All eyes on Trump: Futures point to lower open

Market Reports

by Jessica Ellerm

Following mixed leads and negative futures, the Australian share market looks set to dip at the start of the trading week. On Friday the Dow Jones rocketed to an all time high, while the S&P 500 eased, with energy leading the decline. In what was a stellar rebound week for US markets last week, following Tuesday’s election, there is no doubt investors will be continuing to monitor Trump’s every move in the coming days, as they look to confirm continued market momentum is justified.

And in news closer to home, local investors will be keeping an eye today on any ASX listed stocks with exposure to New Zealand’s latest earthquakes, which hit the country just after midnight, local time and caused widespread damage.

US economic news

Consumer sentiment rose in November to 91.6, up from 87.2 in October. It is the highest reading since June.

Markets

Wall Street closed mixed on Friday: The Dow Jones Industrial Average gained 0.2 per cent to close at 18,848, the S&P 500 fell 0.14 per cent to close at 2,164 and the NASDAQ rose 0.5 per cent to close at 5,237.

European markets closed mixed: London’s FTSE fell 1.4 per cent, Paris dropped 0.9 per cent and Frankfurt rose 0.4 per cent.

Asian markets closed mixed: Tokyo’s Nikkei added 0.18 per cent, Hong Kong’s Hang Seng fell 1.35 per cent, and China’s Shanghai Composite gained 0.78 per cent.

The Australian share market closed higher on Friday: The S&P/ASX 200 Index closed 42 points up to finish at 5,371. On the futures market the SPI is 15 points down.

Currencies

The Australian Dollar at 8:15AM was buying $US75.44 cents, 59.97 Pence Sterling, 80.65 Yen and 69.65 Euro cents.

Company news

Capitol Health Limited (ASX:CAJ) has announced it has appointed Andrew Harrison as its new Managing Director. Mr Harrison has held senior executive roles with Brambles Australia and was formerly Managing Director and a Non-Executive Director of ASX listed Neptune Marine Services. Shares in Capitol Health Limited closed 4.17 percent down on Friday at $0.115.

WPG Resources Limited (ASX:WPG) has announced its Board of Directors have made a decision to mine at Tarcoola. Tarcoola is South Australia’s newest mine and will see WPG transform into a mid-tier gold producer. The decision to commence mining follows approval by the state government of the company’s environmental and rehabilitation program. Shares in WPG Resources Limited closed 7.14 percent down on Friday at $0.078.

Ex-Dividends

2 companies are going ex-dividend today: ANZ Banking Group (ASX:ANZ) will pay 80 cents fully franked and Westpac Banking Corporation (ASX:WBC) will pay 94 cents fully franked.

Commodities

Gold has fallen $31.20 to $US1,227 an ounce for the December contract on Comex.
Silver has dropped $0.02 to $17.36 for December.
Copper has fallen $0.11 to $2.51 a pound for December.
Oil has dropped $1.19 to $US43.19 a barrel for December light crude in New York. 

Jessica Ellerm

Finance News Network
Jessica joined FNN in April 2016 and presents the Australian Share Market Outlook, and reports on the morning's leading business stories. Alongside FNN Jessica is a fintech industry commentator, writing for her own blog and a number of international online publications.