Monday: 1st May 2017
Each Market In Focus
- The Australian market looks set to open flat, following negative performances on international markets in the previous session.
- At 7.00 a.m. AEST on Monday, the share price futures index was up two points at 5,915.
- Locally, in economic news on Monday, the Ai Group’s performance of manufacturing (PMI) index for April is scheduled for release, while CoreLogic releases its capital city house prices for the week just ended.
- In equities news, building products maker Big River Industries is due to list on the ASX, with an indicative market value of about $77 million.
- The Australian market on Friday eked out a tiny gain to close higher for a sixth straight session despite a mixed performance in the heavyweight banking and mining sectors.
- The benchmark S&P/ASX200 index rose 2.6 points, or 0.04 per cent, to 5,924.1 points.
- The broader All Ordinaries index lifted 3.2 points, or 0.05 per cent, to 5,947.6 points.
AUS Emeco Holdings Ltd (EHL.AU) Full year 2016 AGM / Webcast
AUS Washington H Soul Pattinson Full year 2016 Dividend payment date & Company Limited (SOL.AU)
AUS Ozforex Group Ltd (OFX.AU) Interim 2017 Ex-dividend date
NZ Nov REINZ Monthly Housing Price Index
NZ Nov REINZ Residential Market Report
NZ Oct Accommodation Survey
NZ Q3 Wholesale Trade Survey
AUS Oct Lending Finance
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)
Scans Powered by Metastock. Click here for more information
- Stocks have edged lower on Wall Street after data showing that the US economy grew at its weakest pace in three years in the first quarter gave traders a reason to cash recent gains.
- Major indexes closed up for April, however, with the Nasdaq up for six consecutive months, the longest streak in nearly four years.
- Gross domestic product grew at a 0.7 per cent annual rate, below the 1.2 per cent rise estimated by economists, as consumer spending barely increased and businesses invested less in inventories.
- The economy grew at a 2.1 per cent pace in the fourth quarter.
- The soft growth data is bad news for the Trump administration after campaign promises to significantly boost growth and adds to concerns among some in the market that lower taxes, deregulation and increased government spending – the main reasons for a post-election rally – will be, at the least, delayed.
- Both the Dow Jones Industrial Average and the S&P 500 lost 0.19 per cent while the Nasdaq Composite dropped 0.02 per cent.
- Gold for June delivery meanwhile crept up 0.2% to $1,268.30 a troy ounce, as U.S. data showing the slowest economic growth in three years raised doubts over the country’s expansion and stability.
- IRON ORE: $75.54 +4.41%
- Oil prices rebounded on Friday as traders appeared to be closing out a recent raft of bearish bets.
- April turned out to be a bad month for oil, with stockpiles still growing at times despite widespread expectations that global output cuts would start causing them to drain. U.S. crude finished the month down 2.5%, causing back-to-back monthly losses for the first time since last summer.
- Light, sweet crude for June delivery settled up 36 cents, or 0.7%, at $49.33 a barrel on the New York Mercantile Exchange.
- Brent crude, the global benchmark, gained 29 cents, or 0.6%, to $51.73 a barrel on ICE Futures Europe.
- For the month, Brent ended down $1.10, or 2.1%, for the month, its fourth losing month in a row, the worst such stretch since early 2016.
- The U.S. dollar advanced against the yen on Friday, finishing with a weekly gain, after official data showed labor costs and U.S. economic growth improved modestly during the first quarter.
- However, the greenback’s slide against the euro extended to a second week as signs of a nascent economic recovery, and centrist candidate Emmanuel Macron’s first-place finish in Sunday’s French election vote.
- One dollar bought ¥111.43 late Friday in New York, compared with ¥111.26 late Thursday in New York.
- The greenback traded as high as ¥111.80 earlier in the week, its strongest level since late March.
- The U.S. economy expanded by a meager 0.7% in the first quarter, the weakest pace of growth in three years. However, the 0.8% increase in employment costs, widely believed to be a leading indicator for consumer-price inflation, was stronger than expected.
- This provided some relief for the dollar, which has weakened sharply against the yen since the beginning of the year.
- The Australian dollar is steady against its US counterpart despite volatility.
- At 7.00 a.m. AEST on Monday, the Australian dollar was worth 74.73 US cents, virtually from 74.74 US cents on Friday.
- European shares eased as investors took profits, but closed out their strongest week since December as political worries ebbed and brokers forecast strong earnings growth would underpin valuations.
- The pan-European FTSEurofirst 300 index lost 0.23 per cent and MSCI’s gauge of stocks across the globe shed 0.11 per cent.
- At six straight months of gains, MSCI’s index was set to notch its longest monthly winning streak since 2006.
- Inflation blew past expectations in Europe to hit a three-year high, keeping pressure on the European Central Bank to start dialling back its stimulus measures.
- Germany’s DAX was steady, down just 0.05 per cent. Britain’s top share index dipped on Friday as disappointing results weighed on banking heavyweight Barclays, with UK blue chips sealing their biggest one-month fall since November 2016.
- The FTSE 100 index closed 0.46 per cent lower, underperforming broader European markets.
- The UK’s GDP reading for the first quarter came in weaker than expected earlier on Friday, as a rise in inflation hit consumer-facing businesses, with the economy slowing sharply. On the day, bank earnings were in focus.
- Asian stocks slipped on Friday as investors took profits after a strong week.
- MSCI’s broadest index of Asia-Pacific shares outside Japan lost 0.15 per cent, while Japan’s Nikkei slid 0.29 per cent.
- Hong Kong’s benchmark stock index eased from the previous session’s 20-month high that was aided by continuous money inflows from mainland China.
- The Hang Seng index fell 0.34 per cent, while the China Enterprises Index lost 0.4 per cent.
- For the week, the Hang Seng was up 2.4 per cent, while the HSCE gained 1.8 per cent.
- Chinese investors used roughly 14.2 of the daily quota buying Hong Kong stocks via the Shanghai-Hong Kong Stock Connect, compared with just 6.1 per cent in the other direction.
- Sector performance was mixed.
- China’s main stock indexes were little changed.
- The blue-chip CSI300 index fell 0.2 per cent.
- But the Shanghai Composite Index edged up 0.08 per cent.
- The S&P/NZX 50 Index gained 24 points, or 0.3 per cent, to 7378.58.
Important News Events For Today
“Change is the end result of all true learning”. – Leo Buscaglia
*Now you know everything.*