Mostly negative international leads: Aus shares to open slightly lower

14Aug

Mostly negative international leads: Aus shares to open slightly lower

 

Australian shares are poised to slide at the open after mostly lower results on Wall Street and negative leads from European markets. Reporting Season is well underway, with Iluka Resources (ASX:ILU), National Australia Bank (ASX:NAB) and Newcrest Mining (ASX:NCM) expected to release their financial results today.

Local Economic News 

The Australian Bureau of Statistics will release the overseas arrival and departure figures for the month of June. Reserve Bank Governor, Philip Lowe, is due to provide testimony to the House of Representatives Standing Committee on Economics this morning.

Markets

Wall Street closed mixed yesterday: The Dow Jones Industrial Average lost 0.3 per cent to 27,897 the S&P 500 fell 0.2 per cent to 3373 and the NASDAQ closed 0.3 per cent higher at 11,043.

European markets closed lower, London’s FTSE lost 1.5 per cent, Paris fell 0.6 per cent and Frankfurt closed 0.5 per cent lower.

Asian markets closed mixed, Tokyo’s Nikkei gained 1.8 per cent, Hong Kong’s Hang Seng lost 0.1 per cent and China’s Shanghai Composite closed 0.04 per cent higher.

Taking all of this into equation, the SPI futures are pointing to a 0.1 per cent lost. The Australian sharemarket ended yesterday’s session 0.7 per cent lower at 6091, with weaker earnings and poor economic data weighing on the local bourse.

In Company news that broke after the market close yesterday, a subsidiary of Ricegrowers (ASX:SLLLV), CopRice, has penned a purchase agreement to acquire the dairy and beef business of Riverbank Stockfeeds for under $10 million. CopRice produces stockfeed and companion animal products. The acquisition target, Riverbank Stockfeeds is a Victorian-based producer of livestock products. Ricegrowers trades under the name SunRice, and the acquisition is part of the SunRice Group’s 2022 Growth Strategy, under which it plans to leverage its balance sheet to pursue merger and acquisition opportunities and diversify its earnings. Completion of the acquisition is expected over the coming months, pending satisfaction of a number of conditions precedent. Shares in Ricewgrowers (ASX:SLLLV) closed 0.2 per cent lower at $5.09 yesterday.

Currencies

One Australian Dollar at 6:55 AM was buying 71.49 US cents, 54.73 Pence Sterling, 76.44 Yen and 60.53 Euro cents.

Commodities

Iron Ore lost 0.1 per cent to US$121.38.
Iron Ore futures suggest a 0.2 per cent fall.
Gold has gained $14.30 to US$1963 an ounce.
Silver was up $1.60 to US$27.58 an ounce.
Oil was down $0.31 to US$42.36 a barrel.

You can find details on our website about this month’s Investor Event on 25th August. 
 
Copyright 2020 – Finance News Network


Source: Finance News Network

Share this post

Related Posts

22Dec

Wall St surges on easing Omicron woes, Rio rated as Outperform: ASX to rise

22 Dec 2021 - Global major indexes around the globe rally on easing Omicron concerns. Credit Suisse cuts equities weighting on Omicron & policy risks. Rio Tinto (ASX:RIO) rated as outperform. Overview of RBA meeting minutes yesterday.

Read More
24Jul

US job recovery stalls, rattling the markets: ASX poised to open lower

24 Jul 2020 - The ASX looks set to drop this morning with mixed results from the US overnight as their job market recovery appears to stall. Coronavirus infections across the US have now surpassed 4 million. Back home, our budget deficit hit almost $86b last financial year. Nufarm (ASX:NUF) has decided to change its financial year end from 31 July to 30 September.

Read More
12Mar

Trump addresses the US on coronavirus and triggers ASX sell-off: ASX tracking 2.5% lower at noon

12 Mar 2020 - The ASX dropped at the open and is now tracking 2.5% lower at noon. US President Donald Trump has just addressed the nation, putting restrictions on all travel to the US from Europe except the UK because of the coronavirus. This will go into effect from Friday evening US time. Integrated Research (ASX:IRI) has signed a significant renewal and extension software licence agreement with JP Morgan Chase, for a total contract value of US$10 million.

Read More
25Sep

Afterpay shares higher after AUSTRAC update: ASX tracking 0.6% lower

25 Sep 2019 - The ASX dropped at the open and continues to shuffle along, tracking 0.6% lower at noon. Afterpay Touch Group (ASX:APT) shares have shot up today after they updated the market in relation to their Anti-Money Laundering and Counter-Terrorism Financing matters by providing an interim report to AUSTRAC. Strike Energy (ASX:STX) reports Neville Power has been appointed as a Non-Executive Director and Deputy Chairman of the company.

Read More
18Jan

ASX heads south: Materials sector drags on market BHP Rio push lower

18 Jan 2021 - The local bourse has fallen in the first two hours of trade with gains in the health care sector unable to offset losses in the materials sector. The S&P/ASX 200 index is 31 points up or 0.5 per cent lower at 6684. On the futures market the SPI is 22 points lower.

Read More
04Mar

Downer (ASX:DOW) awarded $245 million contract: ASX 0.7% lower at noon

04 March 2021 - The ASX opened lower following losses from Wall Street and is now tracking 0.7% lower at noon. Materials, Healthcare and Consumer Staples dragged on the market while Financials led the gains. Buy now, pay later stocks are trading lower after tech stocks fell on Wall Street. Accounting software company Xero (ASX:XRO) is trading 2.4% lower after plans to acquire workforce management platform Planday were announced for $284.5 million. All four banks are performing well with...

Read More
17Nov

Payroll jobs rise in Victoria: ASX closed 0.2% higher

17 Nov 2020 - It has been a positive day of trade for the Australian share market the local bourse managed to close 0.2 per cent higher. Although many sectors did close in the red with Infotech faring the worst. Charter Hall (ASX:CHC) wholesale partnership Long Wall Hardware Partnership, acquired a $353 million portfolio of six Bunnings assets located in prime metropolitan markets.

Read More
25Jan

Banks and iron ore miners offset energy losses, December trade surplus up $7.4b: ASX up 0.4% at lunch

25 Jan 2021 - The local sharemarket is up 0.4 per cent or 27 points to 6828 as we head into afternoon trade. On the futures market the SPI is 25 points higher. Iron ore miners are among the gainers in today’s session. With the likes of Fortescue Metals up 3.5 per cent, and BHP up o.8 per cent.

Read More
01Jun

Oil price could add to inflationary worries: record inflation numbers in Europe

01 Jun 2022 - Inflationary pressure remain rampant across the globe as markets struggle to bounce off bear market lows, with a rising oil price a potential complication to consumer spending.

Read More
18Feb

Asaleo Care (ASX:AHL) has agreed to Essity’s offer: ASX tracking 0.7% lower at noon

17 Feb 2021 - The Australian share market dropped during the early trading hours and is tracking 0.7 per cent lower or 49 points lower at noon at 6,869. On the futures market the SPI is 55 points lower. Materials is the only sector in the green. Asaleo Care (ASX:AHL) has agreed to Essity's offer.

Read More