US Manufacturing Index signals contraction: ASX set to open lower

03Sep

US Manufacturing Index signals contraction: ASX set to open lower

 

Following negative leads from US markets, the Australian share market looks set to open lower this morning after US stocks fell as an American manufacturing report signaled contraction for the first time in three years. Over in the UK, Sterling fell against the US dollar only to see a slight rally after touching its lowest level since 2016. There's speculation Prime Minister Boris Johnson could be planning a general election in the coming months. Brexit chaos continues as MPs voted to take control of the House of Commons allowing them to block a no-deal Brexit. On the commodities front, oil lost as safe haven gold jumped $27.

Local economic news 

We can expect to see the second quarter GDP and AiG will release the performance of services for August.

Markets

Wall Street closed lower yesterday: The Dow Jones Industrial Average dropped 1.1 per cent to close at 26,118, the S&P 500 closed 0.7 per cent lower at 2906 and the NASDAQ fell 1.1 per cent to 7874.

European markets closed lower: Paris dropped 0.2 per cent and Frankfurt fell 0.5 per cent while London’s FTSE dipped 0.4 per cent.

Asian markets closed mixed: Tokyo’s Nikkei closed almost flat, Hong Kong’s Hang Seng was down 0.4 per cent and China’s Shanghai Composite closed 0.2 per cent higher.

Taking all of this into equation, the SPI futures are pointing to a 0.6 per cent fall.

Yesterday, the Australian share market closed 6 points or 0.1 per cent lower at 6573.

Company news 

Following months of uncertainty Oil Search (ASX:OSH) released a statement from the Papua New Guinea Government to say it has now cleared the Papua LNG deal with French oil major Total SA. However, the Minister for Petroleum Kerenga Kua says, this Government is committed to doing things differently from the past. The billion liquefied natural gas project was facing uncertainty after the ousting of the country's prime minister. Papua LNG project is a joint venture between Total, Oil Search and Exxon Mobil Corp. Shares in Oil Search (ASX:OSH) closed 2.14 per cent higher at $6.68 yesterday.

Ex – Dividend

AUB Group Ltd (ASX:AUB) is paying 32.5 cents fully franked
Clinuvel Pharmaceuticals Limited (ASX:CUV) is paying 2.5 cents unfranked
Ellerston Asian Investments Ltd (ASX:EAI) is paying 1.5 cents fully franked
Ellerston Global Investments Ltd (ASX:EGI) is paying 1.5 cents fully franked
Estia Health Ltd (ASX:EHE) is paying 7.8 cents fully franked
Event Hospitality and Entertainment Ltd (ASX:EVT) is paying 31 cents fully franked
Finbar Group Limited (ASX:FRI) is paying 3 cents fully franked
Globe International Limited (ASX:GLB) is paying 7 cents unfranked
Iluka Resources (ASX:ILU) is paying 5 cents fully franked
IRESS Limited (ASX:IRE) is paying 16 cents 10 per cent franked
InvoCare Limited (ASX:IVC) is paying 17.5 cents fully franked
Lifestyle Communities Limited (ASX:LIC) is paying 3 cents fully franked
Link Administration Holdings Ltd (ASX:LNK) is paying 12.5 cents fully franked
MACA Limited (ASX:MLD) is paying 2.5 cents fully franked
Medibank Private Ltd (ASX:MPL) is paying 9.9 cents fully franked
Mineral Commodities Limited (ASX:MRC) is paying 0.6 cents 15 per cent franked
PM Capital Global Opportunities Fund Ltd (ASX:PGF) is paying 2 cents fully franked
Perpetual Limited (ASX:PPT) is paying 125 cents fully franked
QANTM Intellectual Property Ltd (ASX:QIP) is paying 4.8 cents fully franked
Sunland Group Ltd (ASX:SDG) is paying 4 cents fully franked
Salmat Limited (ASX:SLM) is paying 5 cents fully franked
Treasury Wine Estates Ltd (ASX:TWE) is paying 20 cents fully franked

Currencies

One Australian Dollar at 7:40AM was buying 67.57US cents, 55.92Pence Sterling, 71.59 Yen and 61.59 Euro cents.

Commodities

Iron Ore futures suggest a 0.6 per cent gain.
Gold has gained $27 to US$1556 an ounce.
Silver has added $1.02 cents to US$19.36 an ounce.
Oil has lost $0.88 to US$53.93 a barrel.
 
