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

 

Scoop Business: NZ Dollar Catches Breath After "Goldilocks" Slump

The New Zealand dollar edged up following its dramatic slump yesterday after the Reserve Bank confirmed speculation it intervened in the currency market last month and PM John Key suggested a “Goldilocks” level far lower than at present. More>>

ALSO:

Biosecurity: Kiwifruit Claim To Hold Officials Accountable For Psa

Kiwifruit growers have joined forces to hold Biosecurity NZ accountable in the courts for its negligence in allowing 2010’s Psa outbreak that devastated New Zealand’s kiwifruit industry and exports. Foundation claimants representing well ... More>>

ALSO:

Poison: Anglers Advised Not To Eat Trout In 1080 Areas

With the fishing season opening in just a few days (1 October 2014), anglers are being warned by the Department of Conservation(DOC) not to eat trout from pristine backcountry waters and their downstream catchments, where the department is conducting 1080 poisoning operations. More>>.

ALSO:

Quotas: MPI Swoop On Suspected Fraudulent Fishing Activity

Ministry for Primary Industries (MPI) compliance officers swooped on a Hawkes Bay fishing enterprise today to secure evidence in an investigation into suspected fraudulent activity... “The investigation involves activity throughout the commercial supply chain – catching, landing, processing and exporting.” More>>

ALSO:

Scoop Business: Fonterra Slashes 2015 Milk Payout, Earnings Tumble 76%

Fonterra Cooperative Group cut its forecast 2015 milk price payout by about 12 percent, citing weaker global dairy prices and said there is a risk of further declines given strong global milk production. More>>

ALSO:

Scoop Business: RBNZ Keeps OCR At 3.5%, Signals Slower Pace Of Future Hikes

Reserve Bank governor Graeme Wheeler kept the official cash rate at 3.5 percent and signalled he won’t be as aggressive with future rate hikes as previously thought as inflation remains tamer than expected. The kiwi dollar fell to a seven-month low. More>>

ALSO:

Weather: Dry Spells Take Hold In South Island

Many areas in the South Island are tracking towards record dry spells as relatively warm, dry weather that began in mid-August continues... for some South Island places, the current period of fine weather is quite rare. More>>

ALSO:

Get More From Scoop

 
 
Computer Power Plus

Standards New Zealand

Standards New Zealand

Mosh Social Media
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news