Friday: 24th February 2017
Each Market In Focus
- The Australian market looks set to open lower with Wall Street mixed after the US president again promised to bring back jobs to the US.
- At 8.00 a.m. AEDT on Friday, the share price futures index was down 9 points at 5,750.
- US stocks were buoyed by President Donald Trump’s renewed pledge to major company chief executives to bring back millions of jobs to the US.
- Locally, in economic news on Friday, Reserve Bank of Australia government will appear before the House of Representatives Economics Committee.
- In equities news, Billabong, Super Retail Group, Regis Healthcare, Murray Goulburn, Charter Hall Group and Automotive Holdings are expected to post results on Friday.
- Meanwhile, GrainCorp holds its annual general meeting
- The Australian market on Thursday lost ground on another busy day of company earnings reports, as a fall in commodity prices weighed on the big miners, and Rio Tinto traded without its latest dividend.
- AUS Corporate Travel Management Interim 2017 Earnings conference call / Webcast
- AUS RNY Property Trust (RNY.AU) Full year 2016 Earnings conference call
- AUS Cabcharge Australia Ltd Interim 2017 Results presentation
- NZ Vector Ltd (VCT.NZ) Interim 2017 Webcast
- AUS Mayne Pharma Group Limited Interim 2017 Earnings conference call / Webcast
- AUS Super Retail Group Ltd Interim 2017 Webcast
- AUS Charter Hall Group (CHC.AU) Interim 2017 Webcast
- AUS GrainCorp Ltd (GNC.AU) Full year 2016 AGM
- AUS Billabong International Ltd Interim 2017 Webcast
- AUS Regis Healthcare Ltd (REG.AU) Interim 2017 Earnings conference call / Webcast
- AUS RCG Corp Ltd (RCG.AU) Interim 2017 Earnings conference call / Webcast
- AUS Automotive Holdings Group Interim 2017 Earnings conference call / Webcast
- AUS Mineral Deposits Ltd. (MNLDF) Full year 2016 Results
- NZ NZME Ltd (NZM.NZ) Full year 2016 Results
- AUS Mayne Pharma Group Limited Interim 2017 Results
- AUS Goodman Group (GMG.AU) Interim 2017 Dividend payment date – proposed
- AUS James Hardie Industries plc Interim 2017 Dividend payment date
- AUS Super Retail Group Ltd Interim 2017 Results
- NZ Vector Ltd (VCT.NZ) Interim 2017 Results
- AUS RNY Property Trust (RNY.AU) Full year 2016 Results
- AUS RCG Corp Ltd (RCG.AU) Interim 2017 Results
- AUS Regis Healthcare Ltd (REG.AU) Interim 2017 Results
- AUS Evolution Mining Limited Interim 2017 Ex-dividend date
- AUS Billabong International Ltd Interim 2017 Results
- AUS BWP Trust (BWP.AU) Interim 2017 Dividend payment date – proposed
- AUS Beadell Resources Ltd (BDR.AU) Full year 2016 Results
- AUS Amcor Limited (AMC.AU) Interim 2017 Ex-dividend date
- AUS Automotive Holdings Group Interim 2017 Results
- AUS Corporate Travel Management Interim 2017 Results
- AUS Cromwell Property Group Interim 2017 Results
- AUS Computershare Ltd (CPU.AU) Interim 2017 Ex-dividend date
- AUS Cabcharge Australia Ltd Interim 2017 Results
- AUS Charter Hall Group (CHC.AU) Interim 2017 Results
- AUS RBA Governor Philip Lowe House of Representatives Econ Committee
60 Day Low. This is a list of codes that made a new 60 day LOW in the past 2 days. We use the 60 day low as this would infer that a breakdown in price has occurred after a period of consolidation OR the stock is declining each day if the code shows repeatedly. The filter uses an above 50 cent price filter, and the codes in Blue are on our watch list. ( source Metastock)
- US stocks have been buoyed by gains in the energy sector and a renewed pledge by President Donald Trump to chief executives of major US companies to bring back millions of jobs to the United States.
