Final day of trading for 2020: ASX poised to open lower

Market Reports

by Rachael Jones

On the final trading session of 2020 the Australian share market looks set to open lower this morning despite shares rising on Wall Street. A higher stimulus cheque of $2,000 for Americans has stalled in the US as Senate majority leader Mitch McConnell blocked the bill for the extra coronavirus relief package. The UK government has introduced stricter coronavirus restrictions for millions of people as cases continue to rise. Back home New South Wales and Victoria are on high alert for New Year’s Eve gatherings as Covid cases rise.


Wall Street higher: The Dow Jones Industrial Average added 0.2 per cent to 30,410, the S&P 500 is up 0.1 per cent to 3732 and the NASDAQ closed 0.2 per cent higher at 12,870.

European markets last closed lower, London’s FTSE lost 0.7 per cent, Paris lost 0.2 per cent and Frankfurt closed 0.3 per cent lower.

Asian markets closed mixed, Tokyo’s Nikkei lost 0.5 per cent, Hong Kong’s Hang Seng added 2.2 per cent and China’s Shanghai Composite closed 1.1 per cent higher.

Taking all of this into equation, the SPI futures are pointing to a 24 point fall.

Yesterday, the Australian share market closed 0.3per cent lower or 18 points down at 6,682.

Company news

Property developer Ultima (ASX:UUL) has entered into a binding letter of intent for three lots of land in a popular ski resort area in Japan. They are looking to raise over $20 million for the acquisition and for construction of the villas. This new development is the companies first outside of Australia and into the Asia-Pacific. The real estate development project is with Infinity Capital Group Japan Development Godo Kaisha for their TELLUS Villas in Niseko. Shares in Ultima (ASX:UUL) last closed at $0.50.


MCP Income Opportunities Trust (ASX:MOT) paying 1.56 cents unfranked.
MCP Master Income Trust (ASX:MXT) paying 0.7 cents unfranked.
Partners Group Global Income Fund (ASX:PGG) paying 0.6833 cents unfranked.
Regal Investment Fund (ASX:RF1) paying 5 cents unfranked.


One Australian Dollar at 8:30 AM was buying 76.85 US cents, 56.44 Pence Sterling, 79.34 Yen and 62.52 Euro cents.


Iron Ore futures suggest 0.6 per cent rise.
Gold has added $3.40 to US$1897 an ounce.
Silver was up $0.15 to US$26.72 an ounce.
Oil is $0.14 lower at US$48.26 a barrel.

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