Friday: 10th February 2017
Each Market In Focus
- The Australian market looks set to open nearly half a per cent higher following strong gains on international markets after US president Donald Trump said he would release a “phenomenal” tax plan soon.
- At 8.00 a.m. AEDT on Friday, the share price futures index was up 26 points, or 0.46 per cent at 5,636.
- Locally, in major economic news on Friday, the Reserve Bank of Australia releases its Statement on Monetary Policy, while the Australian Bureau of Statistics releases December housing finance data.
- In equities news, REA Group and News Corp are slated to release results.
- The Australian market on Thursday edged higher as investors digested mixed earnings reports from the likes of miner Rio Tinto, investment manager AMP and AGL Energy.
- The benchmark S&P/ASX200 index rose 13.2 points, or 0.23 per cent, to 5,664.6 points
- The broader All Ordinaries index gained 14.3 points, or 0.25 per cent, to 5,717.7 points.
- AUS News Corporation Q2 2017 Earnings conference call / Webcast
- AUS REA Group Ltd Interim 2017 Earnings conference call / Webcast
- AUS Transurban Group Ltd Interim 2017 Dividend payment date – proposed
- AUS REA Group Ltd Interim 2017 Results
- AUS Reserve Bank of Australia Quarterly Statement on Monetary Policy
- AUS Dec Housing Finance
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)
- Wall Street’s three main indexes have hit record highs after US President Donald Trump said he would make a major tax announcement in a few weeks.
- “Lowering the overall tax burden on American business is big league,” Trump said during a White House meeting with airline industry executives.
- US stocks have rallied since Trump’s November 8 election amid expectations he will not only usher in lower corporate taxes, but also reduced regulations and increased infrastructure spending. The rally had stagnated in recent days as investors seek details about Trump’s economic policy agenda.
- Financials, which have soared since the election, were the best-performing group, up 1.3 per cent after three sessions of declines, while energy shares gained 0.9 per cent.
- The Dow Jones Industrial Average was up 0.72 per cent at 20,198.17,
- The S&P 500 had gained 0.68 per cent at 2,310.31
- The Nasdaq Composite had 0.69 per cent at 5,720.03.
- All three indexes hit new intraday all-time highs.
- Copper prices dropped as a strengthening dollar weighed on the industrial metal.
- Copper for March delivery settled down 0.5% at $2.6535 a pound on the Comex division of the New York Mercantile Exchange.
- Gold prices fell 0.20%, to $1,236.80 on the Comex division of the New York Mercantile Exchange.
- IRON ORE: $81.92+0.04 ( February contract )
- Oil prices extended their gains to a second straight session, after data released a day earlier showed a surprise decline in U.S. gasoline supplies, along with strong weekly demand for the fuel.
- Analyst said the figures helped to offset the second-largest weekly climb on record in crude inventories, according to the report.
- Natural-gas futures, meanwhile, settled higher after the latest U.S. supply decline matched expectations.
- On the New York Mercantile Exchange, March West Texas Intermediate crude tacked on 66 cents, or 1.3%, to settle at $53 a barrel.
- April Brent crude rose 51 cents, or 0.9%, to $55.63 a barrel on London’s ICE Futures exchange.
- The U.S. dollar rose intraday, after President Donald Trump pledged to roll out details of a new tax plan over the next few weeks.
- The Wall Street Journal Dollar Index, which measures the U.S. currency against a basket of 16 others, was recently up 0.4% at 90.89.
- The Australian dollar is only fractionally higher against its US counterpart following a basically upbeat message from the local reserve bank chief.
- At 7.00 a.m. AEDT on Friday, the Australian dollar was worth 76.29 US cents, up from 76.26 US cents on Thursday.
- European shares hit a two-week high with some major companies such as France’s second-biggest listed bank Societe Generale and oil major Total advancing after their results.
- Britain’s top share index gained as insurance and banking stocks picked up pace, while miners weighed.
- The blue chip FTSE 100 index was up 0.5 per cent at 7,221.77 points at the market close, underperforming the pan-European STOXX 600 index. It touched its highest level since January 19.
- The mid-cap FTSE 250 index reversed earlier losses to gain 0.1 per cent and post a new record closing level of 18,627.59 points.
- Standard Life was the top gainer in the index, up 2.6 per cent, with peer Prudential also gaining 2.1 per cent.
- Banking stocks were also up, getting a boost from President Trump promising a “phenomenal” announcement on taxes. Cutting corporate tax rates was one of Trump’s keycampaign promises.
- The pan-European STOXX 600 index rose 0.57 per cent. French lender Societe Generale reported lower fourth-quarter net income that nonetheless beat analysts’ forecasts and its shares added 3.0 per cent.
- Germany’s DAX gained 0.86 per cent to 11,642.86.
- Japan’s Nikkei 225 fell, but key Hong Kong and mainland China markets were among the best performers in the Asia region where markets hit an 18-month high.
- The Nikkei fell 0.5 per cent to 18,907.67 a day before Prime Minister Shinzo Abe meets US President Donald Trump..
- MSCI’s broadest index of Asia-Pacific shares outside Japan gained 0.25 per cent to the highest since July 2015,
- Hong Kong’s Hang Seng Index gained 0.2 per cent to 23,525.14
- China’s Shanghai Composite Index rose 0.5 per cent to 3,183.18.
- The S&P/NZX 50 Index gained 55.36 points, or 0.8 per cent, to 7,121.63.
Important News Events For Today
A genuine leader is not a searcher for consensus but a molder of consensus. – Martin Luther King, Jr.
*Now you know everything.*