union separation arrangements being approved this week.
The US announced the trade talks would involve high-level representatives again from Thursday, and China confirmed its chief economic advisor and vice premier Liu He would attend.
In the UK, year-on-year December earnings were reported 3.4% higher, the same as for November.
December quarter productivity rose by 0.2% after falling 0.4% during the September quarter.
January new unemployment claims fell to 14,200 from 20,200 during December.
In scant US reports, a home builders’ sentiment index rose by four points to a four-month peak of 62, in part supported by lower mortgage rates.
Tonight in the US, Federal Reserve policy meeting minutes are keenly anticipated.
Weekly mortgage applications are also due.
Companies scheduled to report earnings later today or tonight include: CVS Health, Glencore, and Lloyds.
In overnight corporate news, HSBC’s $US19.9B pre-tax full year profit undershot expectations, even while coming in 16% greater than for 2017.
Honda announced it would close its vehicle manufacturing facility in Swindon, UK in 2021, due to global markets uncertainty.
US retailer Walmart reported pre-trade, bolstering futures with better-than-expected January quarter sales and a further 43% increase in online sales, while warning overall FY 2020 earnings would fall.
Late last week, major US investors reported their December quarter investment changes, and these have appeared to impact broad tech sentiment.
The Australian market commences mid-week trade after US-China trade negotiations resumed overnight, with some overnight key commodity price gains, further major domestic stocks reporting earnings, and a batch of large-cap domestic companies trading ex-dividend.
Locally today, the December quarter wage price index is due 11.30am AEDT.
Westpac and the Melbourne Institute also publish their monthly leading index report then.
AGL, DHG, DOW, NCM and SUN are among stocks trading ex-dividend. Please see p5 for details.
Regionally, Japan reports January trade figures 10.50am AEDT.
In overnight commodities trade, WTI crude headed yet higher, but Brent was pushed slightly lower.
US gold futures (April) began the week with a rally.
Iron ore (China port, 62% Fe) also posted a stronger gain.
LME copper continued relatively strong, and nickel picked up the pace of its current string of gains.
The $A appreciated to ~US71.70c after falling below ~US71.10c early yesterday evening.
Overseas Market Commentary
Vacillating sentiment was demonstrated across major European and US equities markets overnight, as US-China trade negotiations resumed in Washington, 16 US States initiated court action against Friday’s Mexico-US border emergency declaration, and amid little optimism for any UK-European Union separation arrangements being approved this week.
The US announced the trade talks would involve high-level representatives again from Thursday, and China confirmed its chief economic advisor and vice premier Liu He would attend.
In the UK, year-on-year December earnings were reported 3.4% higher, the same as for November.
December quarter productivity rose by 0.2% after falling 0.4% during the September quarter.
January new unemployment claims fell to 14,200 from 20,200 during December.
In scant US reports, a home builders’ sentiment index rose by four points to a four-month peak of 62, in part supported by lower mortgage rates.
Tonight in the US, Federal Reserve policy meeting minutes are keenly anticipated.
Weekly mortgage applications are also due.
Companies scheduled to report earnings later today or tonight include: CVS Health, Glencore, and Lloyds.
In overnight corporate news, HSBC’s $US19.9B pre-tax full year profit undershot expectations, even while coming in 16% greater than for 2017.
Honda announced it would close its vehicle manufacturing facility in Swindon, UK in 2021, due to global markets uncertainty.
US retailer Walmart reported pre-trade, bolstering futures with better-than-expected January quarter sales and a further 43% increase in online sales, while warning overall FY 2020 earnings would fall.
Late last week, major US investors reported their December quarter investment changes, and these have appeared to impact broad tech sentiment.