Tuesday: 14th February 2017
Each Market In Focus
- The Australian market looks set to open higher, following the trend of overseas indexes with investor risk appetite returning on US President Donald Trump’s talk of tax cuts and regulatory reform.
- At 8.00 a.m. AEDT on Tuesday, the share price futures index was up 17 points at 5,730.
- Locally, in economic news on Tuesday, the Australian Bureau of Statistics releases December lending finance data.
- In equities news, GPT Group, Cochlear, Ridley, SeaLink Challenger, Treaury Wine Estates and Folkstone are slated to post results.
- The Australian market on Monday rose 0.7 per cent as encouraging company earnings reports and higher commodity prices helped it lift to its best close in a month.
- AUS Cochlear Ltd (COH.AU) Interim 2017 Analyst meeting / Webcast
- AUS GPT Group (GPT.AU) Full year 2016 Webcast
- AUS Cochlear Ltd (COH.AU) Interim 2017 Earnings conference call [simultaneous]
- AUS Challenger Limited (CGF.AU) Interim 2017 Webcast
- AUS Treasury Wine Estates (TWE.AU) Interim 2017 Webcast
- AUS G.U.D. Holdings (GUD.AU) Interim 2017 Ex-dividend date
- AUS Cochlear Ltd (COH.AU) Interim 2017 Results
- AUS Challenger Limited (CGF.AU) Interim 2017 Results
- AUS GPT Group (GPT.AU) Full year 2016 Results
- AUS SG Fleet Group Ltd (SGF.AU) Interim 2017 Results
- AUS Ridley Corporation Ltd Interim 2017 Results (RIC.AU)
- AUS Paladin Energy Ltd. (PDN.AU) Interim 2017 Results
- AUS Sydney Airport (MGPYF) Full year 2016 Dividend payment date – proposed
- AUS Treasury Wine Estates (TWE.AU) Interim 2017 Results
- NZ SKY Network Television Ltd Interim 2017 Ex-dividend date (SKT.NZ)NZ Jan REINZ Monthly Housing Price Index
- NZ Jan REINZ Residential Market Report
- NZ Jan Food Price Index
- AUS Jan NAB Business Survey
- AUS Dec Lending 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)
- US equity indexes have hit record intraday highs, with the benchmark S&P 500’s market capitalisation topping $US20 trillion ($A26.16 trillion) as investors bet tax cuts promised by President Donald Trump would boost the economy.
- Trump has vowed to make a major tax announcement over the next few weeks, adding fuel to a rally that had stalled amid worries about the potential impact of his protectionist trade stance and a lack of clarity about other policy reforms.
- The S&P has surged 9 per cent since Trump’s November 8 election, boosted by expectations he would lower corporate taxes, ease regulations governing banks and increase infrastructure spending.
- The S&P 500 financials index jumped 1.4 per cent, with banks leading the way. The industrial sector gained 1.1 per cent. The two sectors are seen benefiting heavily from Trump’s policies.
- Strong economic data in recent weeks has been supported by upbeat corporate results.
- S&P 500 companies are on track for their strongest profit growth in nine quarters, according to Thomson Reuters.
- The S&P 500 had gained 0.53 per cent to 2,328.65.
- The Dow Jones Industrial Average was up 0.74 per cent at 20,428.64
- The Nasdaq Composite had added 0.56 per cent to 5,766.36.
- Copper prices edged to a fresh 20-month high, as a strike at the world’s largest copper mine and the threat of supply disruptions at an Indonesia mine stoked supply worries.
- Copper for March delivery closed up 0.5% at $2.7830 a pound on the Comex division of the New York Mercantile Exchange. Prices hit $2.8230 a pound earlier in the session, their highest level since May 2015.
- Gold futures settled lower, suffering from their largest single-session loss of the month as the dollar flexed its strength against most major currencies and U.S. equities gained, dulling the appeal of the precious metal in the short term.
- April gold fell $10.10, or 0.8%, to settle at $1,225.80 an ounce.
- IRON ORE: $85.93 +1.82 ( February contract )
- Oil prices fell, as the market shifted its focus from output cuts among some OPEC members to other major producers.
- Light, sweet crude for March delivery settled down 93 cents, or 1.7%, to $52.93 a barrel on the New York Mercantile Exchange, breaking a three-day winning streak.
- Brent, the global benchmark, fell $1.11, or 2%, to $55.59 a barrel.
- The U.S. dollar rose as investors awaited testimony from Federal Reserve Chairwoman Janet Yellen later in the week.
- Ms. Yellen is scheduled to testify before the U.S. Senate on Tuesday and the House on Wednesday.
- Investors will be watching Ms. Yellen’s comments for clues on when the Fed could raise interest rates next.
- The Australian dollar is lower against its US counterpart which has risen against a basket of currencies on re-ignited hopes of a US Federal Reserve interest rate rise.
- At 7.00 AEDT on Tuesday, the Australian dollar was worth 75.49 US cents, down from 76.67 on Monday.
- European shares gained as mining stocks touched a two-and-a-half-year high on rising copper prices and mergers and acquisitions continued to drive shares, with
takeover offers sending German drugmaker Stada to a record high.
- The pan-European STOXX 600 index rose 0.8 per cent, after earlier touching its highest level since December 2015.
- The basic resources index was up 2.7 per cent. It led sectoral gainers in Europe as copper prices hit their highest in 20 months in heavy trade, driven up by supply worries after shipments were shut off from the world’s two biggest copper mines.
- Elsewhere merger and acquisition news once again drove activity, after German drugmaker Stada said it had received two offers for the acquisition of the company, one of which is private equity group Cinven Partners LLP.
- Concern over an upcoming French election seemed far from equity markets, as the CAC 40 outperformed European peers to close up 1.2 per cent.
- Germany’s DAX gained 0.92 per cent to close at 11,774.43
- London’s FTSE100 rose 0.2 per cent to 7,278.9.
- Asian stocks rallied to one-and-a-half-year peaks and a broad measure of pan-European stocks hit its highest since late 2015.
- In the weekend meeting with Japanese Prime Minister Shinzo Abe, President Trump held off from repeating harsh rhetoric that accused Japan of taking advantage of US. security aid, stealing American jobs and “playing money markets”. Nor were currency issues discussed.
- Figures on Monday showed that Japan’s economy grew for a fourth straight quarter in the final three months of last year as a weaker yen supported exports, but doubts over the sustainability of the recovery persisted.
- Hong Kong shares closed at a four-month high, underpinned by the materials sector following a rally in commodities prices and thanks to capital flows from the mainland.
- The Hang Seng index rose 0.58 per cent to 23,710.98 points, its highest close since October 11.
- Meanwhile, the China Enterprises Index gained 1.3 per cent, to 10,257.84 points, its highest since end-November 2015.
- The Shanghai Composite Index rose 0.63 per cent to 3,216.84.
- The S&P/NZX 50 Index rose 31.07 points, or 0.4 per cent, to 7,135.5.
Important News Events For Today
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