Monday: 19th June 2017
Each Market In Focus
- At 8.00 a.m. AEDT on Monday, the local share price index was up 9 points, or 0.16 per cent, at 5,723
- A further modest advance by Australian shares Friday capped the strongest week for the local market since late March, buoyed in large part by a rebound by the banks that more than offset the drag of mining stocks.
- The S&P/ASX 200 finished up 10.8 points, or 0.2%, at 5774.0. That left the index 1.7% higher over a holiday-shortened week, taking back the bulk of last week’s slump.
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)
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- Major US stock indexes have ended little changed even as Amazon.com’s $US13.7 billion deal to buy upscale grocer Whole Foods roiled the retail sector and rocked shares of an array of companies including Wal-Mart and Target.
- Energy sector shares helped buoy the S&P 500 and the Dow industrials, while Apple dragged on the Nasdaq on Friday.
- The deal by Amazon, a proven retail disruptor, marked a major step by the internet retailer into the brick-and-mortar retail sector.
- Wal-Mart shares sank 4.7 per cent, weighing the most on the Dow. Shares of Target, Walgreen Boots and Costco fell between 5 per cent and 7 per cent.
- Amazon shares gained 2.4 per cent, making the stock the biggest boost to the S&P 500. Whole Foods shares surged 29.1 per cent.
- The S&P consumer staples sector fell 1 per cent, by far the worst performing major sector. The S&P 500 food and staples retailing index dropped 4.2 per cent.
- Grocery chain Kroger was the biggest loser on the S&P 500, falling 9.2 per cent, while Supervalu dropped 14.4 per cent.
- The Dow Jones Industrial Average rose 0.11 per cent to end at 21,384.28, the S&P 500 gained 0.03 per cent to 2,433.15 and the Nasdaq Composite dropped 0.22 per cent to 6,151.76.
Gold prices inched higher, as a weaker dollar helped the precious metal recover some lost ground after the Federal Reserve raised interest rates.
Gold for August delivery rose 0.2% to $1,256.50 a troy ounce on the Comex division of the New York Mercantile Exchange, rallying on bargain hunting after hitting three-week lows on Thursday.
- Meanwhile, copper for July delivery settled down 0.1%, to $2.5640 a pound on the Comex division of the New York Mercantile Exchange.
IRON ORE: $54.91 +0.30 ( July contract )
- Oil prices inched up Friday, but still fell hard for the week, holding near its lowest levels of the year because of the lingering glut.
- Light, sweet crude for July delivery settled up 28 cents, or 0.6%, at $44.74 a barrel on the New York Mercantile Exchange. Brent crude, the global benchmark, gained 45 cents, or 1%, to $47.37 a barrel on ICE Futures Europe.
The U.S. dollar fell Friday, as investors took profits on recent gains in the face of continued political uncertainty and weak economic data.
The Wall Street Journal Dollar Index, which gauges the U.S. currency against a basket of 16 others, was recently down 0.3% at 88.41.
- An upbeat message from the Federal Reserve at its Wednesday meeting sent the dollar higher against other currencies.
- The central bank raised interest rates by a quarter-percentage point and stuck to its projection for one more rate increase this year despite a recent slowdown in inflation.
- The U.S. dollar was down 0.1% at Yen110.87. The euro was up 0.5% at $1.1198.
- The Australian dollar is higher against its US counterpart which has fallen broadly following weaker-than-forecast US housing and consumer sentiment data.
- At 7.00 AEST on Monday, the Australian dollar was worth 76.21 US cents, up from 75.85 US cents.
- London, Frankfurt and Paris markets climbed between 0.3 and 0.6 per cent, futures pointed to a stable restart for Apple and the like and the euro, the pound and the Swiss franc rose against the US dollar.
- Strength in financials and energy firms supported the FTSE on Friday but the index posted its widest weekly loss in two months after a week of political uncertainty and jitters about the resilience of the consumer engine of the UK economy.
- Greece’s 10-year government borrowing costs fell to their lowest since 2014 in bond markets as well, as eurozone finance ministers and the International Monetary Fund approved a long-delayed 8.5 billion euro lifeline for Athens, albeit keeping them hanging on for debt relief.
- The main FTSE 100 benchmark was up 0.6 per cent at 7,463.54 points at its close, while UK mid-caps pulled out of Thursday’s nosedive to gain claw back 1.3 per cent.
- Competition worries added to the woes of British retailers, in particular grocers, which sold off after news that US giant Amazon was to buy US organic supermarket chain Whole Foods.
- Germany’s DAX gained 0.5 per cent to 12,752.73.
- MSCI’s broadest index of Asia-Pacific shares outside Japan ended down roughly 0.85 per cent for the week though for emerging markets more broadly it was looking like being the worst week of the year so far.
- Japan’s Nikkei 225 rose 0.6 per cent to 19,943.26.
- Hong Kong shares steadied on Friday after the previous session’s sharp slide triggered by US monetary tightening, but the benchmark index posted its biggest weekly loss in three months.
- The Hang Seng index rose 0.2 per cent, to 25,626.49 points, but registered a 1.6 per cent weekly loss, the biggest since early March.
- The China Enterprises Index gained 0.4 per cent on Friday, to 10,384.89 points, and fell nearly 2 per cent for the week.
- China’s stocks fell on Friday to end the week lower as weak producer inflation and investment data reinforced concerns of a renewed slowdown in the world’s second-biggest economy.
- The blue-chip CSI300 index fell 0.3 per cent, to 3,518.76 points, while the Shanghai Composite Index also lost 0.3 per cent to 3,123.17 points.
- The S&P/NZX 50 Index rose 0.5 per cent to 7552.75.
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