Wall St and Europe gain overnight: ASX set to open higher

Market Reports

by Rachael Jones

Australian shares are set to rise at the open, after positive leads from US markets overnight. Bonds dropped after the minutes from the latest meeting of Federal policymakers showed that they discussed cutting interest rates more aggressively. The US central bank cut rates by 25 basis points at its July 30-31 meeting. The minutes reiterated the wording of Chairman Jerome Russell when he indicated the move as a “mid-cycle adjustment”. Europe also gained over night. On the commodities front, gold and oil have dropped.


Wall Street closed higher yesterday: The Dow Jones Industrial Average added 0.9 per cent to close at 26,203, the S&P 500 closed 0.8 per cent higher at 2924 and the NASDAQ gained 0.9 per cent to 8020.

European markets closed higher: London’s FTSE gained 1.1 per cent, Paris added 1.7 per cent and Frankfurt was up 1.3 per cent.

Asian markets closed mixed: Tokyo’s Nikkei fell 0.3 per cent, Hong Kong’s Hang Seng was up 0.2 per cent and China’s Shanghai Composite closed almost flat.

Taking all of this into equation, the SPI futures are pointing to a 0.4 per cent gain.

Yesterday, the Australian share market closed 62 points or 0.9 per cent lower at 6483.

Company news 

Yancoal Australia (ASX:YAL) released their half year results yesterday showing profit before tax of $492 million for the half-year ended 30 June 2019, a $47 million decrease from $539 million in the corresponding period. Total operating EBITDA of $940 million, a $40 million decrease from $980 million in 1H18. Revenue from continuing operations was $2,350 million, that's consistent with $2,347 million in 1H18. Shares in Yancoal Australia (ASX:YAL) closed 0.3 per cent lower at $3.37 yesterday.

Reporting Season

- Alumina (ASX:AWC)
- Bingo Industries (ASX:BIN)
- Coca-Cola Amatil (ASX:CCL)
- Coles Group (ASX:COL)
- Downer EDI (ASX:DOW)
- Flight Centre Travel Group (ASX:FLT)
- Grow thpoint Properties Australia (ASX:GOZ)
- Medibank Private Ltd (ASX:MPL)
- Origin Energy (ASX:ORG)
- Perpetual (ASX:PPT)
- Qantas Airways (ASX:QAN)
- Qube Holdings (ASX:QUB)
- Santos (ASX:STO)
- Scentre Group (ASX:SCG)
- South32 (ASX:S32)
- Southern Cross Media Group (ASX:SXL)
- Vocus Group (ASX:VOC)
- Webjet (ASX:WEB)
- Zip Co (ASX:Z1P)

Ex – Dividend

Domain Holdings Aus (ASX:DHG) is paying 4 cents fully franked
Heartland Group (ASX:HGH) is paying 6.1442 cents unfranked
JB Hi-Fi Limited (ASX:JBH) is paying 51 cents fully franked
Korvest Ltd (ASX:KOV) is paying 13 cents fully franked
Newcrest Mining (ASX:NCM) is paying 21.377 cents fully franked
QBE Insurance Group (ASX:QBE) is paying 25 cents 60 per cent franked


One Australian Dollar at 7:40AM was buying 67.83US cents, 55.94Pence Sterling, 72.30 Yen and 61.18 Euro cents.


Iron Ore futures are flat
Gold has dropped $3.10 to US$1513 an ounce.
Silver was down $0.06 cents to US$17.23 an ounce.
Oil has dropped $0.28 to US$55.85 a barrel.

Are you a 708 sophisticated investor?

A sophisticated investor is defined under Section 708 of the Corporations Act (net assets of $2.5 million or annual incomes in excess of $250,000).

They are eligible to receive information regarding wholesale investment opportunities that are not available to regular or retail investors.

Please subscribe if you would like to be alerted to these types of opportunities.