Tuesday: 23rd May 2017
Each Market In Focus
- At 8.00 a.m. AEDT on Tuesday, the local share price index was up 12 points, or 0.21 per cent, at 5,794..
- Australian shares managed their strongest advance in six weeks Monday, buoyed by resources stocks that got help from a lift in commodity prices.
- A recovery by the big banks following three weeks of declines also lent weight to the day’s push, snapping a run lower over the past three sessions.
- The S&P/ASX 200 finished 438 points, or 0.8%, higher at 5771.2; only the consumer and health-care sectors were excluded from the broad gains.
- The energy subindex notched up a 2.2% rise as crude-oil prices continued to climb in Asian trading ahead of a meeting of the Organization of the Petroleum Exporting Countries in Vienna on Thursday to discuss extending their agreement to cut production.
- The basket of materials stocks also saw a strong gain as Chinese iron-ore futures continued to rise.
AUS Metminco (MMCLF) Full year 2016 AGM
AUS Spark Infrastructure Group Full year 2016 AGM (SKI.AU)
AUS Technology One Ltd (TNE.AU) Interim 2017 Results
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AUS Woodside Petroleum (WPL.AU) Investor Briefing Day [invitation only] N/A AUS TPG Telecom Ltd (TPM.AU) Interim 2017 Dividend payment date
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AUS Challenger Limited (CGF.AU) Investor Day / Webcast [invitation only]
NZ Apr International Visitor Arrivals
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. ( 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. ( source Metastock)
Scans Powered by Metastock. Click here for more information
- US stocks have risen, boosted by technology shares and by defence companies, which gained after the United States and Saudi Arabia signed a multi-billion dollar arms deal.
- Trump visited Saudi Arabia over the weekend and sealed $US110 billion in deals. Riyadh will buy US arms to help it counter Iran, with options running as high as $US350 billion over 10 years.
- It was his first foreign trip since taking office and one the White House hopes will shift the focus away from domestic controversies such as his firing of the former Federal Bureau of Investigation chief and investigations into his administration’s possible links to Russia.
- The Dow Jones Industrial Average closed up 0.43 per cent at 20,894.83
- The S&P 500 gained 0.52 per cent to 2,394.02
- The Nasdaq Composite added 0.82 per cent to 6,133.62.
- Gold prices rose to a three-week high on Monday, bolstered by a weaker U.S. dollar and political concerns that have reignited interest in safe-haven assets.
- Gold for June delivery settled up 0.6% at $1,261.40 a troy ounce on the Comex division of the New York Mercantile Exchange, closing at the highest level since April 28.
- Meanwhile, copper prices rose 0.5% to $2.5955 a pound in New York, also closing near a three-week high.
- IRON ORE: $61.94 +0.03( May contract )
- Oil prices rose to a fresh one-month high Monday, with traders expecting this week’s OPEC meeting to end with an extension or even deepening of the group’s recent output cuts.
- It was the 10th winning session of the last 12, one of several lengthy rallies in recent months largely tied to the Organization of the Petroleum Exporting Countries.
- Falling stockpiles this month in the U.S. have some convinced that cuts from the group of global exporters are impacting supply, and crude prices are up 11% since they hit a six-month low May 4.
Light, sweet crude for June settled up 40 cents, or 0.8%, at $50.73 a barrel on the New York Mercantile Exchange.
The June contract expired at settlement. The more actively traded July contract settled up 46 cents, or 0.9%, to $51.13 a barrel.
Brent gained 26 cents, or 0.5%, to $53.87 a barrel on ICE Futures Europe.
The U.S. dollar continued to slide Monday as investors await speeches from Federal Reserve officials.
The index slid 1.6% last week, its biggest decline since last July.
The U.S. dollar has been whipsawed recently by uncertainty surrounding the Trump administration, which investors fear will erode the administration’s ability to push through tax-reform and fiscal-stimulus proposals.
The WSJ Dollar Index had surged to a 14-year-high after the election on hopes that Mr. Trump’s economic proposals would boost the economy.
The index has now given back roughly 90% of those gains.
- The Australian dollar is solidly higher against its US counterpart as the greenback continues to soften.
- At 7.00 a.m. AEST on Tuesday, the Australian dollar was worth 74.75 US cents, up from 74.45 US cents on Monday.
- The euro surged to a more than six-month high on Monday after German Chancellor Angela Merkel said it was “too weak”, while European shares struggled to maintain momentum.
- The pan-European FTSEurofirst 300 index lost 0.09 per cent while MSCI’s gauge of stocks across the globe gained 0.43 per cent.
- Britain’s exporter-heavy benchmark share index outperformed European benchmarks as the pound retreated below the psychologically important $US1.30 level, while individual broker updates sent some stocks lower.
- Sterling fell after two weekend polls showed Prime Minister Theresa May’s ruling Conservatives losing ground after parts of its election manifesto came under fire.
- Along with strength in commodities stocks, the weaker pound propelled the FTSE 100 to a 0.34 per cent gain, to 7,496.34, holding near last week’s record highs, and outperforming the Euro zone STOXX 600 which fell 0.2 per cent.
- Germany’s DAX fell 0.15 per cent to 12,619.46.
- Asian stocks posted their biggest daily rise in a month.
- MSCI’s broadest index of Asia-Pacific shares outside Japan closed 1.05 per cent higher, while Japan’s Nikkei rose 0.45 per cent to 19,678.28.
- The bounce in Asian stocks was the best performance since April 25, with gains of more than 17 per cent for the MSCI emerging stocks index compared to 8 per cent for the world index even as some investors grew wary of the outlook.
- Hong Kong’s benchmark share index ended at its highest close in 22 months, helped by buoyant sentiment and steady money inflows from mainland China.
- The Hang Seng index rose 0.86 per cent to 25,391.34 points, while the China Enterprises Index gained 1.0 per cent to 10,374.32 points.
- Shanghai stocks reversed earlier gains to end lower as lingering worries over economic growth and tighter regulations to curb speculative investments hurt risk appetite.
- The blue-chip CSI300 index rose 0.22 per cent, to 3,411.24, while the Shanghai Composite Index lost 0.48 per cent to 3,075.68 points.
- The S&P/NZX 50 Index rose 0.2 per cent to 7409.5.
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