Disney lifts Dow while markets were mixed: Aus shares to open lower

Market Reports

by Kathy Skantzos

After a record day on the ASX yesterday, following weak leads from US markets overnight, the Australian share market looks set to open lower this morning.

The Dow posted a record close and the S&P 500 broke even, while the Nasdaq closed lower. Disney’s stocks soared 1 per cent higher, the best performing stock on the Dow after announcing intention to purchase 21st Century Fox. The media sector rose, but the general market was mixed.

On the commodities front, safe havens oil and gold have both dropped and iron ore has fallen more than a per cent.

Figures

Wall Street closed mixed yesterday: The Dow Jones Industrial Average gained 0.04 per cent to close at 23,557, the S&P 500 lost 0.02 per cent to close at 2,591 while the NASDAQ lost 0.3 per cent to close at 6,768.

European markets closed lower: London’s FTSE lost 0.7 per cent, Paris lost half a per cent and Frankfurt dropped 0.7 per cent.

Asian markets closed higher: Tokyo’s Nikkei added 1.7 per cent, Hong Kong’s Hang Seng up 1.4 per cent, and China’s Shanghai Composite gained 0.8 per cent.

And back home, the Australian share market closed higher yesterday: The S&P/ASX 200 Index closed 61 points up to finish at 6,014.

On the futures market the SPI is 26 points down.

Company news

Fisher & Paykel Healthcare (ASX:FPH) has reported a 22% reduction in carbon emissions over the last five years with a reduction target of 5% per annum in its corporate responsibility and sustainability report published this morning. The company said it has undertaken several environmental initiatives over the year, including recycling 96% of its waste. For the financial year from April 2016 to March 2017, the company has achieved gross dividends distributed to shareholders of NZ$153 million, with total dividends for the year up 17 per cent to 19.5 cents per share. Profit after tax was 18 per cent higher to NZ$169.2 million during FY2017. Shares in Fisher & Paykel Healthcare (ASX:FPH) closed 2.8 per cent higher at $12.10.

Westpac (ASX:WBC) is issuing self-funding installments (SFIs) of National Australia Bank (ASX:NAB) securities paid out as a final dividend of $0.99 per security fully franked. The bank is also paying out Vanilla Installment Equity Warrants, or VIEWs, to NAB. The distribution of shares will take place tomorrow, 9 November and will be paid out in mid-December. Shares in Westpac (ASX:WBC) closed 0.3 per cent higher at $32.64.

Ex-dividends

3 companies are going ex-dividend today:
Brickworks Limited (ASX:BKW) is paying 34 cents a share fully franked, Kelly Partners Group (ASX:KPG) is paying 1 cent per share fully franked and ResMed (ASX:RMD) is paying 3.21 cents per share unfranked.

Currencies

One Australian Dollar at 8:50AM was buying 76.44 US cents, 58.12 Pence Sterling, 87.14 Yen and 65.98 Euro cents.

Commodities

Gold has lost $5 to $US1,277 an ounce.
Silver has lost $0.27 to $US16.96 an ounce.
Oil has lost $0.13 to $US57.22 a barrel.