US job growth lifts confidence slightly: Aus shares to open in the green

10Aug

US job growth lifts confidence slightly: Aus shares to open in the green

 

Following mixed leads from Wall Street, the Australian share market looks set to start the week in the green. The greenback bounced on the back of better-than-expected US job growth. Washington is still in talks over the stimulus package as the pandemic continues to steal the focus.

The SPI futures are pointing to a 0.7 per cent gain. The Australian share market lost 37 points on Friday to close at 6,005.

Local economic news

Household impacts of Covid-19 survey will be released by the ABS today, weekly payroll figures on Tuesday, wages figures for the June quarter on Wednesday, and the July jobs report on Thursday.

Figures from around the globe

Wall Street closed mixed on Friday: The Dow Jones Industrial Average gained 0.2 per cent to close at 27,433, the S&P 500 added 0.1 per cent to close at 3351 and the NASDAQ closed 0.9 per cent lower at 11,011.

European markets closed higher: London’s FTSE added 0.1 per cent, Paris also added 0.1 per cent and Frankfurt closed 0.7 per cent higher.

Asian markets closed lower, Nikkei lost 0.4 per cent, Hong Kong’s Hang Seng fell 1.6 per cent and China’s Shanghai Composite closed almost 1 per cent lower.

Company news

Charter Hall Long WALE REIT (ASX:CLW) reported a 72 per cent rise in operating earnings to $121.9 million in its full-year results on Friday, reporting no impact from the pandemic. The value of its properties increased by $96 million while seeing rental growth of 2.6 per cent over the year. Shares in Charter Hall Long Wale REIT (ASX:CLW) closed 5.07 per cent higher at $4.97 on Friday.

Insurance Australia Group (ASX:IAG) delivered a net profit result of $435 million for FY2020, down 60 per cent on the previous year. Shares in IAG (ASX:IAG) closed 0.79 per cent lower at $5.03 on Friday.

Reporting season

We can watch out for an update from Commonwealth Bank (ASX:CBA) on Wednesday and AMP (ASX:AMP) and Telstra (ASX:TLS) on Thursday.

Currencies

One Australian Dollar at 7:25 AM was buying 71.61 US cents, 54.85 Pence Sterling, 75.84 Yen and 60.76 Euro cents.

Commodities

Iron Ore is down 1.7 per cent to US$119.21.
Iron Ore futures suggest a 0.2 per cent fall.
Gold has lost $41.40 to US$2028 an ounce.
Silver was down $0.86 cents to US$27.54 an ounce.
Oil has lost $0.73 to US$41.22 a barrel.  
Copyright 2020 – Finance News Network


Source: Finance News Network

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