Mixed trading on Wall St: ASX set to open slightly lower

Market Reports

by Rachael Jones

Australian shares are set to open lower this morning, amid mixed trading on Wall Street. Global financial markets appear to have taken the latest round of US and China tariffs in their stride. In the US Goldman Sachs and JPMorgan drove the Dow Jones Industrial Average higher but grocers dropped on a reports that Amazon Inc. is considering opening as many as 3,000 cashierless stores. On the commodities front, oil has added, gold is up. The Australian dollar extended its rally, rising another 0.6 per cent.

Local economic news

ABS will release Labour Force figures for Australia for August 2018.

Markets

To the figures from around the globe: Wall Street closed mixed yesterday. The Dow Jones Industrial Average added 0.6 per cent to close at 26,406, the S&P 500 gained 0.1 per cent to 2,908 and the NASDAQ ended 0.1 per cent lower to close at 7950.

European markets closed higher yesterday: London’s FTSE closed 0.4 per cent higher, Paris added 0.6 per cent and Frankfurt gained 0.5 per cent.

Asian markets closed higher, Tokyo’s Nikkei gained 1.1 per cent,Hong Kong’s Hang Seng added 1.2 per cent and China’s Shanghai Composite rose 1.1 per cent.

On the futures markets, the ASX futures are pointing to a 3 points fall. Yesterday,the Australian share market closed higher with the S&P/ASX 200 Index gaining 29 points to close at 6190.

Company news 

OceanaGold Corporation (ASX:OGC) is pleased to announce extended high grade gold and silver mineralisation along the East Graben vein at the Company’s WKP prospect in New Zealand. These drill results add strike length, support the high-grade results reported in July 2018 and form part of a more extensive ongoing exploration drill programme. OceanaGold is a mid-tier, high-margin, multinational gold producer with assets located in the Philippines, New Zealand and the United States.

Shares in Oceanagold Corp (ASX:OGC) closed 4.45 per cent higher to $3.99 yesterday


Advanced materials company, First Graphene (ASX:FGR) has taken on Dr Andy Goodwin as its Chief Technology Officer. Dr Goodwin has been involved with the Company as Advanced Materials Advisor since October 2017. He will continue to be based in the United Kingdom to support the UK, EU and USA markets, with regular trips to Australia.
Shares in First Graphene (ASX:FGR) closed 3.23 per cent higher to 16 cents yesterday

Ex-Dividends:

Automotive Holdings (ASX:AHG) is paying 6.8c fully franked
Cellnet Group (ASX:CLT) is paying 1.25c unfranked
Crown Resorts (ASX:CWN) is paying 30c 60 per cent franked
Environmental Group (ASX:EGL) is paying 0.06c fully franked
Keybridge Capital (ASX:KBC) is paying 0.5c fully franked
Pengana Int Equ (ASX:PIA) is paying 3.5c fully franked
Pinnacle Investment (ASX:PNI) is paying 7c fully franked
Peet (ASX:PPC) is paying 3c fully franked
QMS Media (ASX:QMS) is paying 1.2c fully franked
Sealink Travel Grp (ASX:SLK) is paying 8c fully franked
Spark New Zealand (ASX:SPK) is paying 10.96c unfranked
Xenith Ip Group (ASX:XIP) is paying 4.5c fully franked

Currencies

Turning to currencies One Australian Dollar at 7:40AM was buying US72.63 cents, 55.28 Pence Sterling, 81.56 Yen and 62.22 Euro cents.

Commodities

Iron ore futures are pointing to 0.9 per cent fall.
Gold added $5.80 to $US1209 an ounce.
Silver was up 9 c at $US14.28 an ounce.
Oil added $1.43 to $US71.02 a barrel.

Cryptocurrencies

The three most traded cryptocurrencies are trading higher: Bitcoin has added 1.4per cent to US$6441, Ethereum has gained 0.9 per cent to US$211 and EOS has risen 3.6 per cent to US$5.27.