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

 


Modest gains following mixed leads from US

11.31 AEST, Thursday 6 December 2012

Modest gains following mixed leads from US
By Miguel Audencial (Sales Trader, CMC Markets)

The Australian share market had modest gains to start the session today with mixed leads from US economic data and the stalemate on fiscal cliff negotiations. The market is likely to swing between small gains and losses for today’s session unless the Australian employment figures, released later today, are significantly different from expectations.

The energy sector underperformed the market this morning due to weaker crude oil prices. While the materials sector is outperforming with bellwethers BHP and RIO leading the charge.

The US had two important economic data releases overnight. The ADP Non-Farm payroll figure disappointed, falling short of expectations. The ISM Non-Manufacturing figure provided a more encouraging number of 54.7, above expectations of 53.6.

Fiscal-cliff negotiations continue to drag on with politicians appearing to use the public forum to campaign their arguments rather than discussing it amongst themselves to reach a compromise. Earlier this week, President Obama used Twitter to relay his views to his followers.

Crude oil was lower overnight despite a higher than expected decrease in supplies. Inventories dropped by 2.4 million barrels, 2 million more than expected. A stronger US dollar is partly to blame for this. Another reason for the weaker price is that gasoline supplies reported a higher than predicted increase. Apprehensions about the ongoing fiscal cliff negotiations cannot be discounted.

US unemployment data is due later tonight and the widely watched US Non-Farm figure will be released on Friday.

http://www.cmcmarkets.com/


© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

NIWA: 2016 New Zealand’s Warmest Year On Record

Annual temperatures were above average (0.51°C to 1.20°C above the annual average) throughout the country, with very few locations observing near average temperatures (within 0.5°C of the annual average) or lower. The year 2016 was the warmest on record for New Zealand, based on NIWA’s seven-station series which begins in 1909. More>>

ALSO:

Farewell 2016: NZ Economy Flies Through 2016's Political Curveballs

Dec. 23 (BusinessDesk) - New Zealand's economy batted away some curly political curveballs of 2016 to end the year on a high note, with its twin planks of a booming construction sector and rampant tourism soon to be joined by a resurgent dairy industry. More>>

ALSO:


NZ Economy: More Growth Than Expected In 3rd Qtr

Dec. 22 (BusinessDesk) - New Zealand's economy grew at a faster pace than expected in the September quarter as a booming construction sector continued to underpin activity, spilling over into related building services, and was bolstered by tourism and transport ... More>>

  • NZ Govt - Solid growth for NZ despite fragile world economy
  • NZ Council of Trade Unions - Government needs to ensure economy raises living standards
  • KiwiRail Goes Deisel: Cans electric trains on partially electrified North Island trunkline

    Dec. 21 (BusinessDesk) – KiwiRail, the state-owned rail and freight operator, said a small fleet of electric trains on New Zealand’s North Island would be phased out over the next two years and replaced with diesel locomotives. More>>

  • KiwiRail - KiwiRail announces fleet decision on North Island line
  • Greens - Ditching electric trains massive step backwards
  • Labour - Bill English turns ‘Think Big’ into ‘Think Backwards’
  • First Union - Train drivers condemn KiwiRail’s return to “dirty diesel”
  • NZ First - KiwiRail Going Backwards for Xmas
  • NIWA: The Year's Top Science Findings

    Since 1972 NIWA has operated a Clean Air Monitoring Station at Baring Head, near Wellington... In June, Baring Head’s carbon dioxide readings officially passed 400 parts per million (ppm), a level last reached more than three million years ago. More>>

    ALSO:

    Extended Warranties: Godfreys Fined For Agreements It Sold

    New Zealand Vacuum Cleaner Company Limited (trading as Godfreys) was today fined $58,000 in the Manukau District Court after earlier pleading guilty to 10 charges relating to its extended warranty agreements. More>>

    ALSO:

    Get More From Scoop

     
     
     
     
     
     
     
     
    Business
    Search Scoop  
     
     
    Powered by Vodafone
    NZ independent news