Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 


Morning thoughts and opening prices 24/2/12

Morning thoughts and opening prices


In US trade, markets advanced after unemployment claims data beat expectations, holding steady at four-year lows and on an encouraging housing report. This saw the S&P 500 trade near 10-month highs and the Dow once again flirt with the 13,000 level.

Among the major averages, the Dow Jones Industrial Average was up 0.4% to close at 12986. The S&P was also 0.4% higher at 1363, while the NASDAQ climbed 0.8% to finish at 2957.

With US markets once again approaching key levels, ‘Dow 13,000’, and the S&P edging up to its post- GFC high of 1370, we begin to wonder if the local market can finally break the 4300 barrier which it has failed to close above on numerous attempts. Some investors remain hesitant that these levels will trigger a bout of profit taking.

US dollar weakness helped to support gold, crude oil and equities to some extent. As a result, there was a mild improvement in risk sentiment, which will support the Aussie market this morning. Ahead of the open, we are calling the ASX 200 up 0.1% at 4291. However, there will be several factors at play today including a spiking oil price, the current political crisis in Australia and some earnings reports. Some of the companies reporting today are Crown, Resolute Mining and Hastings Diversified Fund. On the economic front, we have RBA Governor Glen Stevens speaking this morning.

MarketPrice at 8:30am AESTChange Since Australian Market ClosePercentage Change
AUD/USD1.07130.00680.64%
ASX (cash)429150.12%
US DOW (cash)12999550.42%
US S&P (cash)1365.080.59%
UK FTSE (cash)5951280.47%
German DAX (cash)6833-22-0.32%
Japan 225 (cash)960590.09%
Rio Tinto Plc (London)36.900.270.74%
BHP Billiton Plc (London)20.890.020.10%
BHP Billiton Ltd. ADR (US) (AUD)36.230.000.00%
US Light Crude Oil (Apr)108.422.522.38%
Gold (spot)1781.08.00.45%
Aluminium (London)2274.00-7-0.31%
Copper (London)8390.00-45-0.53%
Nickel (London)20000.00-100-0.50%
Zinc (London)2048.00-19-0.92%
RBA Cash Rate to be decreased by 25bp (Mar) (%)27.0000.00%

IG Markets provides round-the-clock CFD trading on currencies, indices and commodities. The levels quoted in this email are the latest tradeable price for each market. The net change for each market is referenced from the corresponding tradeable level at yesterday’s close of the ASX. These levels are specifically tailored for the Australian trader and take into account the 24hr nature of global markets.

Please contact IG Markets if you require market commentary or the latest dealing price.


ENDS

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Trade Plans: Prime Minister's Speech To International Business Forum

"The work to improve public services, build infrastructure, and solve social problems is possible only because we have enjoyed sustained, solid economic growth. A big reason for that is the Government’s consistent agenda of economic reform, and our determination to open up more opportunities for trade with the world." More>>

ALSO:

Media: TVNZ Flags Job Cuts To Arrest Profit Decline

Chief executive Kevin Kenrick said the changes were aimed at creating "a sustainable future video content business for TVNZ in an ever-changing media market." More>>

ALSO:

Reserve Bank: Wheeler Keeps OCR At 1.75%

Reserve Bank governor Graeme Wheeler kept the official cash rate unchanged at 1.75 percent, as expected, and reiterated his view that the benchmark rate doesn't need shifting for the foreseeable future. More>>

ALSO:

f work for Pumpkin Patch staff

Retail: Pumpkin Patch Brand, IP Sold To Catch Group

The receivers of failed children's clothing retailer Pumpkin Patch have confirmed that the company's brand and intellectual property have been sold to Australian online retailer Catch Group. More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news