Disclaimer: All information on this section is of a general nature.
Before making any investment decision, you should seek the relevant advice.
Market Opener – 11 Mar 2019
Local Markets Commentary
The Australian market opens a new week’s trade with three States and the ACT observing public holidays and key data out of China over the weekend, plus largely negative overnight Friday international equities and commodities leads.
Yesterday, China published February new loans, which totalled 885.8B yuan against 3230B yuan in January.
Saturday, China reported 1.0% February CPI growth for the month and 1.5% year-on-year, against 0.5% and 1.7% respectively for January.
Producer prices rose 0.1% year-on-year, the same rate as reported in January.
Foreign direct investment figures are anticipated anytime from today.
Locally today, a weekly capital city home price index is due pre-trade.
EQT, LOV, NBL and OZL are among stocks trading ex-dividend today. Please see p3 for a comprehensive list.
In overnight Friday commodities trade, oil turned lower.
US gold futures (April) swung higher and rallied.
LME copper and nickel extended Thursday’s falls and aluminium again settled slightly higher.
Iron ore (China port, 62% Fe) dropped.
The $A appreciated to ~US70.5c after trading at ~US70.05c early Friday evening.
Overseas Market Commentary
Major European and US equities markets fell on opening overnight Friday, but closed at or near session highs.
Data out of China earlier Friday, and then the US pre-trade, and also the euro zone, appeared to bruise risk sentiment the most.
Select US February employment figures shocked, the number of jobs created estimated at 20,000, against expectations of ~150,000 - ~180,000.
Wages were reported 3.4% higher year-on-year, however, the best annualised rate in ~10 years.
In addition, the January new jobs tally was revised upwards by 7000, to 311,000, producing an 186,000 three-month average.
The unemployment rate fell to 3.8% from 4.0%.
Earlier Friday, China had reported its trade surplus with the US had fallen during February from $US27.3B to $14.7B.
In other overnight Friday data releases, US January housing starts came in 18.6% higher for the month, but 7.8% lower year-on-year.
Germany’s January factor orders dropped 2.6% for the month, following a 0.9% December increase.
Tonight in the US, the US president’s new (2020) budget proposal is expected in Congress.
Among data releases, January retail sales and December business inventories are due.
Elsewhere, Germany reports January trade and industrial production figures
In the UK commentary and scenario speculation is expected to dominate, ahead of a new parliamentary vote tomorrow night on plans governing the European Union (EU) separation.
Two additional, associated votes are scheduled for Wednesday and Thursday, pending Tuesday’s outcomes.
Over the weekend, the EU offered a small concession associated with border arrangements with Ireland (a remaining EU member).
The Australian market opens a new week’s trade with three States and the ACT observing public holidays and key data out of China over the weekend, plus largely negative overnight Friday international equities and commodities leads.
Yesterday, China published February new loans, which totalled 885.8B yuan against 3230B yuan in January.
Saturday, China reported 1.0% February CPI growth for the month and 1.5% year-on-year, against 0.5% and 1.7% respectively for January.
Producer prices rose 0.1% year-on-year, the same rate as reported in January.
Foreign direct investment figures are anticipated anytime from today.
Locally today, a weekly capital city home price index is due pre-trade.
EQT, LOV, NBL and OZL are among stocks trading ex-dividend today. Please see p3 for a comprehensive list.
In overnight Friday commodities trade, oil turned lower.
US gold futures (April) swung higher and rallied.
LME copper and nickel extended Thursday’s falls and aluminium again settled slightly higher.
Iron ore (China port, 62% Fe) dropped.
The $A appreciated to ~US70.5c after trading at ~US70.05c early Friday evening.
Overseas Market Commentary
Major European and US equities markets fell on opening overnight Friday, but closed at or near session highs.
Data out of China earlier Friday, and then the US pre-trade, and also the euro zone, appeared to bruise risk sentiment the most.
Select US February employment figures shocked, the number of jobs created estimated at 20,000, against expectations of ~150,000 - ~180,000.
Wages were reported 3.4% higher year-on-year, however, the best annualised rate in ~10 years.
In addition, the January new jobs tally was revised upwards by 7000, to 311,000, producing an 186,000 three-month average.
The unemployment rate fell to 3.8% from 4.0%.
Earlier Friday, China had reported its trade surplus with the US had fallen during February from $US27.3B to $14.7B.
In other overnight Friday data releases, US January housing starts came in 18.6% higher for the month, but 7.8% lower year-on-year.
Germany’s January factor orders dropped 2.6% for the month, following a 0.9% December increase.
Tonight in the US, the US president’s new (2020) budget proposal is expected in Congress.
Among data releases, January retail sales and December business inventories are due.
Elsewhere, Germany reports January trade and industrial production figures
In the UK commentary and scenario speculation is expected to dominate, ahead of a new parliamentary vote tomorrow night on plans governing the European Union (EU) separation.
Two additional, associated votes are scheduled for Wednesday and Thursday, pending Tuesday’s outcomes.
Over the weekend, the EU offered a small concession associated with border arrangements with Ireland (a remaining EU member).