Copyright 2019 – Finance News Network


Source: Finance News Network

Share this post

Related Posts

24Oct

Markets rally as earnings seasons kicks off in the US

24 Oct 2022 - Stocks climbed on Friday as Wall Street closed a volatile week on a high note despite some disappointing earnings reports. The move comes ahead of two big weeks of central bank policy decisions, and earnings. Next week we see earnings from 150 S&P500 companies including Microsoft, Meta, Amazon, General Motors & Coca Cola to name a few.

Read More
06May

Morrison working to get Australia back in business: ASX poised to open lower

06 May 2020 - Despite positive leads from US markets, the ASX looks set to open lower. Prime Minister Scott Morrison spoke with state and territory leaders yesterday who agreed to take steps to get Australia back in business. Meanwhile over in Europe, Sweden, Poland, Romania and the UK are not seeing a drop in coronavirus cases. Electronic donation payment business Pushpay (ASX:PPH) report a 15% decline in NPAT by US$2.8m over the year.

Read More
08Aug

Afternoon update: ASX up 0.14% as James Hardie records all-time high profit margins

08 Aug 2023 - The S&P/ASX 200 index is trading 0.14 per cent higher at 7,319.60.

Read More
18Jun

ASX tumbles as unemployment reaches 7.1%: Aus shares down 1.6% at noon

18 Jun 2020 - The Australian share market has been sliding since the open following mostly negative leads from Wall Street. The much-anticipated labour force data revealed that the national unemployed rate climbed to 7.1 per cent in May. All of the sectors except Consumer Staples have seen a sell off this morning. Shares in payment solution provider, Splitit Payments (ASX:SPT) are up almost 44% this mornign after it signed a multi-year agreement with Mastercard (NYSE:MA).

Read More
09Oct

China-US trade talks lose optimism: ASX poised to open lower

09 Oct 2019 - Following negative leads from US markets, the ASX looks set to open lower this morning. Wall Street took a negative turn yesterday as investor optimism around the US-China trade talks took a dip. And one of the directors of the Afterpay Touch Group (ASX:APT) David Hancock has resigned.

Read More
02Sep

Sluggish start to week, Nickel prices & companies soar: Aus shares 0.1% lower at noon

02 Sep 2019 - Sluggish start to the trading week, Aussie shares break the four-day winning streak. Nickel prices skyrocketed to five-year highs on Indonesia banning ore exports from Dec. Australian manufacturing stronger than expected for new financial year. Link Group (ASX:LNK) upgraded with PT of $6.20. Western Areas (ASX:WSA) shares surge to year high on Nickel price rise plus on new discovery of high-grade nickel-copper at JV. Netwealth Group (ASX:NWL) Heine family reduce stake.

Read More
20Jul

Wall St sinks on bond rally as investors flee stocks, Why Westpac is bearish: ASX to fall

20 Jul 2021 - A market meltdown across the globe was seen as resurging fears of the delta variant accelerates. Rising cases are causing international stocks to skid as it threatens the pace of the economic recovery. Oil prices tumbled after OPEC+ agreed to boost supply to pre-pandemic levels. Why Westpac (ASX:WBC) is bearish for StockWatch. ANZ and IAG release news.

Read More
29Apr

Wall St slips as Fed holds rates: ASX to rise

29 Apr 2021 - The ASX is set to rise despite Wall St dipping into the red. US stocks slipped as the Federal Reserve held rates and maintained their support for the economy. Australian shipbuilder Austal (ASX:ASB) is set to sell 40% of its stake in a shipbuilding company in China.

Read More
17Mar

US stocks rise after banks look to bail out First Republic

17 Mar 2023 - Stocks rose Thursday as Wall Street grew increasingly optimistic after a group of banks said it would aid First Republic amid the industry’s crisis.

Read More
07Sep

Aus shares rebound: CSL pushes higher after news of government funding for COVID-19 vaccine

07 Sep 2020 - Australian shares are bouncing back from a dip at the open. CSL has risen almost 1 per cent on news of its COVID-19 supply deal with the Federal Government. BHP Group has risen 2.5 per cent and Rio Tinto is up almost 3 per cent. The S&P/ASX 200 index is 25 points up or 0.4 per cent higher at 5950. On the futures market the SPI is 33 points higher.

Read More