Tuesday: 24th January 2017
Each Market In Focus
- The Australian market looks to open higher with SPI futures up 18 points or 0.32% at 5584.
A spate of profit warnings weighed on Australia’s equities market, sending it to an almost five-week low.
Shrugging off an early push higher, the S&P/ASX 200 lost 43.8 points, or 0.8%, to finish at 5611.1 with only the property trusts subindex in positive territory.
The industrials sector notched up the sharpest retreat of the day, pulled down by a 16% fall in logistics company Brambles after it said profit and revenue in the first half of its financial year were expected to be lower than previously expected due to pressures facing its North American pallets business.
- AUS Lynas Corporation (LYCSU) December Activities Report conference call
- AUS Sandfire Resources NL (SFR.AU) December Quarterly Activities Report conference call
- AUS Sandfire Resources NL (SFR.AU) December Quarterly Activities Report
- AUS Lynas Corporation (LYC.AU) December Activities Report
- 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)
- 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: $79.60 + 0.09 ( January contract )
- Copper prices rose Friday, lifted by hopes for stronger Chinese demand and a rally in crude oil.
- Copper for March delivery closed up 0.8% at $2.6475 a pound on the Comex division of the New York Mercantile Exchange.
- Gold prices posted their fifth straight weekly decline Friday, as money continued to flow out of exchange-traded funds that invest in the precious metal.
- Gold for February delivery closed down 0.9% at $1,161.90 a troy ounce on the Comex division of the New York Mercantile Exchange. A settlement at these levels would be the metal’s lowest close since February.
- IRON ORE: $78.89 -0.18( December contract )
- Oil prices fell on worries over a potential resurgence of U.S. shale production despite more confidence at OPEC that last year’s agreement to lower production is holding.
- Light, sweet crude for March delivery settled down 47 cents, or 0.9%, at $52.75 a barrel on the New York Mercantile Exchange.
- Brent crude, the global benchmark, lost 26 cents, or 0.5%, to $55.23 a barrel on ICE Futures Europe.
- The U.S. dollar edged lower, as the most recent comments by U.S. President Donald Trump revealed few details about plans for lowering taxes and stimulating the economy.
- The Wall Street Journal Dollar Index, which gauges the U.S. currency against a basket of 16 others, was recently down 0.5% at 91.15 on losses against the euro, yen and emerging markets.
- The Australian dollar is virtually unchanged against its US counterpart which has fallen to a seven-week low against a basket of key world currencies amid investor concerns over protectionist rhetoric by US President Donald Trump.
- At 7.00 a.m. AEDT on Tuesday, the local unit was trading at 75.68 US cents, down slightly from 75.70 cents on Monday.
- European stocks edged lower on Monday and the US dollar briefly hit a six-week low after President Trump began his term in office with a protectionist speech that drove a nervous market into safe-haven assets.
- His inaugural address on Friday, signalling an isolationist stance on trade and other issues, led investors to retreat to the safety of higher-rated government bonds.
- European stocks touched their lowest levels this year in early trades.
- By midday, the broad STOXX index had come off the day’s lows but was still down 0.3 per cent.
- London’s FTSE 100 fell 0.66 per cent to 7,151.18
- Germany’s DAX lost 0.73 to 11,545.75.
- Hong Kong stocks closed marginally higher, thanks to support from a solid resource sector.
- Both the benchmark Hang Seng index and the Hong Kong China Enterprises Index were up 0.1 per cent at the close, to 22,898.52 points and 9,726.82 points respectively.
- Japan’s Nikkei 225 Index rose 1.23 per cent to 18,996.37.
- The S&P NZX 50 fell 0.33 per cent to 6,893.30.
Important News Events For Today
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