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

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