Wall Street pares losses, RBA meeting ahead: Aus shares to open higher

Market Reports

by Anna Napoli

Australian shares are set to open higher this morning despite a mixed session on Wall Street yesterday. The Dow Jones recovered from early losses to close 36 points higher with the financial and tech sectors leading the gains. Microsoft was up 1.4 per cent, while Facebook, Amazon and Netflix lead the tech heavy Nasdaq higher. Meantime, Nike shares lost over a per cent after news Roger Federer has left the company for a new ambassador role with Uniqlo. To commodities, there’s been a pull back in iron ore and base metals. The gold price has dropped lower and the Aussie dollar has continued its slide.

Local Economic news

The Reserve Bank Board meets today and will hand down a decision on monetary police. No change in interest rates is expected making it the 23rd month of unchanged rates in a row. Building approvals for May are also released today.

Markets

Wall Street closed higher yesterday. The Dow Jones Industrial Average added 0.2 per cent to close at 24,307, the S&P 500 gained 0.3 per cent to close at 2,727 and the NASDAQ was up 0.8 per cent to close at 7568.

European markets closed lower yesterday: London’s FTSE lost 1.2 per cent, Paris fell 0.9 per cent and Frankfurt declined 0.6 per cent.

Asian markets closed lower yesterday, Tokyo’s Nikkei lost 2.2%, Hong Kong’s Hang Seng was closed and China’s Shanghai Composite was down 2.5%.

On the futures markets, the ASX futures are pointing to a 21 pts gain. Yesterday, the Australian share market closed lower with the S&P/ASX 200 Index losing 17 points to close at 6178.

Company news 

Medical imaging company Integral Diagnostics (ASX:IDX) has announced the completion of a number of acquisitions. The company, which provides state of the art diagnostic services, now includes the Specialist Radiology Group, Cavendish Radiology and Trinity MRI in Auckland. Back home the company has also acquired Geelong Medical Imaging in Victoria. The company says has welcomed its new radiologists, staff and shareholders and looks forward to the continued growth of the business. Shares in Integral Diagnostics (ASX:IDX) closed 2.65 per cent higher to $3.10 yesterday.

Ex Dividends

One company is going ex dividend today:
HGL Limited (ASX: HNG) is paying 1.5 cents fully franked.

Currencies

One Australian Dollar at 7:40AM was buying US73.38 cents, 55.87 Pence Sterling, 81.38 Yen and 63.09 Euro cents.

Commodities

Iron ore futures are pointing to 0.1 per cent loss.
Gold has dropped $11.70 to $US1243 an ounce.
Silver has fallen 32c to $US15.88 an ounce.
Oil was down 9c to $US74.06 a barrel.

Cryptocurrencies

The three most traded cryptocurrencies are trading higher: Bitcoin has added 3.7 per cent to US$6,616, Ethereum has gained 4.5 per cent to US$474 and EOS has risen 10.2 per cent to US$8.94.