AUD drops as economic fall out from bushfires in considered: ASX poised for a flat start

  • Home
  • Latest Market News
  • AUD drops as economic fall out from bushfires in considered: ASX poised for a flat start
08Jan

AUD drops as economic fall out from bushfires in considered: ASX poised for a flat start

 

Following weak leads from US markets, the Australian share market looks set to open flat this morning. Meanwhile, over in the US, Tesla shares have doubled in the last six months, with the carmaker now seeing market capitalization of around $84.5 billion – this is as much as General Motors and Ford combined. As tensions rise in the Middle East US investors are showing muted response. On the commodities front, oil continues to retreat from an earlier rise mainly due to the uncertainty in the middle east. The Aussie dollar fell as the economic fall out from the bushfires is considered.

Local economic news 

ABS Job Vacancies, November 2019.Building Approvals, Australia, November 2019.

Markets

Wall Street closed mostly lower yesterday: The Dow Jones Industrial Average closed 0.4 per cent lower at 28,584, the S&P 500 lost 0.3 per cent to 3237 and the NASDAQ stayed flat at 9069.

European markets closed mixed: London’s FTSE was flat, Paris remained steady and Frankfurt added 0.8 per cent.

Asian markets closed higher: Tokyo’s Nikkei added 1.6 per cent, Hong Kong’s Hang Seng rose 0.3 per cent and China’s Shanghai Composite closed 0.7 per cent higher

Taking all of this into equation, the SPI futures are pointing to a 3-point rise or a steady start of trade.

Yesterday, the Australian share market closed 1.4 per cent higher or 91 points up at 6826.

Company news 

Emeco (ASX:EHL) is looking to increase its Revolving Credit Facility (RCF) from $65 million to $100 million. Ian Testrow, Emeco Managing Director and CEO, said: “The increased RCF limit provides the Company with increased liquidity and flexibility reflective of the growth and financial strength Emeco has achieved since it first established the RCF, and facilitates the continued growth of Emeco. The increased facility limit will take effect 5 February 2020. Shares in Emeco (ASX:EHL) closed 1.35 per cent lower at $2.19 yesterday.

Ex-dividends

Concentrated Leaders Fund (ASX:CLF) is paying a dividend of 1.5 cents fully franked

Currencies

One Australian Dollar at 9:15 AM was buying 68.69 US cents, 52.35 Pence Sterling, 74.50 Yen and 61.63 Euro cents.

Commodities

Iron Ore has lost 0.5 per cent to US$95.11
Iron Ore futures suggest a 1.8 per cent rise.
Gold has added $7.30 to US$1576 an ounce.
Silver has gained $0.26 to US$18.43 an ounce.
Oil has lost $0.58 to US$62.69 a barrel.
  
Copyright 2020 – Finance News Network


Source: Finance News Network

Share this post

Related Posts

14Dec

Afterpay soars to record high: ASX ends 0.3% higher

14 Dec 2020 - The local sharemarket has started the week on a positive note despite weak leads from Wall Street. The S&P/ASX200 rose 18 points or 0.3 per cent to 6660. Wesfarmers shares have added 2.8 per cent today to hit a record high of $50.985. Afterpay shares rose 8.8 per cent to a record high of $109.93 amid optimism about its partnership and as the stock closes in on its entry into the ASX20.

Read More
06Jan

Gold miners push up the materials sector: ASX tracking 0.3% lower at noon

05 Dec 2021 - The ASX opened lower this morning. The S&P/ASX 200 Index 20 points down or 0.3% lower at 6,664. Futures are pointing to a fall of 12 points. Gold miners are pushing the materials sector higher with shares in Ramelius Resources (ASX:RMS) on the up. Shares in Unibail-Rodamco-Westfield (ASX:URW) have seen a drop today.

Read More
11Dec

US/China poised to delay tariffs: ASX set to open flat

11 Dec 2019 - Following a lacklustre day yesterday from the US markets, the ASX looks set to open flat this morning. It’s been reported that US and China are planning on delaying the next round of tariffs set for Sunday. The Flight Centre Travel Group (ASX:FLT) has expanded its global leadership team to increase the focus on leisure and corporate travel growth.

Read More
04Sep

Afternoon update: Aus shares up 0.43%, Liontown soars on revised takeover bid

04 Aug 2023 - The S&P/ASX 200 is trading 0.43 per cent higher at 7,309.30.

Read More
18May

Wall St trips as tech dips: ASX to open higher

18 May 2021 - The ASX is to open higher despite Wall St’s pullback led by technology shares. All three indexes closed in the red as inflation fears continued to linger. Morgan Stanley upgrades Treasury Wine Estate (ASX:TWE) and Ord Minnett upgrades TPG Telecom (ASX:TPM).

Read More
26May

Wall St loses momentum, gold climbs near 4-month high: ASX to fall

26 May 2021 - The ASX is set to fall following Wall St closing in the red as all three indexes reversed their gains. Morgan Stanley rates Synlait Milk (ASX:SM1) as a hold with a price target of $2.55. Profit results from ALS (ASX:ALQ) and Mesoblast (ASX:MSB) are due today.

Read More
21Jul

Johnson & Johnson helps the Dow jump for ninth consecutive day

21 Jul 2023 - The Dow Jones Industrial Average jumped for a ninth consecutive day overnight. It was the Dow’s best daily winning streak since 2017.

Read More
22Jun

Wall St jumps, Humm, Janus Henderson, Lumos Diagnostics, AMP, Coronado Coal on watch: ASX to rise

22 Jun 2022 - US stocks rebounded as dip buyers emerged after the long weekend. Energy and miners led the rally on Wall St, Europe and ASX. What to look out for on the ASX today.

Read More
19Mar

US stocks tumble amid inflation concerns: Aus shares to open lower

19 Mar 2021 - Australian futures are indicating a drop at the open. Stocks on Wall Street slumped overnight as Treasury yields reached some of the highest levels in more than a year. US President Joe Biden announced that the US had reached its goal of administering 100 million Covid-19 vaccine shots in the first 100 days of his presidency, reaching the goal with 6 weeks to spare. Meanwhile, European Union countries including France, Italy and Germany have restarted...

Read More
26Sep

Fonterra post net loss of $605m: ASX set to open higher

26 Sep 2019 - Following positive leads from US markets, the ASX looks set to open higher this morning. The S&P 500 slowed a three-day slide helped by tech and banks. As Trump's impeachment drama continues, he suggested a trade deal with China was possible and also looked into a pact with Japan. Diary giant Fonterra (ASX:FSF) has posted a net loss after tax of $605 million for the July year, slightly better than expected.

Read More