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Market Opener – 26 Mar 2018
Local Markets Commentary
The Australian market commences two shortened weeks’ trade amid intensifying international geopolitical disputes and following further negative equities trade overnight Friday, as three large-cap domestic stocks trade ex-dividend.
In mixed commodities trade, oil and gold were pushed decisively higher. This is expected to support select stocks during today’s trade.
LME copper and other key base metals continued lower.
Iron ore (China port, 62% Fe) dropped.
The $A was pushed below US77.0c again after appreciating to US77.25c early Fridayevening.
Since overnight Friday trade, China has continued to threaten the US with retaliatory measures in response to new trade tariffs, a vice premier reportedly delivering, via a phone link-up, trade rule allegations against the US to US treasury secretary Steven Mnuchin.
In Europe, Spain’s government yesterday secured the detention in Germany of the former pro-independence leader of the Catalan government.
This morning (AEDST), Israel has reported coming under intensifying attacks from Palestinian interests.
Meanwhile the US president has over the past few hours has seemingly sought to bolster perceptions of his position in the probe concerning Russia’s alleged interference in the 2016 US election.
Locally today, a weekly capital city residential property price report is due pre-trade.
Companies trading ex-dividend include CWP, SEK and SVW. Please see pp3-4 for detailed information.
Overseas Market Commentary
Major European and US equities markets reacted for further geopolitical angst overnight Friday.
The US president threatened to veto a $US1.3 trillion spending bill, but during US trade signed the legislation, averting a potential shutdown of some government administrative services from overnight Friday, but delivering the proviso that he would not again approve a similar plan.
In addition, the Department of Justice & US Treasury publicly accused Iran of intellectual property (IP) theft via ‘massive, co-ordinated cyber intrusions’.
Post-US trade Thursday, the US president had announced a new national security adviser, and reports emerged at least one more senior staff member would go.
Meanwhile, China released a list of possible new taxes on US imports.
In Europe, Spain’s national government ordered the arrest of former Catalan government leaders, and executed an international warrant for the detention of the former head of Catalonia’s regional government during the vote for independence.
Among economic data releases tonight, the Chicago Fed national activity and Texas region manufacturing indices due in the US.
Companies scheduled to report earnings or updates later today and tonight include Agricultural Bank of China, Angang Steel and Spotify.
The Australian market commences two shortened weeks’ trade amid intensifying international geopolitical disputes and following further negative equities trade overnight Friday, as three large-cap domestic stocks trade ex-dividend.
In mixed commodities trade, oil and gold were pushed decisively higher. This is expected to support select stocks during today’s trade.
LME copper and other key base metals continued lower.
Iron ore (China port, 62% Fe) dropped.
The $A was pushed below US77.0c again after appreciating to US77.25c early Fridayevening.
Since overnight Friday trade, China has continued to threaten the US with retaliatory measures in response to new trade tariffs, a vice premier reportedly delivering, via a phone link-up, trade rule allegations against the US to US treasury secretary Steven Mnuchin.
In Europe, Spain’s government yesterday secured the detention in Germany of the former pro-independence leader of the Catalan government.
This morning (AEDST), Israel has reported coming under intensifying attacks from Palestinian interests.
Meanwhile the US president has over the past few hours has seemingly sought to bolster perceptions of his position in the probe concerning Russia’s alleged interference in the 2016 US election.
Locally today, a weekly capital city residential property price report is due pre-trade.
Companies trading ex-dividend include CWP, SEK and SVW. Please see pp3-4 for detailed information.
Overseas Market Commentary
Major European and US equities markets reacted for further geopolitical angst overnight Friday.
The US president threatened to veto a $US1.3 trillion spending bill, but during US trade signed the legislation, averting a potential shutdown of some government administrative services from overnight Friday, but delivering the proviso that he would not again approve a similar plan.
In addition, the Department of Justice & US Treasury publicly accused Iran of intellectual property (IP) theft via ‘massive, co-ordinated cyber intrusions’.
Post-US trade Thursday, the US president had announced a new national security adviser, and reports emerged at least one more senior staff member would go.
Meanwhile, China released a list of possible new taxes on US imports.
In Europe, Spain’s national government ordered the arrest of former Catalan government leaders, and executed an international warrant for the detention of the former head of Catalonia’s regional government during the vote for independence.
Among economic data releases tonight, the Chicago Fed national activity and Texas region manufacturing indices due in the US.
Companies scheduled to report earnings or updates later today and tonight include Agricultural Bank of China, Angang Steel and Spotify.