Tuesday: 31st January 2017
Each Market In Focus
The Australian market looks set to open lower, following the lead of overseas bourse which have fallen sharply after US President Donald Trump’s travel ban.
At 8.00 AEDT on Tuesday, the share price futures index was down 5 points at 5,5598.
Locally, in economic news on Tuesday, the Reserve Bank of Australia releases the monthly financial aggregates data.
In equities news, Fortescue Metals and Origin Energy are due to release quarterly production reports, while Navitas is expected to release half-year results and CYGB holds its annual general meeting in Melbourne.
Citi is expected to publish its earnings season preview.
The benchmark index on the local bourse on Monday fell below 2016’s close of 5665.8 points .
- AUS CYBG PLC (CYBG.LN) Full year 2016 AGM
- AUS Navitas Ltd (NVT.AU) Interim 2017 Webcast
- AUS Metminco (MMCLF) December Quarterly Activities Report
- AUS Mineral Resources (MIN.AU) December Quarterly Activities Report
- AUS Karoon Gas Australia Limited December Quarterly Report (KAR.AU)
- AUS Kingsgate Consolidated December Quarterly Activities Report Limited (KCN.AU)
- AUS Navitas Ltd (NVT.AU) Interim 2017 Results
- AUS Rex Minerals Limited (RXM.AU) December Quarterly Activities Report
- AUS White Energy Company (WEC.AU) Quarterly Activities Report
- AUS Origin Energy Ltd (ORG.AU) Quarterly Production Report
- AUS Programmed Maintenance Interim 2017 Dividend payment date Services Ltd (PRG.AU)
- AUS Beach Energy (BPT.AU) December Quarterly Report
- AUS Coal of Africa (CZA.AU) December Quarterly Report
- AUS AWE Ltd (X-AWWEF) December Quarterly Report
- AUS Baralaba Coal Company Quarterly Activities Report Limited (BCL.AU)
- AUS Credit Corp Group Ltd (CCP.AU) Interim 2017 Results
- AUS Iluka Resources Ltd (ILU.AU) December Quarter Production & Exploration Report
- AUS Infigen Energy (IFN.AU) Q2 2017 Sales
- AUS Energy Resources of Full year 2016 Results Australia Ltd (ERA.AU)
- AUS Fortescue Metals (FMG.AU) December Quarterly Report
- NZ Dec International Travel and Migration
- AUS Dec Financial Aggregates, incl Private Sector Credit
- AUS Dec NAB Business Survey
- AUS Dec International Reserves & Foreign Currency Liquidity
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)
- The S&P 500 and the Dow were set for their worst day in more than three months on Monday as investors worried over President Donald Trump’s orders to restrict travel to the United States.
- Trump on Friday signed executive orders to suspend travel to the United States from seven Muslim-majority countries on grounds of national security.
- Thousands of people rallied in major US cities and at airports in protest, with Nike and Starbucks among companies that said they did not support the ban.
- US equities hit a series of record highs following Trump’s election in November, encouraged by his promise of tax cuts and simpler regulations.
- However, the potential risk from Trump’s protectionist policies and the lack of clarity since he took office have dampened some of the enthusiasm.
- The Dow, which soared 9.2 per cent in the aftermath of Trump’s election, has gained only one per cent since his January 20 inauguration.
- The CBOE Volatility index or Wall Street’s “fear gauge” ticked up 1.75 points, its largest since early November.
- Investors are also keenly watching the Federal Reserve’s policy meeting that begins Tuesday, corporate earnings from key companies such as Apple and Facebook and a raft of economic data including Friday’s crucial jobs report.
- The Dow Jones Industrial Average was down 0.88 per cent at 19,916.33
- The Nasdaq Composite was down 1.00 per cent at 5,604.08.
- The S&P 500 was down 0.79 per cent at 2,276.62.
- Gold prices rose, as the dollar weakened and stocks sold off following an executive order by President Trump to impose a temporary ban on citizens from several majority-Muslim countries.
- Gold for April delivery settled up 0.4% at $1,196.00 a troy ounce on the Comex division of the New York Mercantile Exchange, breaking a four-day losing streak.
- Copper prices closed lower with the potential for supply-side disruption in the spotlight for the week ahead.
- Copper for March delivery settled down 1.3% at $2.6550 a pound on the Comex division of the New York Mercantile Exchange.
- Analysts noted that the extended Chinese New Year holiday this week should keep the market quiet and potentially exacerbate copper’s moves in thin trading.
- The Shanghai Futures Exchange is closed until Feb. 3.
- IRON ORE: $82.43 +0.08 ( January contract )
- Crude prices edged lower Monday as investors weighed growing U.S. output against cutbacks by major oil producers.
- U.S. crude for March delivery fell 54 cents, or 1%, to $52.63 a barrel on the New York Mercantile Exchange. Brent, the global benchmark, fell 29 cents, or 0.5%, to $55.23 a barrel on London’s ICE Futures Exchange.
- In recent weeks, oil has been batted back and forth within a narrow range, as indications that members of the Organization of the Petroleum Exporting Countries and other major producers are complying with their promises to cut production have competed with signals that U.S. shale producers are preparing to ramp up production.
- The competing forces have kept oil between $50 a barrel and about $54 a barrel since early December.
- The U.S. dollar slipped Monday, as U.S. political uncertainty and an event-laden week ahead led some investors to pare their positions in the currency.
- Nervousness about the new U.S. presidential administration’s policies on trade and immigration pushed investors into the Japanese yen, a popular safe haven during turbulent times.
- President Donald Trump on Sunday defended his executive order restricting immigration from seven Muslim-majority countries amid congressional criticism, and widespread protests.
- The Australian dollar is unchanged against its US counterpart but is higher against the euro and the yen.
- At 7.00 AEDT on Tuesday, the Australian dollar was worth 75.49 US cents, unchanged from Monday.
- Stocks fell about one per cent in Europe after Trump’s executive order on Friday to bar Syrian refugees and suspend travel to the United States from seven countries, put the spotlight back on his protectionist bent.
- The CBOE Volatility index, known as Wall Street’s “fear gauge,” rose 1.8 points to 12.38 from multi-year lows.
- MSCI’s all-country world stock index fell 0.79 per cent, while the FTSEurofirst 300 Index of leading pan-European stocks closed down 1.06 per cent.
- London’s FTSE100 fell 0.92 per cent to 7,118.48, and Germany’s DAX lost 1.12 per cent to 11,681.89.
- Country indexes for France, Italy and Spain all fell by more than one per cent,
- Asian share markets and US stock futures fell after President Trump’s immigration curbs sparked criticism at home and abroad, adding to fears that his ‘America First’ policy may prove destabilising for the rest of the world.
- MSCI’s broadest index of Asia-Pacific shares outside Japan fell 0.4 per cent in holiday thinned trade.
- Japan’s Nikkei widened losses to 0.7 per cent as demand for the safe-haven yen weighed on exporters.
- Chinese and Hong Kong markets were closed for the Lunar New Year public holiday.
- The S&P/NZX 50 Index fell 48.7 points, or 0.7 per cent, to 7,085.56.
Important News Events For Today
Weakness of attitude becomes weakness of character. – Albert Einstein
*Now you know everything.*