Tuesday: 11th April 2017
Each Market In Focus
- The Australian market looks set to open flat, mimicking international markets with investors heading for safer bets amid perceived greater geopolitical risks with increasing tension over Syria and North Korea.
- At 8.00 a.m. AEST on Tuesday, the share price futures index was down two points, or 0.03 per cent, at 5,899.
- Investors, generally, have headed to bonds and other safe-haven assets amid growing concern over Syria following the US airstrike and North Korea’s weapons tests.
- Locally, in economic news on Tuesday, the National Australia Bank’s monthly business survey for March is is due out.
- No major equities news is expected.
- The Australian market on Monday hit its highest level in two years amid investor optimism after events in Syria did not escalate and a range of other positive economic developments.
60 Day High. This is a list of codes that made a new 60 day High in the past 2 days. We use the 60 day high as this would infer that a breakout in price has occurred after a period of consolidation OR the stock is moving up 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 )
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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- US stocks have ended a choppy trading session flat as gains in energy shares offset losses in financials ahead of quarterly earnings later this week.
- The S&P energy index, up 1.1 per cent, was the best-performing S&P 500 sectorin late-day trading, following gains in oil prices.
- Investors prepared for the start of quarterly profit reports, with earnings of S&P 500 companies estimated to have risen 10.1 per cent in the first three months of the year.
- The index is currently trading at 17.4 times forward earnings estimates, above its long-term average of 15.
- The Dow Jones Industrial Average rose 0.01 per cent to 20,658.02
- The S&P 500 gained 0.07 per cent to 2,357.16
- The Nasdaq Composite added 0.05 per cent to 5,880.93.
- Gold prices fell as investors dialed back worries about geopolitical tension to focus on hawkish comments from the Federal Reserve.
- IRON ORE: $75.28 -1.63 ( April contract )
- Oil prices are on their longest winning streak since August as production outages in Libya and Canada, and concerns related to last week’s U.S. airstrike in Syria add further fuel to a rally.
- Prices hit fresh one-month highs, the latest peak in a rally that has gone almost uninterrupted for two weeks. U.S. oil futures have fallen in only one session since March 27.
- Light, sweet crude for May settled up 84 cents, or 1.6%, at $53.08 a barrel on the New York Mercantile Exchange the highest settlement since March 7.
- Brent crude, the global benchmark, gained 74 cents, or 1.3%, to $55.98 a barrel on ICE Futures Europe, its highest settlement since March 6.
- Both markets have gained in five-straight sessions.
- The U.S. dollar slipped Monday in quiet trading as investors await important U.S. economic data later in the week.
- he WSJ Dollar Index, which measures the U.S. currency against 16 others, fell 0.1% to 90.83.
- Investors remain focused on the health of the U.S. economy and the Federal Reserve’s plans for raising interest-rates.
- The Australian dollar has crept higher against its US counterpart to a slither above 75 US cents.
- At 7.00 AEST on Tuesday, the Australian dollar was worth 75.01 US cents, up from 74.88 US cents on Monday.
- London-listed shares steadied on Monday with retailers the top gainers, and mid- and small-caps rising to new record highs on strength in commodities.
- The blue-chip FTSE 100 index ended the day flat – mimicking a broadly flat European market – down 0.01 per cent at 7348.94.
- Higher oil prices pushed up the commodities-heavy small- and mid-cap indexes.
- The FTSE 250 set a record high at 19,277.99 points, closing 0.2 per cent higher at 19,264.60 points. Tullow Oil was the top gainer, up 5.7 per cent.
- Shares in BHP Billiton closed a strong session up 2.2 per cent, after hedge fund Elliott Advisors sent a letter to the miner proposing a plan to unlock shareholder value
- The plan involves scrapping BHP’s London Stock Exchange listing, demerging its US oil arm and revising its capital return policy.
- European stocks clung to a tiny 0.01 per cent gain as investors there focused on geopolitical risks, increasing tension on Syria and Korea, as well as the French elections.
- Top aides to US president Donald Trump differed on Sunday on where US policy on Syria was headed after last week’s attack on a Syrian air base, while US Secretary of State Rex Tillerson warned the strikes were a warning to other nations, including North Korea.
- Germany’s DAX closed 0.20 per cent lower at 3,269.39.
- Asian stocks slipped as increased geopolitical risks prompted investors to favour safe-haven bets such as government debt while the greenback was supported by Federal Reserve policy tightening expectations.
- The rise in risks of a conflict contrasts with market watchers’ outlook for the global economy, which is perhaps the most optimistic it has been in years, with Chinese data this week expected to show the economy performing well.
- MSCI’s broadest index of Asia-Pacific shares outside Japan fell for a third consecutive session, heading back towards a three-week low tested on Friday.
- But Tokyo’s Nikkei 225 bucked the trend, gaining 0.71 per cent to 18,797.88.
- Hong Kong stocks barely changed, with market turnover the lowest in two months with investors reluctant to place bets amid concerns over Syria and North Korea.
- The benchmark Hang Seng index was almost unchanged, down just 0.02 per cent at 24,262.18, while the Hong Kong China Enterprises Index lost 0.2 per cent, to 10,253.79.
- China stocks fell with strong gains in listed companies that would benefit from the country’s new economic zone offset by weakness in other sectors after the securities regulator vowed to punish stingy “iron roosters”.
- The blue-chip CSI300 index fell 0.3 per cent to 3,505.14 points, while the Shanghai Composite Index lost 0.52 per cent to 3,269.39 points.
- The S&P/NZX 50 index fell 4.9 points, or 0.1 per cent, to 7238.870.
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