Tuesday: 7th March 2017
Each Market In Focus
- The Australian market looks set to open lower following Wall Street’s decline as investors take a dim view of the latest turbulence surrounding the Trump administration along with geopolitical tensions emanating from Asia..
- At 8.00 a.m. on Tuesday, the share price futures index was down 8 points at 5,720.
- Locally, in economic news on Tuesday, the Reserve Bank of Australia (RBA) holds its board meeting and makes its interest rate decision.
- In equities news, the chief executives of the Commonwealth and the ANZ banks appear before the House of Representatives Economics Committee.
- Meanwhile, Origin Energy chief executive Frank Calabria addresses a CEDA lunch in Sydney.
- The Australian market on Monday closed higher, thanks to gains in the mining sector and a lift in retailers, as the market awaits busy week of economic data.
- Decmil Group Limited DCG.AU Interim Interim 2017 Ex-dividend date
- Erm Power Ltd EPW.AU Interim Interim 2017 Ex-dividend date
- GWA Group Limited GWA.AU Interim Interim 2017 Dividend payment date
- Medibank Private Ltd MPL.AU Interim Interim 2017 Ex-dividend date
- Nine Entertainment Co NEC.AU Interim Interim 2017 Ex-dividend date Holding Ltd
- Qantas Airways QAN.AU Interim Interim 2017 Ex-dividend date Holding Ltd
- Qube Logistics Holdings QUB.AU Interim Interim 2017 Ex-dividend date Limited
- Ramsay Health Care Ltd RHC.AU Interim Interim 2017 Ex-dividend date Limited
- Regis Resources RRL.AU Interim Interim 2017 Ex-dividend date Limited
- Scottish Pacific Group SCO.AU Interim Interim 2017 Ex-dividend date Ltd
- Select Harvests Limited SHV.AU Interim Interim 2017 Ex-dividend date Ltd
- Sonic Healthcare SHL.AU Interim Interim 2017 Ex-dividend date Ltd
- Australia March Australian cash rate decision
- Australia February Official Reserve Assets
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 retreated in a broad decline as investors take a dim view of the latest turbulence surrounding the Trump administration along with geopolitical tensions emanating from Asia.
Trump accused predecessor Barack Obama on Saturday of wiretapping him during the late stages of the 2016 election campaign, but offered no evidence.
Some investors worried that the accusation could delay Trump’s economic agenda.
Adding to investor caution were rising tensions in East Asia after North Korea fired four ballistic missiles into the sea off Japan’s northwest.
Trump also signed a revised executive order for a 90-day travel ban to the US from six Muslim-majority countries, removing Iraq from the list after his controversial first attempt was blocked in the courts.
- Copper prices fell Monday after China revised its 2017 growth target, throwing doubt on the demand outlook for the world’s key consumer of the industrial metal.
- Copper for May delivery settled down 1.7% to $2.6520 a pound on the Comex division of the New York Mercantile Exchange after China cut its 2017 growth target to about 6.5% from last year’s range of 6.5% to 7%.
Gold for April delivery settled down 0.1% to $1,225.50 a troy ounce, marking its fifth consecutive session of losses.
Expectations that the Federal Reserve will raise interest rates in March has put pressure on gold in recent weeks, since higher rates lessen the appeal of gold, which doesn’t pay a return, compared to yield-bearing assets.
- IRON ORE: $85.86 -1.71 (March contract )
Oil prices settled modestly lower on Monday as lower economic growth forecasts in China and signs of further growth in U.S. crude production sparked concerns over excess supplies.
Uncertainty surrounding output in Libya, on the heels of reported conflicts near major oil terminals among rival groups, as well as ongoing production cuts among members of the Organization of the Petroleum Exporting Countries provided some support.
April West Texas Intermediate crude fell 13 cents, or 0.2%, to settle $53.20 a barrel on the New York Mercantile Exchange.
Brent crude for May delivery gained 11 cents, or 0.20%, to $56.01 a barrel.
- The U.S. dollar stalled as investors locked in profits on the currency’s recent rally ahead of key U.S. jobs data later in the week.
- The U.S dollar fell against the Japanese yen but rose against the euro and British pound.
- The dollar has rallied in recent weeks as investors adjusted their portfolios to reflect rising confidence that the Federal Reserve will raise short-term interest rates this month.
- Higher rates typically boost the value of the dollar by making U.S. assets more attractive to yield-seeking investors.
- The Australian dollar is hardly changed against its US counterpart which has risen on improved chances of an anti-EU candidate winning the French presidential election.
- At 7.00 AEDT on Tuesday, the Australian dollar was worth 75.83 US cents, up fractionally from 75.81 US cents on Monday.
- European shares retreated, weighed down by a fall in Deutsche Bank shares. The German lender had unveiled an 8 billion-euro ($A11.2 billion) cash call as part of a major reorganisation.
- Deutsche Bank fell 7.89 per cent, making the stock the biggest drag to the FTSEurofirst 300 index. The pan-European gauge of leading regional shares closed down 0.54 per cent at a preliminary 1,473.03.
- Germany’s DAX dropped 0.57 per cent to 11,958.40 points
- London’s FTSE 100 fell 0.33 per cent to 7,350.12 points.
Asian shares were on the defensive on Monday as investors weighed the near-certain prospect of a March US interest rate rise against news of slower growth in China.
Hong Kong stocks edged up on Monday, aided by bullish sentiment about China, but gains were capped by growing expectations of a US. rate rise next week, and rising geopolitical tensions in Asia.
The Hang Seng index rose 0.18 per cent, to 23,596.28, while the China Enterprises Index gained 0.3 per cent, to 10,171.10 points.
Sentiment was lifted by a jump in technology shares after Chinese Premier Li Keqiang on Sunday identified innovation as key to economic upgrading, when China’s annual National People’s Congress meeting opened.
However, the market erased some gains in afternoon trading on profit-taking, showing that confidence remains fragile.
The blue-chip CSI300 index rose 0.6 per cent, to 3,446.48, while the Shanghai
Composite Index gained 0.48 per cent to 3,233.87 points.
Tokyo’s Nikeei 225 fell 0.46 per cent to 19,379.14.
The S&P/NZX50 Index gained 17.86 points, or 0.2 per cent, to 7,178.73.
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