Wall Street closed: Aus shares set for flat open

Market Reports

by Anna Napoli

Australian shares look set for a lacklustre start this morning as investors await earnings results and the minutes from the latest RBA policy meeting. US markets were closed for Washington's Birthday on Monday. Europe had a mixed session as investors continued to monitor trade talks between the US and China. Officials are due to resume negotiations this week. Brent crude oil eased on Monday, but remained on track for its strongest first quarter in eight years, thanks to OPEC led supply cuts.

Local Economic News

Today we can expect the minutes from the Reserve Bank Board meeting and the ABS is due to publish the Overseas Arrivals and Departures publication.

Reporting Season

Reporting season continues today with results expected from a number of companies including; BHP (ASX:BHP), , Blackmores (ASX:BKL) Cochlear (ASX:COH), Coles Group (ASX:COL), Oil Search (ASX:OSH), Seven West Media (ASX:SWM)


European markets closed mixed: London’s FTSE lost 0.2 per cent, Paris added0.3 per cent and Frankfurt was down 0.01 per cent.

Asian markets closed higher, Tokyo’s Nikkei closed 1.8 per cent higher,Hong Kong’s Hang Seng added 1.6 per cent and China’s Shanghai Composite gained 2.7 per cent.

Returning home , the SPI futures are up 2 points. Yesterday the Australian share market closed 24 points to 6090.

Company news

Seven Group Holdings (ASX:SVW) has announced the board appointment of Kate Farrar as an Independent Non-Executive Director. Ms Farrar is currently the CEO of LGIAsuper where she is responsible for over $12b under management. She previously held executive roles at McKinsey & Company, Ergon Energy and Suncorp.
Seven Group Holdings Executive Chairman, Kerry Stokes, says Kate brings extensive knowledge of the energy and investment sectors as well as considerable management experience.  Shares in Seven Group Holdings(ASX:SVW) closed 0.76 per cent lower to $17.08 yesterday.


Computershare (ASX:CPU) is paying 21 cents 30 per cent franked
IPH (ASX:IPH) is paying 12 cents 50 per cent franked
Magellan Financial Group (ASX:MFG) is paying 73.8 cents 75 per cent franked
Zimplats Holdings (ASX:ZIM) is paying 26.19 cents unfranked


Iron Ore futures suggest a 0.71 per cent gain
Gold has added $7.60 to US$1330 an ounce.
Silver has gained $0.04 to US$15.78 an ounce.
Oil has risen $0.47 to US$56.06 a barrel.


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