Thursday: 13th April 2017
Each Market In Focus
- The Australian stock market is set to open lower after indices on Wall Street closed down on lingering geopolitical concerns and US President Donald Trump’s comments on the dollar and interest rates.
- At 7.00 a.m. AEST on Thursday the share price futures index was down 31 points, or 0.52 per cent, at 5,896.
- Locally, the market will be focused on the Australian jobs data and the Reserve Bank of Australia’s bi-annual Financial Stability Review, both due around mid-morning.
- In equities news, toll road operator Transurban will report quarterly traffic and revenue figures, while construction giant CIMIC holds its annual general meeting in Sydney.
- On Wednesday, the Australian share market eked out a tiny gain despite a sharp drop in Telstra shares.
- The benchmark S&P/ASX200 gained 4.7 points, or 0.08 per cent, to 5,934 points
- The broader All Ordinaries index gained 4.3 points, or 0.07 per cent, to 5,968.9.
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)
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- U.S. stocks eased on Wednesday and the S&P 500 closed below a key technical level for the first time since Election Day, pressured by lingering geopolitical concerns and President Donald Trump’s comments on the dollar and interest rates.
- Trump said in a Wall Street Journal interview that the dollar “was getting too strong,” though he also said he would like to see interest rates stay low.
- The dollar, which has risen along with prospects for higher rates, hurts profits at U.S. multinationals when it strengthens.
- Investors sought shelter in defensive shares and other low-risk assets. Rising U.S. tensions with Russia, North Korea and Syria after U.S missile strikes in Syria last week and the moving of U.S. warships toward the Korean Peninsula have kept investors cautious.
- The Dow Jones Industrial Average closed down 59.44 points, or 0.29 per cent, to 20,591.86
- The S&P 500 lost 8.85 points, or 0.38 per cent, to 2,344.93
- The Nasdaq Composite dropped 30.61 points, or 0.52 per cent, to 5,836.16.
- Gold rose on Wednesday afternoon after President Trump told The Wall Street Journal that the U.S. currency “is getting too strong.”
- IRON ORE: $73.43 -1.46( April contract )
- Oil prices ended a six-session streak of gains after federal data showed U.S. crude output continued its relentless growth. Crude prices slid, giving up earlier gains, after the U.S. Energy Information Administration reported U.S. producers boosted their output by 36,000 barrels a day last week, continuing a two-month string of weekly increases.
- U.S. crude futures settled down 29 cents, or 0.54%, at $53.11 a barrel on the New York Mercantile Exchange. Brent, the global benchmark, fell 37 cents, or 0.66%, to $55.86 a barrel on ICE Futures Europe.
- The U.S. dollar declined after President Donald Trump said in an interview with The Wall Street Journal that the currency “is getting too strong” and he would prefer to keep interest rates low.
- The WSJ Dollar Index, which measures the U.S. currency against 16 others, edged down 0.3% to 90.2. The index was essentially flat ahead of the Journal story. The dollar edged down 0.4% against the yen, after falling 1.2% selloff on Tuesday.
- Mr. Trump also said his administration won’t label China a currency manipulator in a report due this week.
- He left open the possibility of renominating Federal Reserve Chairwoman Janet Yellen once her tenure is up next year, a shift from his position during the campaign that he would “most likely” not appoint her to another term.
- Investors have also been spooked in recent days by rising tensions between the U.S., Russia and North Korea.
- The Australian dollar has gained after comments from US President Donald Trump overnight weakened the US dollar against major currencies.
- At 7.00 a.m. AEST on Thursday, the Australian dollar was at 75.18 US cents, up from 74.91 cents on Wednesday.
- European shares inched up on Wednesday, steadying around 16 month highs, helped by gains in Syngenta and a rally in defence stocks on investor concerns about lingering geopolitical risks.
- The pan-European STOXX 600 index rose 0.2 per cent but trading was choppy just a few days ahead a holiday break, while Germany’s DAX added 0.1 per cent and France’s CAC was flat.
- Syngenta was the biggest single-stock contributor to gains in the STOXX index, up 2.2 per cent, after ChemChina’s $43 billion planned takeover of the Swiss pesticides and seeds group received approval from Chinese regulators.
- Britain’s top share index inched lower on Tuesday after rising to a three-week high in the previous session, as results weighed on Tesco shares and the broader UK supermarket sector.
- The blue chip FTSE 100 index fell 0.2 per cent in light volume before a market holiday later in the week.
- Asian stocks slipped on Wednesday as investors ducked for cover amid a drumbeat of alarming geopolitical news.
- Japan’s Nikkei slid one per cent as a rising yen weighed on exporters’ shares, while E-mini futures for the S&P 500 were a fraction softer.
- MSCI’s broadest index of Asia-Pacific shares outside Japan was near flat.
- Chinese stocks slid as softer producer inflation data raised questions on the sustainability of the country’s economic recovery and some shares that had rallied on plans for a new economic zone lost steam.
- The Shanghai Composite Index lost 0.5 per cent to 3,273.83 points, but Hong Kong stocks broke a four-day losing streak as investors turned their attention to shares which could benefit from Beijing’s plan to more strongly integrate the economies of southern China, Hong Kong and Macau.
- The S&P/NZX 50 index fell 2.8 points, or 0.04 per cent, to 7251.55.
- Within the index, 17 stocks gained, 20 fell and 13 were unchanged. Turnover was $145 million.
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