Final day of trading for 2020: ASX poised to open lower

31Dec

Final day of trading for 2020: ASX poised to open lower

 

On the final trading session of 2020 the Australian share market looks set to open lower this morning despite shares rising on Wall Street. A higher stimulus cheque of $2,000 for Americans has stalled in the US as Senate majority leader Mitch McConnell blocked the bill for the extra coronavirus relief package. The UK government has introduced stricter coronavirus restrictions for millions of people as cases continue to rise. Back home New South Wales and Victoria are on high alert for New Year’s Eve gatherings as Covid cases rise.

Markets

Wall Street higher: The Dow Jones Industrial Average added 0.2 per cent to 30,410, the S&P 500 is up 0.1 per cent to 3732 and the NASDAQ closed 0.2 per cent higher at 12,870.

European markets last closed lower, London’s FTSE lost 0.7 per cent, Paris lost 0.2 per cent and Frankfurt closed 0.3 per cent lower.

Asian markets closed mixed, Tokyo’s Nikkei lost 0.5 per cent, Hong Kong’s Hang Seng added 2.2 per cent and China’s Shanghai Composite closed 1.1 per cent higher.

Taking all of this into equation, the SPI futures are pointing to a 24 point fall.

Yesterday, the Australian share market closed 0.3per cent lower or 18 points down at 6,682.

Company news

Property developer Ultima (ASX:UUL) has entered into a binding letter of intent for three lots of land in a popular ski resort area in Japan. They are looking to raise over $20 million for the acquisition and for construction of the villas. This new development is the companies first outside of Australia and into the Asia-Pacific. The real estate development project is with Infinity Capital Group Japan Development Godo Kaisha for their TELLUS Villas in Niseko. Shares in Ultima (ASX:UUL) last closed at $0.50.

Ex-Dividends

MCP Income Opportunities Trust (ASX:MOT) paying 1.56 cents unfranked.
MCP Master Income Trust (ASX:MXT) paying 0.7 cents unfranked.
Partners Group Global Income Fund (ASX:PGG) paying 0.6833 cents unfranked.
Regal Investment Fund (ASX:RF1) paying 5 cents unfranked.

Currencies

One Australian Dollar at 8:30 AM was buying 76.85 US cents, 56.44 Pence Sterling, 79.34 Yen and 62.52 Euro cents.

Commodities

Iron Ore futures suggest 0.6 per cent rise.
Gold has added $3.40 to US$1897 an ounce.
Silver was up $0.15 to US$26.72 an ounce.
Oil is $0.14 lower at US$48.26 a barrel.
Copyright 2020 – Finance News Network


Source: Finance News Network

Share this post

Related Posts

18Dec

Record-breaking Friday: Dow Jones and Nasdaq-100 soar to new heights

18 Dec 2023 - The Dow Jones Industrial Average closed higher Friday after a whipsaw session, where it marked a fresh intraday record, and the tech-heavy Nasdaq-100 set a record close.

Read More
12Sep

Trump delays Chinese tariffs: ASX poised to open higher

13 Sep 2019 - Following positive leads from US markets, the ASX looks set to open higher this morning. Stocks on Wall Street rose yesterday. Earlier this week President Donald Trump agreed to delay an additional increase in tariffs on Chinese goods. Integrated Research (ASX:IRI) is pleased to announce the appointment of Mr John Ruthven as Managing Director.

Read More
08Jun

US stocks react to reports on global economy

08 Jun 2023 - The S&P 500 and Nasdaq Composite closed lower Wednesday, with the broad market index fluctuating near its highest closing levels since August 2022.

Read More
21Dec

Health insurance premiums to rise in early 2021: ASX tracking 0.4% lower at noon

21 Dec 2020 - The ASX opened lower this morning with the S&P/ASX 200 Index 26 points down or 0.4% lower at 6,650. Shares in online retailer Kogan.com (ASX:KGN) are doing well today. Shares in Wisetech Global (ASX:WTC) have seen a drop of over 9%. The Federal Minister for Health today announced that private health insurance premiums will change across the industry, effective 1 April 2021.

Read More
23Aug

Wall St gains, Afghan withdrawal threatens Bidens plan, Why Evolution Mining is a buy: ASX to rise

23 Aug 2021 - Wall St rallied though closed lower over the week as investors bought the dip. Overview of Wall St’s performance led by uncertainty. European markets tracked the U.S following mixed economic data. Asian shares closed in the red on uncertainty around the Chinese government’s next moves. Why Credit Suisse raises Evolution Mining’s (ASX:EVN) price target. Overview of the week gone and the week ahead.

Read More
03Jun

Wall St edge higher, Why Woolies is a buy as Scentre is a hold: ASX to rise

03 Jun 2021 - This report covers Wall St's performance, a wrap-up of Wednesday session locally, why Woolworths (ASX:WOW) is a buy and Scentre (ASX:SCG) is a hold.

Read More
26Nov

Financial sector weighs on the market: ASX closed 0.7% lower

26 Nov 2020 - The ASX opened lower this morning and failure to gain moment closing 0.7% lower. Technology One Limited (ASX:TNE) was the best performing stock. Meanwhile, shares in Virgin Money UK (ASX:VUK) have dropped over 11 per cent after the withdrawal of financial targets planned for 2022.

Read More
24Oct

JB Hi-Fi (ASX:JBH) shares leap on strong sales report: ASX tracking 0.5% higher at noon

24 Oct 2019 - The ASX rose at the open and is now tracking 0.5 per cent higher at noon. Shares in Qantas (AXS:QAN) fell after they reported a fall of 0.9% in domestic revenue through the September quarter. JB Hi-Fi (ASX:JBH) shares hit a record high on their quarterly report showing good momentum for sales despite being down on last year.

Read More
21Feb

Wall St falls as traders shun stocks, AGL rejects takeover bid, A2M profit falls 50%: ASX to drop

21 Feb 2022 - US stocks fall as investors sell out of risk assets ahead of the long weekend. AGL Energy rejects bid from Brookfield & Cannon Brookes. Review of the week gone and the week ahead.

Read More
27Oct

Tech giants fail to deliver on earnings: Biotechs finding support

27 Oct 2022 - The Nasdaq and S&P 500 slid Wednesday as traders assessed disappointing earnings from tech giants Microsoft and Alphabet. The swings in the major indexes reflect a “tug of war” between corporate America and the Federal Reserve that has left investors attempting to balance what companies are reporting and what that means for future interest rate hikes.

Read More