- Trump is expected to introduce a series of proposals that could benefit companies, including tax reforms, a reduction in regulation and increased infrastructure spending that were a part of his election campaign.
- Those promises have helped spur equities to record highs, with the S&P 500 up more than 10 per cent since the election.
- Investors, however, are looking for more clarity on the proposals, which has kept the benchmark S&P index in a tight daily trading range. It has failed to register a move of at least one per cent in either direction since December 7.
- Trump is scheduled to address a joint session of Congress on February 28.
- In late trading, the Dow Jones Industrial Average was up 0.24 per cent at 20,825.25.
- The S&P 500 had gained 0.06 per cent to 2,364.35
- The Nasdaq Composite had dropped 0.46 per cent to 5,833.74.
- Gold prices rose to their highest in over three months as investors brushed off concerns over an interest-rate increase and focused on global political risks.
- Gold for April delivery settled up 1.5% at $1,251.40 a troy ounce on the Comex devision of the New York Mercantile Exchange, trading at the highest level since Nov. 10.
- Meanwhile, copper prices dropped on questions over supply concerns at the world’s largest copper mine.
- Futures for May delivery fell 3.2% at $2.6590 a pound, closing at a two-week low.
- Iron Ore: $87.41 -0.07
- Oil prices settled higher but did not break out of the narrow band they’ve traded in this year after government data showed that the U.S. crude glut grew more slowly than expected last week.
- U.S. crude futures rose 86 cents, or 1.6%, to $54.45 a barrel on the New York Mercantile Exchange.
- Brent, the global benchmark, gained 74 cents, or 1.33%, to $56.58 on ICE Futures Europe.
- The U.S. dollar edged lower intraday, as investors bet that the Federal Reserve is unlikely to raise interest rates next month.
- The Wall Street Journal Dollar Index, which gauges the U.S. currency against a basket of 16 others, was recently down 0.4% at 90.75, on losses against the yen, euro and emerging markets.
- The Australian dollar is higher against its US counterpart and has once again jumped above the 77 US cent mark.
- At 7.00 a.m. AEDT on Friday, the Australian dollar was worth 77.14 US cents, up sharply from 76.97 US cents on Thursday.
- European shares fell, weighed down by a pull-back in banking and mining stocks in a day where trading activity was dominated by a raft of company earnings.
- Shares in British bank Barclays reversed course during the day to end down 2.6 per cent, as a surprise boost to its capital reserves failed to convince.
- Some analysts flagged concerns over the sustainability of the bank’s capital level in relation to the accounting treatment of its British pension scheme.
- Losses in Barclays and in HSBC, which continued its slide after a disappointing update earlier this week, resulted in a 1 per cent fall for Europe’s banking index.
- The pan-European STOXX 600 index ended down 0.1 per cent after hitting a 14-month high in the previous session.
- Germany’s DAX fell 0.42 per cent, with little impact from data confirming the country’s economy quadrupled its growth rate in the fourth quarter.
- London’s FTSE 100 also fell 0.42 per cent, to close at 7,271.37.
- Hong Kong stocks edged lower after Federal Reserve meeting minutes showed some policy uncertainty even as there was broad consensus on rates having to rise.
- The benchmark Hang Seng index dropped 0.37 per cent, to 24,114.86, while the Hong Kong China Enterprises Index lost 0.2 per cent, to 10,521.53.
- Most sectors retreated at the close in Hong Kong, led by resource stocks, which shed 1.1 per cent due to a weak commodities market on the mainland and the financial sector was down 0.6 per cent, as the Fed’s mixed stance hurt investor confidence in banks.
- China’s main stock indexes snapped a three-session winning streak to end lower, as expectations of new asset management rules and property taxes weighed on the market.
- The blue-chip CSI300 index fell 0.5 per cent, to 3,473.32 points, while the Shanghai Composite Index lost 0.3 per cent to 3,251.38 points.
- Japan’s Nikkei 225 closed flat on the downside, losing 0.04 per cent to close at 19,371.46.
- The S&P/NZX50 Index gained 27.04 points, or 0.4 per cent, to 7,089.52.
Important News Events For Today
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