Global markets steady amid US holiday

Global markets were muted on Monday, with US markets closed in observance of Labor Day. Traders are bracing for the arrival of jobs data later in the week which are expected to help determine how the Federal Reserve goes about cutting interest rates.

However, futures tied to indexes were trading. Dow Jones Industrial Average futures were down 0.1 per cent, while S&P 500 and Nasdaq 100 futures were broadly flat.

The key data for the week will be the US jobs report due out Friday, which is expected to play a large part in whether the Federal Reserve cuts its benchmark rate by a quarter percentage point, or a half point, at its policy meeting in September.

European stocks overnight were largely flat on the first trading day of September as investors weighed the market outlook.

The pan-European Stoxx 600 closed slightly lower, down 0.04 per cent, with varying performance across regional bourses and sectors. Retail stocks ended the day 0.77 per cent lower, while telecoms gained 0.78 per cent.

Turning to Asia, Hong Kong’s Hang Seng Index was down 1.7 per cent. Chinese economic data released over the weekend, pointed to a fourth straight month of contraction in the manufacturing sector.

Shares of the real estate listings company Rightmove surged by 27 per cent after its Australian competitor, REA Group, announced it was considering a bid for the U.K.-based platform.

Futures

The SPI futures are pointing to a 0.1 per cent rise.

Currency

One Australian dollar at 7.30am was buying 67.91 US cents.

Commodities

Gold has added 0.16 per cent. Silver has lost 0.73 per cent. Copper has fallen 0.38 per cent. Oil has added 0.67 per cent.

Figures around the globe

European markets closed mixed. London’s FTSE lost 0.15 per cent, Frankfurt added 0.13 per cent, and Paris closed 0.20 per cent higher.

Turning to Asian markets, Tokyo’s Nikkei added 0.14 per cent, Hong Kong’s Hang Seng lost 1.65 per cent, while China’s Shanghai Composite closed 1.10 per cent lower.

Yesterday, the Australian share market closed 0.22 per cent higher at 8110.

Ex-dividends
Australian Ethical (ASX:AEF) is paying 6 cents fully franked
Bega Cheese Ltd (ASX:BGA) is paying 4 cents fully franked
Codan Limited (ASX:CDA) is paying 12 cents fully franked
Coles Group (ASX:COL) is paying 32 cents fully franked
Endeavour (ASX:EDV) is paying 7.5 cents fully franked
Iluka Resources (ASX:ILU) is paying 4 cents fully franked
Karoon Energy Ltd (ASX:KAR) is paying 4.496 cents fully franked
Lynch Group Holdings (ASX:LGL) is paying 8 cents fully franked
Nickel Industries (ASX:NIC) is paying 2.5 cents unfranked
Northern Star (ASX:NST) is paying 25 cents unfranked
Pengana Capital (ASX:PCG) is paying 2 cents fully franked
Peter Warren (ASX:PWR) is paying 6 cents fully franked
Steadfast Group Ltd (ASX:SDF) is paying 10.35 cents fully franked
Stanmore Resources (ASX:SMR) is paying 6.5476 cents fully franked
Solvar Limited (ASX:SVR) is paying 5 cents fully franked
Wesfarmers Limited (ASX:WES) is paying 107 cents fully franked
Woolworths Group Ltd (ASX:WOW) is paying 97 cents fully franked

Sources: Bloomberg, FactSet, IRESS, TradingView, UBS, Bourse Data, Trading Economics, CoinMarketCap, Marketech.
Disclaimer

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