Trump’s political turmoil see US stocks fall: ASX set to open lower

25Sep

Trump’s political turmoil see US stocks fall: ASX set to open lower

 

The Australian share market looks set to open lower this morning after US stocks took a dive yesterday some seeing their worst falls in over a month as uncertainties arose over President Donald's Trump's future. The house Speaker in the US is to announce a formal impeachment inquiry over the Ukraine controversy surrounding their leader and investigations into Joe Biden's family. Trump also took a harsh stance against China's approach to trade knocking shares.

Local economic news 

The ABS will release figures International Merchandise Trade: Confidential Commodities List, August 2019.

Engineering Construction Activity, June 2019.

Markets

Wall Street closed lower yesterday: The Dow Jones Industrial Average lost 0.5 per cent to close at 26,808, the S&P 500 closed 0.8 per cent lower at 2967 and the NASDAQ dipped 1.5 per cent to 7994.

European markets closed lower: London’s FTSE fell 0.5 per cent, Paris lost 0.04 per cent and Frankfurt was down 0.3 per cent.

Asian markets closed higher: Tokyo’s Nikkei gained 0.1 per cent, Hong Kong’s Hang Seng added0.2 per cent and China’s Shanghai Composite gained 0.3 per cent.

Taking all of this into equation, the SPI futures are pointing to a 1.1 per cent fall

Yesterday, the Australian share market closed flat at 6749.

Company news

OceanaGold Corporation (ASX:OGC) is pleased to announce that further extensive drilling at the Martha Underground Project at the Waihi Gold Mine in New Zealand supports an increase to the size of the exploration target. In addition to the current 331,000 ounces of Indicated gold resources and 667,000 ounces Inferred gold resources, they are now targeting an additional 8 to 10 million tonnes of ore grading 4 to 6 grams per tonne of gold. Shares in Oceanagold Corporation (ASX:OGC) closed 0.75 per cent lower at $3.98 yesterday.

Ex – Dividends

AP Eagers Limited (ASX:APE) is paying 14 cents fully franked
Amyf Four Ltd (ASX:AYK) is paying 114 cents 43 per cent franked
Amyf Five Ltd (ASX:AYZ) is paying 119 cents 76 per cent franked
Cedar Woods Properties (ASX:CWP) is paying 13.5 cents fully franked
Garda Diversified Property Fund (ASX:GDF) is paying 2.25 cents unfranked
Southern Cross Electrical Engineer Ltd (ASX:SXE) is paying 3 cents fully franked
WPP Aunz Ltd (ASX:WPP) is paying 2.3 cents fully franked

Currencies

One Australian Dollar at 7:40AM was buying 68.00 US cents, 54.46 Pence Sterling, 72.84 Yen and 61.74 Euro cents.

Commodities

Iron Ore has lost 3.5 per cent to US$90.83.
Iron Ore futures suggest a 1.8 per cent drop.
Gold has gained $7.50 to US$1539 an ounce.
Silver has lost $0.04 to US$18.67 an ounce.
Oil has dropped $1.27 to US$56.82 a barrel.
 
Copyright 2019 – Finance News Network


Source: Finance News Network

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