Wall Street rallies, tariffs not as bad as expected: Aus shares to open higher

Market Reports

by Anna Napoli

Following positive leads from US markets, the Australian share market looks set to open higher. Stocks surged on Tuesday recouping Monday's losses, as the US and China announced tit for tat tariffs that weren’t as bad as investors had feared. The Dow Jones popped 189 points as Nike and Boeing outperformed. While the tech heavy Nasdaq gained 0.8 per cent with Netflix, Amazon, Apple and Alphabet all closing higher.

On the commodities front, oil is up slightly on signs that OPEC will not raise output to address sanctions on Iran, and, gold prices have fallen as the US dollar steadied on Tuesday.


Wall Street closed higher yesterday. The Dow Jones Industrial Average added 0.7 per cent to close at 26,247, the S&P 500 gained 0.5 per cent to 2,904 and the NASDAQ ended 0.8 per cent higher to close at 7956.

European markets closed mixed yesterday: London’s FTSE closed 0.03 per cent lower, Paris added 0.3 per cent and Frankfurt gained 0.5 per cent.

Asian markets closed higher, Tokyo’s Nikkei gained 1.4 per cent,Hong Kong’s Hang Seng added 0.6 per cent and China’s Shanghai Composite rose 1.8 per cent.

On the futures markets, the ASX futures are pointing to a 28 points gain. Yesterday,the Australian share market closed lower with the S&P/ASX 200 Index losing 24 points to close at 6161.

Company news

Bega Cheese (ASX:BGA) has launched its share purchase plan. The plan gives eligible shareholders the opportunity to purchase up to $15 000 of new fully paid ordinary shares at a discounted price. The dairy company hopes to raise $50 million to reduce debt following the acquisition of the Koroit dairy plant. Shares in Bega Cheese (ASX:BGA) closed 2.12 per cent lower to $6.93 yesterday


Apiam Animal Health (ASX:AHX) is paying 0.8 cents fully franked
Axsesstoday (ASX:AXL) is paying 2.9 cents fully franked
Clime Investment (ASX:CIW) is paying 1.5 cents fully franked
Homeloans (ASX:HOM) is paying 0.9c fully franked
Johns Lyng Group (ASX:JLG) is paying 1.9 cents fully franked
Konekt (ASX:KKT) is paying 1 cents fully franked
Pacific Smiles Grp (ASX:PSQ) is paying 3.8 cents fully franked
Webjet (ASX:WEB) is paying 12 cents fully franked


One Australian Dollar at 7:35AM was buying US72.21 cents, 54.93 Pence Sterling, 81.14 Yen and 61.90 Euro cents.


Iron ore futures are pointing to 1.3 per cent gain.
Gold lost $2.90 to$US1203 an ounce.
Silver was down 4 cents at $US14.18an ounce.
Oil added77 cents to $US69.45 a barrel.


The three most traded cryptocurrencies are trading higher: Bitcoin has added 1.1 per cent to US$6346, Ethereum has gained 5.8 per cent to US $209 and EOS has risen 5.1 per cent to US$5.08.