Markets open to a shortened week: ASX poised to open higher

Market Reports

by Rachael Jones

Australian shares are set to open higher, last week US stocks ran a volatile market with the worst pre-Christmas day on record. Stocks did see the biggest one-day surge in almost a decade though. Australian stocks still feel the heat of the ongoing trade war that US President Trump initiated with China. In an earlier tweet Trump says the deal is moving along very well. It's a shortened session today with the markets closing at 2:10pm Australian Eastern Daylight time. Most global markets will be closed on tomorrow for the New Year holiday with Japanese markets closed until Thursday.


Wall Street closed mixed on Friday: The Dow Jones Industrial Average dropped 0.3 per cent to close at 23,066, the S&P 500 is 0.1 per cent lower to close at 2,486 and the NASDAQ gained 0.1 per cent to close at 6585.

European markets closed HIgher: London’s FTSE rose 2.3 per cent, Paris is 1.7 per cent higher and Frankfurt is also 1.7 per cent higher

Asian markets closed mixed: Tokyo’s Nikkei lost 0.3 per cent, Hong Kong’s Hang Seng gained 0.1 per cent, and China’s Shanghai Composite gained 0.4 per cent.

The ASX futures pointing to a 22 point rise. On Friday the Australian share market closed 1 per cent higher or 57 points higher 5,654.

Company news

The Australian Government Takeover Panel has received applications from shareholders in investment companies Benjamin Hornigold (ASX:BHD) and Henry Morgan (ASX:HML) in relation to the affairs of each company. A sitting Panel has not been appointed at this stage and no decision has been made whether to conduct proceedings or to hear the applications together. They are subject to separate off market takeover bids by John Bridgeman. Shares in Henry Morgan (ASX:HML) last traded at $1.99


MCP Master Income Trust (ASX:MXT) paying 0.89 cents unfranked.


One Australian Dollar at 7:30am was buying 70.58 US cents, 55.58 Pence Sterling, 77.87 Yen and 61.67 Euro cents.


Iron Ore futures suggest a rise of 0.6 per cent
Gold has gained $1.90 to US$1283 an ounce.
Silver has gained $0.13 to US$15.44 an ounce.
Oil has gained $0.72 to US$45.33 a barrel.

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