Vaccine news keeps markets positive: ASX poised to open higher

12Nov

Vaccine news keeps markets positive: ASX poised to open higher

 

The Australian share market looks set to open higher this morning for the sixth day in a row as tech shares jumped up in the US. Global markets are still excited about the Covid-19 vaccines expected. Russia reports that early results from trials of their Covid vaccine suggest it could be 92 per cent effective. It comes after Pfizer and BioNTech said their vaccine could prevent 90 per cent of people getting Covid-19, based on a study of 43,500 people.

Economic News

Consumer Inflation expectations for November

Markets

Wall Street closed mixed yesterday: The Dow Jones Industrial Average fell 0.1 per cent to 29,398, the S&P 500 gained 0.8 per cent to 3573 and the NASDAQ closed over 2 per cent higher at 11,786.

European markets closed higher, London’s FTSE gained 1.4 per cent, Paris added 0.5 per cent and Frankfurt closed 0.4 per cent higher.

Asian markets closed mixed, Tokyo’s Nikkei gained 1.8 per cent, Hong Kong’s Hang Seng fell 0.3 per cent and China’s Shanghai Composite closed 0.5 per cent lower.

Taking all of this into equation, the SPI futures are pointing to a 0.5 per cent gain.

Yesterday, the Australian share market closed 1.7 per cent higher at 6450.

Company news

Telstra (ASX:TLS) is set to restructure into three separate entities, InfraCo Fixed, InfraCo Towers and ServeCo. They say this will enable them to take advantage of potential monetisation opportunities for its infrastructure assets.The restructure is expected to be complete by December 2021. Telstra also today reconfirmed its FY21 guidance. Shares in Telstra (ASX:TLS) closed 3.1 per cent higher at $2.99 yesterday.

Ex-Dividends

Acorn Capital Investment Fund Ltd (ASX:ACQ) is paying 3.75 cents fully franked
National Australia Bank Ltd (ASX:NAB) is paying 30 cents fully franked

Currencies

One Australian Dollar at 8:40 AM was buying 72.78 US cents, 55.07 Pence Sterling, 76.74 Yen and 61.80 Euro cents.

Commodities

Iron Ore has added 1.9 per cent to US$124.56.
Iron Ore futures suggest 0.7 per cent gain.
Gold has lost $12.40 to US$1864 an ounce.
Silver was down $0.11 to US$24.35 an ounce.
Oil was up $0.24 to US$41.60 a barrel.

And finally a quick reminder our next online event is Nov 17. 5 companies presenting starting 12:30pm, details here https://www.finnewsnetwork.com.au/page/investor-events. Please register to secure a spot.

 
Copyright 2020 – Finance News Network


Source: Finance News Network

Share this post

Related Posts

02Nov

Stocks rally as the Fed keeps rates unchanged

02 Nov 2023 - Stocks rallied Wednesday, rebounding from a dismal past three months, after the Federal Reserve kept interest rates unchanged for a second consecutive time - leading investors to think the central bank would stay put for the rest of the year.

Read More
09Sep

S&P 500 plunges on tech collapse and economic concerns

09 Sep 2024 - The S&P 500 suffered its worst weekly decline since March 2023 on Friday, as investors grappled with a weaker-than-expected August jobs report and shed leading tech stocks.

Read More
30Dec

Wall St mixed on S&P 500 70th record close, M&As in lithium sector to gear up: ASX poised to rise

30 Dec 2021 - Mixed closed around the major indexes around the globe on thin volume. M&As in lithium sector to gear up with 48 companies set to trade ex-div on ASX today.

Read More
01Oct

Great rally for the fourth quarter: ASX closed 1% higher

01 Oct 2020 - It has been a positive day of trade for the ASXt, with a great start to the fourth quarter. The local bourse managed to close almost 1 per cent higher. Shares in plumbing supplies group Reliance Worldwide (ASX:RWC) shot up today after reporting strong first quarter sales in its US business. Aeris Environmental (ASX:AEI) has successfully partnered with SABCO, an Australian company specialising in cleaning and garden products for over a century.

Read More
28Oct

Wall St rises on earnings and trade optimism: Aus shares to open higher

28 Oct 2019 - The local sharemarket is poised to open higher following a positive session in the US on Friday. Stocks rose on Wall St on Friday as investors were buoyed by strong earnings results from Intel and signs of progress in US-China trade talks. Blackmores (ASX:BKL) has announced the completion of the acquisition of Catalent Australia’s world-class manufacturing facility in Braeside, Victoria.

Read More
25Feb

AUD hits a three year high against the USD: ASX poised to open higher

25 Feb 2021 - Following positive leads from US markets, the ASX looks set to open higher this morning. In his second day of testimony to Congress, US Federal Reserve Chairman Jerome Powell has pledged low rates until inflation exceeds 2% boosting confidence in US investors. The Australian dollar hit a fresh three-year high touching almost 80 US cents. The a2 Milk Company (ASX:A2M) experienced a challenging first half with NPAT down 35.1%.

Read More
05Oct

Bear market bounce, as Musk revives his bid for Twitter

05 Oct 2022 - Stocks surged Tuesday as Wall Street built on a sharp rally seen in the previous session as bond yields continued to fall. The rally was broad based with 97% of the S&P 500 up for the third time in 5 days.

Read More
28Aug

Wall St falls after Kabul blast, Why Platinum is an underperform: ASX to dip

27 Aug 2021 - Major indexes around the globe sold off ahead of the Fed’s virtual economic symposium at Jackson Hole tomorrow amid the two explosions outside the Kabul airport. Asian markets continued to digest “common prosperity” comments. A deep dive on what it could mean for the economy. Coverage on the yesterday's earnings on the ASX.

Read More
16Apr

Virgin Australia (ASX:VIR) suspends trading: Aus shares 1.3% lower at noon

16 Apr 2020 - The Australian share market opened lower this morning following a sell-off on Wall Street amid further COVID-19 uncertainty and is now trading 1.3 per cent lower at noon. In breaking news Virgin Australia (ASX:VIR) has suspended trading of its shares.

Read More
21Feb

US markets closed: YTD figures are currently strong

21 Feb 2023 - Overnight, the US stock and bond markets were closed, on account of Presidents' Day. We thought we'd update you on where markets stand calendar year to date. YTD, the Nasdaq is the best performer out of the three major indexes, up 13.5%. This is then followed by the S&P 500, up 6.7%. The Dow is the worst perfomer, however is still up 2.1% year to date.

Read More