Wednesday: 25th January 2017
Each Market In Focus
- The Australian market looks to open higher with SPI futures up 37 points or 0.66% at 5631.
- Mining companies led a recovery in Australian shares as Chinese iron-ore futures surged and BlueScope Steel tipped better-than-expected half-year earnings.
- A nearly 6% jump in Dalian iron-ore prices ahead of the Lunar New Year helped the local market shrug off President Donald Trump’s decision to withdraw the U.S. from the proposed Trans-Pacific Partnership, a 12-nation trade deal that Canberra continues to support.
- After falling for the past two sessions to a one-month low, the S&P/ASX 200 recovered 39.1 points, or 0.7%, to end at 5650.1.
- The materials sector led the index, rising 2.7%.
- AUS Senex Energy Ltd (SXY.AU) December Quarterly Report Webcast
- AUS Independence Group NL (IGO.AU) December Quarterly Report Webcast
- AUS Evolution Mining Limited December Quarterly Report conference call (EVN.AU)
- AUS Australian Pharmaceutical Full year 2016 AGM Industries Ltd (API.AU)
- AUS Resource Generation (RES.AU)* December Quarterly Report
- AUS Mount Gibson Iron (MGX.AU)* December Quarterly Activities Report
- AUS Western Areas Limited (WSA-T)* December Quarterly Activities Report
- AUS Senex Energy Ltd (SXY.AU) December Quarterly Report
- AUS Mineral Deposits Ltd. (MNLDF) Q4 2016 Operations review
- AUS Evolution Mining Limited December Quarterly Report (EVN.AU)
- AUS BHP Billiton Limited (BHP.AU) December Quarter Operational Review
- AUS Independence Group NL (IGO.AU) December Quarterly Report
- AUS Gindalbie Metals Ltd (GBG.AU)* December Quarterly Report
- AUS Nov Westpac-Melbourne Institute Indexes of Economic Activity
- AUS Jan Vacancy Report
- AUS Q4 CPI
- NZ Dec Credit card statistics
- AUS Nov Australia Conference Board Leading Index
- NZ Dec BNZ – BusinessNZ Performance of Services Index (PSI)
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 Nasdaq have reached intraday record highs and the Dow is poised for its best day of the year, lifted by gains in financial
and technology stocks.
- The advance comes as investors assess quarterly earnings reports, while trying to find more clarity on President Donald Trump’s economic policies.
- Trump signed two executive orders on Tuesday to move forward with construction of the controversial Keystone XL and Dakota Access oil pipelines, rolling back key Obama administration environmental actions in favour of expanding energy infrastructure.
- He also met with chief executives of the Big Three US carmakers to push for more cars to be built in the United States.
- The Dow Jones Industrial Average was up 0.67 per cent at 19,932.91,
- The S&P 500 had gained 0.81 per cent to 2,283.62 and the
- Nasdaq Composite had added 0.92 per cent to 5,603.84.
- Gold prices rose to a two-month high as the U.S. dollar continued to weaken and haven assets gained in the wake of the inauguration of U.S. President Donald Trump.
- Gold for February delivery settled up 0.9% at $1,215.60 a troy ounce on the Comex division of the New York Mercantile Exchange, closing at the highest level since Nov. 17.
- Copper prices rose to a one-week high Monday, boosted by a weakening dollar on the first full trading day of the Trump administration.
- Copper for March delivery settled up 0.9% at $2.6475 a pound on the Comex division of the New York Mercantile Exchange, closing at the highest level since Jan. 13.
- IRON ORE: $80.05 +0.36 ( January contract )
Oil prices edged higher as confidence in attempts to limit output by major oil-producing nations offset concerns about an increase in U.S. production activity.
Light, sweet crude for March delivery settled up 43 cents, or 0.8% to $53.18 a barrel on the New York Mercantile Exchange.
Brent, the global benchmark, gained 21 cents, or 0.4%, to $55.44 a barrel.
- The U.S. dollar firmed after a three-day selloff as investors continue to assess the outlook for economic policy under Donald Trump’s administration.
- The WSJ Dollar Index, which measures the U.S. currency against 16 others, rose 0.1% to 90.85, recovering from an overnight selloff after a Treasury official discussed the negative impacts of a strong dollar.
- The U.S. dollar was up 0.5% against the British pound after a key U.K. Supreme Court ruling on the Brexit process.
- The Australian dollar is slightly higher against its US counterpart, which recouped losses suffered following US president Donald Trump’s protectionist comments.
- At 7.00 AEDT on Wednesday, the Australian dollar was worth 75.77 US cents, up slightly from 75.73 on Tuesday.
- Europe’s earnings season got off to a rocky start on Tuesday with profit warnings from BT Group and Aryzta sending their shares sharply lower.
- The pan-European STOXX 600 index still managed to eke out a 0.2 per cent gain, though, propped up by Italian financials and mining stocks.
- While basic resources was the biggest sectoral riser, boosted by a weaker US dollar,
- Italian insurer Generali was the biggest individual gainer, jumping 8.2 per cent on talk Intesa Sanpaolo could make a bid for it.
- BT lost a fifth of its market value, hit by an Italian accounting scandal that has compounded a sudden slowdown in its British government work and forced the telecoms group to cut forecasts for the next two years.
- Shares in the company tumbled by 20.8 per centto 303 pence, their biggest ever one-day fall.
- London’s FTSE 100 closed flat, down just 0.01 per cent at 7,150.34.
- Germany’s DAX gained 0.43 per cent at 11,594.94.
Hong Kong stocks rose, led by a solid resources sector as a weaker US currency stemming from President Trump’s protectionist stance reduces costs to firms for raw materials imports.
An index tracking resources stocks advanced 4.1 per cent.
Mainland miners also put up a solid performance after futures contracts of coke rallied around 3.7 per cent at the close.
Shares of Shenhua Energy Co Ltd and Yanzhou Coal Mining Company Limited climbed about 2.5 per cent and 5.4 per cent, respectively.
The benchmark Hang Seng index added 0.2 per cent, to 22,949.86 points, while the Hong Kong China Enterprises Index gained 0.3 per cent, to 9,759.26 points.
But Japan’s Nikkei 225 fell 0.55 per cent to 18,787.99 with shares pressured as the yen lifts to its highest level in nearly eight weeks amid uncertainty emanating from Washington.
The S&P/NZX50 Index dropped 3.69 points, or 0.05 per cent, to 7,064.16.
Important News Events For Today
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