Oracle’s TikTok bid is under review: ASX to open lower

15Sep

Oracle’s TikTok bid is under review: ASX to open lower

 

The Australian share market looks set to open lower this morning as US stocks closed higher on progress of a Covid-19 vaccine. AstraZeneca paused trials last week due to a potentially unexplained illness – today the UK will resume trials. Oracle surged 5 per cent due to teaming with China's ByteDance to keep TikTok in the United States. They beat Microsoft to the deal. Gold lifted on weakness of the American dollar. The price of crude slipped.

Economic news

ABS Residential Property Price Indexes: Eight Capital Cities, June 2020.
Minutes of September 2020 Monetary Policy Meeting of the Reserve Bank Board.

Markets

Wall Street closed higher yesterday: The Dow Jones Industrial Average gained 1.2 per cent to 27,993 the S&P 500 added 1.3 per cent to 3384 and the NASDAQ closed 1.9 per cent higher at 11,057.

European markets closed mixed, London’s FTSE lost 0.1 per cent, Paris gained 0.4 per cent and Frankfurt closed 0.1 per cent lower.

Asian markets closed higher, Tokyo’s Nikkei added 0.7 per cent, Hong Kong’s Hang Seng gained 0.6 per cent and China’s Shanghai Composite closed 0.6 per cent higher.

Taking all of this into equation, the SPI futures are pointing to 0.2 per cent fall.

Yesterday, the Australian share market closed 0.7 per cent higher at 5900.

Company news

Serko (ASX:SKO) today announced that Mr Botherway, who has chaired the Serko Board since April 2014, is standing down as Chair and will be succeeded by Claudia Batten, effective immediately. Mr Botherway will remain an independent director on the Board. Ms Batten has been acting in the role of Chair since March 2020, when Mr Botherway temporarily stepped down from the role for medical reasons. Serko is a software company for corporate travel management. Shares in Serko (ASX:SKO) closed 0.52 per cent higher at $3.90 yesterday.

Ex-Dividends

CML Group Ltd (ASX:CGR) is paying 1.75 cents fully franked
Data#3 Limited (ASX:DTL) is paying 8.8 cents fully franked
Inghams Group (ASX:ING) is paying 6.7 cents fully franked
News Corp (ASX:NWS) is paying 9.6886 cents unfranked
Plato Income Maximiser Ltd (ASX:PL8) is paying 0.4 cents fully franked
Pro-Pac Packaging Limited (ASX:PPG) is paying 0.4 cents fully franked
Service Stream Limited (ASX:SSM) is paying 5 cents fully franked

Currencies

One Australian Dollar at 7:55 AM was buying 72.94 US cents, 56.76 Pence Sterling, 77.09 Yen and 61.46 Euro cents.

Commodities

Iron Ore gained 1.4 per cent to US$130.17.
Iron Ore futures suggest a 0.3 per cent gain.
Gold has added $15.80 to US$1964 an ounce.
Silver was up $0.50 to US$27.23 an ounce.
Oil was down $0.07 to US$37.99 a barrel.
 
Copyright 2020 – Finance News Network


Source: Finance News Network

Share this post

Related Posts

28Sep

US shares climb on the back of tech-led rally: Local shares to open higher

28 Sep 2020 - Australian shares are poised to open higher following upbeat overseas leads, with easing restrictions in Melbourne adding to positive sentiment. On Wall Street shares ended the week higher amid progress on a more-than $US2 trillion stimulus package that could be voted on this week.

Read More
19Apr

US markets eyeing another negative week

19 Apr 2024 - US jobless numbers held steady overnight, adding yet another data point that suggests the US economy is firing on all cylinders.

Read More
14Jun

S&P 500 sets another record on easing inflation data

14 Jun 2024 - The S&P 500 and Nasdaq both set a fourth consecutive closing record as fresh inflation data pointed to a further easing in price pressures.

Read More
04Oct

Stocks rise as bond yields fall: All eyes on RBA rate decision today

04 Oct 2022 - Stocks rallied Monday for the start to the new month and quarter, as Treasury yields eased from levels not seen in roughly a decade.The Dow Jones Industrial Average ended the day 2.7% higher, the S&P 500 rose 2.6% after falling Friday to its lowest level since November 2020 and the Nasdaq advanced 2.3%.

Read More
10Jun

All time highs for big tech companies: ASX poised to open lower

10 Jun 2020 - Following a fall from US markets overnight, the ASX looks set to open lower this morning. Stocks regained US$21 trillion in value from a March low. The Nasdaq hit a new record with Facebook, Apple, Amazon and Microsoft all hit new all-time highs yesterday. Oil jumped as fuel demand recovers from April’s collapse. Meridian Energy (ASX:MEZ) are pleased to see a decision has been made by the Electricity Authority on the Transmission Pricing Methodology Guidelines...

Read More
15Jul

Dow Jones leads broader market higher

15 Jul 2024 - Markets resumed their march upwards with the Dow Jones hitting new highs in intraday trading, as investors continued to rotate into the broader market and smaller companies.

Read More
11Jan

Afternoon update: ASX up 0.5%, Bitcoin ETFs approved in US

11 Jan 2024 - Australian shares are up 0.5 per cent by mid-afternoon, boosted by Wall Street's mega-cap tech stock rally and the approval of US bitcoin exchange-traded funds.

Read More
05Aug

Gold tops US$$2,023:Aus shares close 0.6% lower

05 Aug 2020 - The Australian share market has been flat all day after dropping at the open. The big banks fell today, while the miners kept afloat. On the commodities front, we’ve seen gold top a record at US$$2,028. Virgin Australia (ASX:VAH) announced plans to slim down staff to 6,000 when travel resumes, while cutting about 3,000 jobs to go to new owners Bain Capital. Telstra (ASX:TLS) has entered an agreement to sell its data centre in Clayton,...

Read More
17Aug

JB Hi-Fi lifts retailers as banks slide: Aus shares close 0.8% lower

17 Aug 2020 - The Australian sharemarket finished the day largely in the red despite gains for retail stocks such as JB Hi-Fi and Harvey Norman. JB Hi-Fi ended the session up over 5 per cent after announcing a 21 per cent jump in profit and an almost 80 per cent increase to its final dividend.

Read More
30May

Rising treasury yields weigh heavily on US markets

30 May 2024 - Another solid performance from AI darling Nvidia was not enough as stocks were broadly lower on Wednesday with Treasury yields continuing to edge higher on the return of concerns around sticky inflation and Fed rate cut timing.

Read More