Friday: 3rd February 2017
Each Market In Focus
At 8.00 a.m. AEDT on Friday, the share price futures index was up 6 points at 5,604
- Australian shares faltered for a third session this week, shedding early gains as investors await the start of the corporate earnings season next week.
- Uncertainty continues to hang over the market as the global spotlight remains fixed on U.S. President Donald Trump’s early days in office and contentious policies, including a
proposal to restrict immigration.
- Most sectors were in the red for the day, with only the materials and energy subindexes ticking slightly higher.
AUS James Hardie Industries plc Q3 2017 Earnings conference call /Webcast
AUS James Hardie Industries plc Q3 2017 Results
AUS Jan Australian PSI
AUS Jan VFACTS vehicle sales
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 fell after President Donald Trump’s latest remarks on trade. In a meeting with lawmakers, Trump said he would like to speed up talks to either renegotiate or replace the North American Free Trade Agreement.
- Trump also told reporters separately that “nothing is off the table” in dealing with Iran after its recent ballistic missile test. His comments came a day after his national security adviser put Tehran “on notice” over the test.
- Investors also focused on solid economic readings from around the globe on manufacturing and inflation that suggest an improvement in 2017 as they positioned ahead of Friday’s US nonfarm payrolls report.
- The Dow Jones Industrial Average was down 0.13 per cent to 19,864.30
- S&P 500 had shed 0.13 per cent, to 2,276.5
- Nasdaq Composite had dropped 0.24 per cent to 5,629.27.
- Gold prices rose to the highest level in more than two months, boosted by a lower dollar and demand for safe haven assets.
- Gold for April delivery settled up 0.9% at $1,219.40 a troy ounce on the Comex division of the New York Mercantile Exchange, closing at its highest level since Nov. 16.
- Copper prices fell as investors assessed the impact of a potential strike at a major mine and took profits from recent gains. Copper for March delivery settled down 1% at $2.6855 a pound on the Comex division of the New York Mercantile Exchange, closing out its second day of losses.
- IRON ORE: $84.00 +0.88 ( February contract )
- Crude-oil futures fell, as investors weighed signs of falling production and rising inventories.
- Light, sweet crude for March delivery fell 34 cents, or 0.63%, to $53.54 a barrel on the New York Mercantile Exchange
- Brent, the global benchmark, fell 24 cents, or 0.42%, to $56.56 a barrel on ICE Futures Europe.
- The U.S. dollar fell to its lowest level in more than two months against other currencies intraday, as doubts grew about whether the new presidential administration will prioritize promises to cut taxes and boost fiscal spending.
- Some investors are concerned that the White House has lately focused on trade issues and diplomatic matters, rather than the promised tax reductions and ramped-up infrastructure spending that had fueled a postelection rally in markets.
- The Australian dollar has risen above the 76.50 US cent mark, continuing its strong gains against its US counterpart.
- At 7.00 a.m. AEDT on Friday, the Australian dollar was worth 76.59 US cents, up from 76.43 from Thursday.
- European shares have slipped, weighed down by disappointing earning updates from Danish drugmaker Novo Nordisk and German lender Deutsche Bank.
- The pan-European STOXX 600 index fell 0.3 per cent, while Britain’s FTSE outperformed with a gain of 0.5 per cent after the Bank of England appeared to be in no rush to tighten monetary policy in its latest inflation report.
- After an 11-week-long rally on hopes of a big stimulus boost under the new US administration, investors have turned more cautious over Donald Trump, expressing concerns over the impact of his controversial protectionist policies.
- That has caused European shares to come off 13-month highs hit in January, with the STOXX 600 down around 1 per cent so far this week, on track for its biggest weekly loss since the US presidential election in early November.
- Deutsche Bank fell 5.2 per cent after posting a net loss of 1.9 billion euros ($A2.7 billion) in the fourth quarter as legal costs for past misdeeds outstripped gains from a rebound in bond trading.
- Outside of Japan, shares were up, but Tokyo and Hong Kong fell. Hong Kong stocks fell on Thursday, with Property stocks led the Hang Seng’s slide, as investors continued to lock in gains after the US Federal Reserve stuck to its mildly upbeat economic view but gave no hint of when it would next raise interest rates.
- The property subindex fell 0.7 per cent. Shares of Sino Land Co Ltd , which rose 11 per cent in January, fell 1.4 per cent.
- China Resources Land Ltd slid 1.5 per cent.
- Macau gaming stocks remained weak after the world’s biggest casino hub posted a less-than-expected rise in January gambling revenue.
- The benchmark Hang Seng index slid 0.6 per cent to end at 23,184.52 points, while the China Enterprises Index also fell 0.6 per cent, to 9,696.32 points.
- China’s markets remained shut for the Lunar New Year holiday and will resume trade on Friday.
- The S&P/NZX50 Index dipped 1.96 points, or 0.03 per cent, to 7.035.54.
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