Disclaimer: All information on this section is of a general nature.
Before making any investment decision, you should seek the relevant advice.
Market Opener – 19 Feb 2019
Local Markets Commentary
The Australian market opens today’s trade in the absence of overnight US equities and commodities trade leads, with additional China data in hand, as domestic earnings season continues strong, and ahead of a key Reserve Bank of Australia (RBA) release.
Post-ASX trade yesterday, China reported a 15.8% year-on-year drop in January vehicle sales, following 13% and 14% respective falls for December and November 2018.
Locally today, another swag of large-cap and high-profile stocks reports earnings.
Also keenly anticipated are the RBA’s February policy meeting minutes, due 11.30am AEDT, following bank official admissions that rates could go either way in the medium-term.
Pre-trade, a weekly consumer sentiment reading is due.
CPU, IPH and MFG are among stocks trading ex-dividend. Please see pp5-6 for details.
In overnight commodities trade, Brent crude continued higher, but only slightly so.
Iron ore (China port, 62% Fe) seesawed to a small gain.
LME copper rallied further. Nickel also extended Friday’s move higher.
The $A fell to ~US71.30c after trading at ~US71.55c early yesterday evening.
Overseas Market Commentary
Choppy, low-volume trade featured across major European equities markets overnight in the absence of major regional new economic indicator releases, and a hiatus of progress with geopolitical issues impacting both sides of the Atlantic, during a public holiday in the US.
US import tax threats against vehicles manufactured outside the US also appeared to weigh.
A presidential decision whether to proceed is anticipated within ~three months.
In the UK, seven opposition Labour Party parliamentarians quit their party, ahead of further expected vote(s) this week on plans to leave the European Union (EU) and/or hold another national referendum.
Tonight in the US, a home builders’ market sentiment index is due.
Companies scheduled to report earnings later today or tonight include: AngloGold Ashanti, BHP Billiton, Danone, HSBC, InterContinental, Lloyds Banking, Noble Energy, Walmart and Weibo.
The Australian market opens today’s trade in the absence of overnight US equities and commodities trade leads, with additional China data in hand, as domestic earnings season continues strong, and ahead of a key Reserve Bank of Australia (RBA) release.
Post-ASX trade yesterday, China reported a 15.8% year-on-year drop in January vehicle sales, following 13% and 14% respective falls for December and November 2018.
Locally today, another swag of large-cap and high-profile stocks reports earnings.
Also keenly anticipated are the RBA’s February policy meeting minutes, due 11.30am AEDT, following bank official admissions that rates could go either way in the medium-term.
Pre-trade, a weekly consumer sentiment reading is due.
CPU, IPH and MFG are among stocks trading ex-dividend. Please see pp5-6 for details.
In overnight commodities trade, Brent crude continued higher, but only slightly so.
Iron ore (China port, 62% Fe) seesawed to a small gain.
LME copper rallied further. Nickel also extended Friday’s move higher.
The $A fell to ~US71.30c after trading at ~US71.55c early yesterday evening.
Overseas Market Commentary
Choppy, low-volume trade featured across major European equities markets overnight in the absence of major regional new economic indicator releases, and a hiatus of progress with geopolitical issues impacting both sides of the Atlantic, during a public holiday in the US.
US import tax threats against vehicles manufactured outside the US also appeared to weigh.
A presidential decision whether to proceed is anticipated within ~three months.
In the UK, seven opposition Labour Party parliamentarians quit their party, ahead of further expected vote(s) this week on plans to leave the European Union (EU) and/or hold another national referendum.
Tonight in the US, a home builders’ market sentiment index is due.
Companies scheduled to report earnings later today or tonight include: AngloGold Ashanti, BHP Billiton, Danone, HSBC, InterContinental, Lloyds Banking, Noble Energy, Walmart and Weibo.