Wall St closed: Aus shares set to open higher

Market Reports

by Rachael Jones

It was a quiet session overnight with a public holiday for the US. Trading will resume tomorrow. Australian shares are set to move higher this morning. The euro erased losses and closed mixed on the chance of an earlier rate increase by the European Central Bank. The London-listed shares of BHP (ASX:BHP) shed 2.4 per cent, with Rio Tinto (ASX:RIO) sliding 2.3 per cent. All eyes are waiting for tomorrow when the US is set to impose tariffs on $34 billion of Chinese goods. China says it will match the dollar-value hit on US goods including agricultural and auto exports. Gold, silver and oil are all up. Iron ore Prices have dropped half a percent to $64.20 as iron ore futures are pointing to a 1.6 per cent fall

Markets

European markets closed mixed yesterday: London’s FTSE is 0.27 lower per cent at 7573, Paris rose 0.07 per cent at 5321 and Frankfurt 0.26 per cent is lower to 12318.

Asian markets closed lower yesterday: Tokyo’s Nikkei closed 0.3 per cent lower at 21717, Hong Kong’s Hang Seng dropped 1.06 per cent at 28242, and China’s Shanghai Composite lost 1 per cent at 2759.

Taking all of this into equation, the ASX futures are pointing to a 12 pts gain. Yesterday, the Australian share market closed lower with the S&P/ASX 200 Index losing 27 points or 0.43 per cent lower to close at 6183.

Company news

Advisian, the global consulting firm of WorleyParsons, (ASX:WOR) has been appointed the owners’ engineer to Noor Energy 1 for a solar power installation in Dubai. Noor Energy 1 is a consortium of ACWA Power and Dubai Electricity and Water Authority. Advisian will support the project engineering and technical support as required during construction and commissioning. The contract is for four years and the project aims to provide solar electricity at a competitive cost in Dubai. Shares in WorleyParsons (ASX:WOR) closed 0.11 per cent lower to $17.88 yesterday.

Ex dividends

Clime Capital (ASX:CAM) 1.5 cents fully franked 
Kelly Partners Group (ASX:KPG) 1 cent fully franked

Currencies

One Australian Dollar at 7:40AM was buying US73.85 cents, 55.82 Pence Sterling, 81.6 Yen and 63.34 Euro cents.

Commodities

Iron ore futures are pointing to a 1.6 per cent fall
Gold has gained $4.60 to $US1258 an ounce.
Silver has added 8c to $US16.12 an ounce.
Oil was up 19c to $US74.33 a barrel.

Cryptocurrencies

The three most traded cryptocurrencies are trading higher:
Bitcoin has gained 1.92 per cent to US$6708,
Ethereum has gained 1.27 per cent to US$474,
EOS has risen 1.37 per cent to US$9.05.
 

Rachael Jones

Finance News Network
Rachael comes to FNN after working for Fairfax Media covering international breaking news, including the global economy and politics. She joined FNN in February 2018. She has reported on Australia’s finance news for various organisations since 2000 and has also interviewed a number of key business players, including Bill Gates. Rachael has also worked across a number of countries, including the UK and the US.