The Australian share market is set for another lower open today. Most major equity markets overseas and providing weak leads.
It’s earnings season on Wall Street, and major companies like Goldman Sachs and Johnson & Johnson posted first-quarter results which missed estimates. In the US, energy and healthcare stocks suffered the most losses.
Investors around the world remain anxious amid tensions between the US and North Korea.
European markets were the worst performers as the French presidential election approaches, and British Prime Minister Theresa May called a snap election in June. Mrs May’s announcement caused the Pound to fall briefly, but now it has strengthened 2.5% against the Aussie Dollar.
US economic newsAccording to the Commerce Department, homebuilding in America fell 6.8% last month to a seasonally adjust annual rate of 1.22 million units – which was more than the 3.9% fall which was predicted.
The Federal Reserve reported that industrial production lifted 0.5% last month, in line with expectations.
Australian economic newsThe Australian Bureau of Statistics will release March figures for new motor vehicle sales, which will provide some insight on consumer confidence.
MarketsWall Street finished lower this morning: The Dow Jones was down 0.6% to 20,523, the S&P 500 lost 0.3% to 2,342, and the NASDAQ dropped 0.1% to 5,849 points.
European markets were smashed overnight: London’s FTSE plummeted 2.5%, Paris fell 1.6% and Frankfurt dropped 0.9%.
Asian markets finished mostly lower yesterday: the Nikkei rose 0.4%, the Hang Seng fell 1.4% and the Shanghai Composite was down 0.8%.
Australia’s ASX 200 fell 53 points (or 0.9%) to close at 5,837.
This morning on the futures market, the SPI is down 38 points.
Company newsThe head of Origin Energy’s
(ASX:ORG) Integrated Gas division, David Baldwin, has stepped down from the role. He’ll be replaced by Mark Shubert, who is currently the General Manager of Origin’s Commercial division. Yesterday, Origin Energy shares closed 1.6% lower at $7.40.
Charter Hall Group
(ASX:CHC) has appointed a new Chief Financial Officer, Russell Proutt. He will join the company in August 2017. Yesterday, Charter Hall shares closed 0.35% higher at $5.79.
Ex-dividendsWashington H. Soul Pattinson
(ASX:SOL) will pay 22 cents, fully franked.
CurrenciesAt 7.30am, the Australian Dollar was buying $US75.59 cents.
The Aussie dollar fell 2.5% to 58.87 Pence Sterling.
The Aussie Dollar has also weakened to 82 Yen and 70.47 Euro cents.
Commodities Gold has dropped 40 cents to $US1,292 an ounce.
Silver is down 23 cents at US$18.28 an ounce.
Oil is down 41 cents to $US52.76 a barrel.
