US stocks rise on trade hopes: ASX poised to open higher

Market Reports

by Rachael Jones

Australian shares are set to open higher amid optimism that China and the US are seeking to resolve their trade spat.
Wall Street had a rollercoaster of a day - the Dow fluctuated during afternoon traded. US stocks rose for the first time in six days, with technology shares leading the rebound on speculation trade tensions will ease. Oil and Treasuries rose.

Markets

Wall Street closed higher yesterday. The Dow Jones Industrial Average added 0.8 per cent to close at 25,289, the S&P 500 closed 1.1 per cent higher to 2,730 and the NASDAQ gained 1.7 per cent to 7259.

European markets closed mixed yesterday: London’s FTSE added 0.1 per cent, Paris dropped 0.7 per cent lower and Frankfurt was down 0.5 per cent.

Asian markets closed mixed, Tokyo’s Nikkei fell 0.2 per cent, Hong Kong’s Hang Seng added 1.8 per cent and China’s Shanghai Composite was up 1.4 per cent.

On the futures markets, the ASX futures are pointing to a 14 points gain. Yesterday, the Australian share market closed flat with the S&P/ASX 200 Index closing 3 points higher to 5736.

Company news

Regenerative medicine company Mesoblast (ASX:MSB) today announced their financial results for the first quarter ending September 30, 2018 showing revenues rose to US$11.6 million in the first quarter FY2019, compared with US$1.2 million in the first quarter FY2018. Loss after tax increased by $12.5 million compared to the first quarter FY2018. Revenues primarily consisted of US$1.5 million in royalties and milestones from sales of TEMCELL by their licensee in Japan, JCR Pharmaceuticals. Royalties from TEMCELL increased by 66 per cent for first quarter FY2019 compared with the first quarter FY2018. Also they saw US$10 million milestone revenue in relation to establishing a strategic cardiovascular partnership with Tasly in China. Shares in Mesoblast (ASX:MSB) closed 0.35 per cent higher to $1.42 yesterday.

Ex-Dividends

Dicker Data (ASX:DDR) is paying 4.4 cents fully franked
Kathmandu Holdings (ASX:KMD) is paying 10.0738c fully franked
Washington H. Soul Pattinson and Co. (ASX:SOL) is paying 33 cents fully franked
Tamawood (ASX:TWD) is paying 16 cents fully franked
WAM Capital (ASX:WAM) is paying 7.75 cents fully franked

Currencies 

One Australian Dollar at 8:40AM was buying US72.76 cents, 56.96 Pence Sterling, 82.67Yen and 64.25 Euro cents.

Commodities

Iron ore futures are pointing to 2.4 per cent gain
Gold gained $3.30 to $US1213 an ounce.
Silver was up 19 cents at $US14.27 an ounce.
Oil added 31 cents to $US56.75 a barrel.

Cryptocurrencies

Bitcoin has dropped 1.8 per cent to US$5541, Ethereum has fallen 0.5 per cent to US$178 and EOS added 0.3 per cent to US$4.59.