Midterm results end investor uncertainty: ASX set to open higher

Market Reports

by Rachael Jones

Australian shares are set to open higher after Wall Street saw a rally after the US midterm elections. All three major benchmarks rose in afternoon trade. Tech stocks rallied and the US listed shares of Atlassian surged 8 per cent. The US listed shares of both BHP (ASX:BHP) and Rio (ASX:RIO) also saw a rise. Democrats won control of the House of Representatives and Republicans held the Senate. US equities jumped as the uncertainty ended. The Australian dollar moved towards US73 cents.

Markets 

Wall Street closed higher yesterday. The Dow Jones Industrial Average added 2.1 per cent to close at 26,180, the S&P 500 gained 2.1 per cent to 2,814 and the NASDAQ climbed 2.6 per cent higher at 7571.

European markets closed higher yesterday: London’s FTSE added 1.1 per cent, Paris rose 1.2 per cent and Frankfurt closed 0.8 per cent higher.

Asian markets closed mixed, Tokyo’s Nikkei fell 0.3 per cent, Hong Kong’s Hang Seng gained 0.1 per cent and China’s Shanghai Composite was down 0.7 per cent.

On the futures markets, the ASX futures are pointing to a 42 points gain.Yesterday,the Australian share market closed higher with the S&P/ASX 200 Index closing 22 points higher to 5897.

Company news

Syrah Resources (ASX:SYR) has completed the repair of its primary classifier unit at the Balama Graphite Operation. A replacement has been successfully installed and commissioned ahead of schedule. Production has resumed with stable ramp up achieved. During the repair period, Syrah operated a by-pass and brought forward planned maintenance and production to reduce subsequent planned downtime. Those works were completed as planned. Shares in Syrah Holdings (ASX:SYR) closed 8.71 per cent higher to $1.94 yesterday

Ex-Dividends

Australian Pharmaceutical Industries (ASX:API) is paying 4 cents fully franked.
National Australia Bank (ASX:NAB) is paying 99 cents fully franked. 
Waterco (ASX:WAT) is paying 3 cents fully franked. 

Currencies

One Australian Dollar at 7:40AM was buying US72.76 cents, 55.42 Pence Sterling, 82.65 Yen and 63.66 Euro cents.

Commodities

Iron ore futures are pointing to 0.6 per cent gain
Gold added $0.90 to $US1227 an ounce.
Silver was up 6 centsd at $US14.56an ounce.
Oil dropped $0.58 to $US61.63 a barrel.

Cryptocurrencies

The three most traded cryptocurrencies are trading higher: Bitcoin has added 1.2 per cent to US$6523, Ethereum has gained 0.5 per cent to US$217 and Bitcoin Cash was up 0.6 per cent to US$613