Disclaimer: All information on this section is of a general nature.
Before making any investment decision, you should seek the relevant advice.
Market Opener – 21 Aug 2018
Local Markets Commentary
The Australian market commences today’s trade ahead of Reserve Bank of Australia (RBA) offerings, with another batch of earnings reports from influential domestic stocks, and other high-profile stocks trading ex-dividend, following broadly positive overnight international commodities trade.
Oil rose after closing out last week with two consecutive higher settlements.
US gold futures turned and rallied, while iron ore (China port 62% Fe) was also confirmed higher.
LME copper and aluminium swung higher, while nickel continued so.
The $A was propelled to ~US73.40c after trading at ~US73.05c early yesterday evening.
Locally today, a weekly consumer sentiment reading is due pre-trade.
The RBA publishes the minutes of its 7 August policy meeting 11.30am AEST.
Earlier this morning, RBA governor Philip Lowe again highlighted household debt concerns, ahead of any rate rise, at an Australian Securities & Investment Commission strategy launch.
Stocks trading ex-dividend today include CPU, IAG and REA. Details are listed on p4.
Overseas Market Commentary
Major European and US equities markets opened higher, DJIA and DAX gains subsequently never looking seriously threatened, but other indices vacillating variously.
Support came in part from corporate activity and price gains for oil, gold and base metals.
Earlier, China further underscored infrastructure spending plans announced over the past month.
The $US fell after the US president again bemoaned the Federal Reserve’s bent for higher rates, Federal Reserve Atlantic president Raphael Bostic proffered his view of at least one further rate rise before year’s end.
Turkey’s lira also fell again, due to a snatch of investment bank downgrades, including some negative outlooks.
Germany reported July producer prices had risen 3% year-on-year and 0.2% for the month, following a 0.3% rise in June.
Euro zone June construction output improved 0.19% for the month, following a 0.28% gain in May.
As with last night, no key data releases are scheduled in the US tonight.
Companies scheduled to report earnings today and tonight include BHP Billiton, John Wood Group, Kohl’s, Medtronic and Urban Outfitters.
In overnight corporate news, PepsiCo’s proposed $US3.2B purchase of Israel’s SodaStream pushed SodaStream ~10% higher.
Tyson Foods appreciated 1.6% on a planned $US2.16B acquisition of Brazil’s chicken nugget specialist Marfrig Global Foods.
Estee Lauder gained ~3% on quarterly earnings that exceeded expectations and a 5% - 6% further improvement in sales for the current quarter.
Nike advanced 3% on an analyst upgrade.
Numerous markets are closed throughout the Middle East and in select other nations today and/or through to the end of the week, due to Eid observance.
Singapore’s markets are scheduled to be closed tomorrow.
The Australian market commences today’s trade ahead of Reserve Bank of Australia (RBA) offerings, with another batch of earnings reports from influential domestic stocks, and other high-profile stocks trading ex-dividend, following broadly positive overnight international commodities trade.
Oil rose after closing out last week with two consecutive higher settlements.
US gold futures turned and rallied, while iron ore (China port 62% Fe) was also confirmed higher.
LME copper and aluminium swung higher, while nickel continued so.
The $A was propelled to ~US73.40c after trading at ~US73.05c early yesterday evening.
Locally today, a weekly consumer sentiment reading is due pre-trade.
The RBA publishes the minutes of its 7 August policy meeting 11.30am AEST.
Earlier this morning, RBA governor Philip Lowe again highlighted household debt concerns, ahead of any rate rise, at an Australian Securities & Investment Commission strategy launch.
Stocks trading ex-dividend today include CPU, IAG and REA. Details are listed on p4.
Overseas Market Commentary
Major European and US equities markets opened higher, DJIA and DAX gains subsequently never looking seriously threatened, but other indices vacillating variously.
Support came in part from corporate activity and price gains for oil, gold and base metals.
Earlier, China further underscored infrastructure spending plans announced over the past month.
The $US fell after the US president again bemoaned the Federal Reserve’s bent for higher rates, Federal Reserve Atlantic president Raphael Bostic proffered his view of at least one further rate rise before year’s end.
Turkey’s lira also fell again, due to a snatch of investment bank downgrades, including some negative outlooks.
Germany reported July producer prices had risen 3% year-on-year and 0.2% for the month, following a 0.3% rise in June.
Euro zone June construction output improved 0.19% for the month, following a 0.28% gain in May.
As with last night, no key data releases are scheduled in the US tonight.
Companies scheduled to report earnings today and tonight include BHP Billiton, John Wood Group, Kohl’s, Medtronic and Urban Outfitters.
In overnight corporate news, PepsiCo’s proposed $US3.2B purchase of Israel’s SodaStream pushed SodaStream ~10% higher.
Tyson Foods appreciated 1.6% on a planned $US2.16B acquisition of Brazil’s chicken nugget specialist Marfrig Global Foods.
Estee Lauder gained ~3% on quarterly earnings that exceeded expectations and a 5% - 6% further improvement in sales for the current quarter.
Nike advanced 3% on an analyst upgrade.
Numerous markets are closed throughout the Middle East and in select other nations today and/or through to the end of the week, due to Eid observance.
Singapore’s markets are scheduled to be closed tomorrow.