Global uncertainty causes caution: ASX set to open higher

Market Reports

by Rachael Jones

Australian shares are set to open slightly higher this morning as stocks gained on Wall Street. Understandably investors are currently cautious due to uncertainty around the globe – such as the Brexit crisis in the UK, the US government shut down and the ongoing China US trade deal tensions. The Aussie dollar slipped. West Texas crude rose above $52 a barrel.

Economic News

The Australian Bureau of Statistics are set to release the Housing Finance figures for November.

Markets

Wall Street closed up yesterday: The Dow Jones Industrial Average gained 0.6 per cent to close at 24,207, the S&P 500 added 0.2 per cent to close at 2,616 and the NASDAQ gained 0.2 per cent to close at 7035.

European markets closed mixed: London’s FTSE lost 0.5 per cent, Paris gained 0.5 per cent and Frankfurt gained 0.4 per cent.

Asian markets closed mixed: Tokyo’s Nikkei lost 0.6 per cent, Hong Kong’s Hang Seng gained 0.3 per cent, and China’s Shanghai Composite is flat.

The ASX futures are pointing to a 9 point gain. Yesterday the Australian share market closed 0.4 per cent higher or 21 points higher 5,835

Company news

South32 (ASX:S32) has made changes to their leadership team with Katie Tovich succeeding Brendan Harris as Chief Financial Officer from May this year. To ensure a smooth transition, Katie will immediately assume the role of Deputy Chief Financial Officer. Brendan will take over from Peter Finnimore as Chief Marketing Officer (CMO) assuming responsibility for South32’s commodity marketing and supply functions. Shares in South32 (ASX:S32) closed 2.1 per cent lower at $3.33 yesterday.

Ex Dividend

CYBG (ASX:CYB) paying 5.48 cents unfranked

Currencies

One Australian Dollar at 8:30AM was buying 71.73 US cents, 55.72 Pence Sterling, 78.3 Yen and 62.97 Euro cents.

Commodities

Iron Ore has added 0.7 per cent to at US$74.31 Its futures are flat
Gold has gained $4.90 to US$1293 an ounce.
Silver is flat at US$15.62 an ounce.
Oil has gained $0.39 to US$52.62 a barrel.
 

Rachael Jones

Finance News Network
Rachael comes to FNN after working for Fairfax Media covering international breaking news, including the global economy and politics. She joined FNN in February 2018. She has reported on Australia’s finance news for various organisations since 2000 and has also interviewed a number of key business players, including Bill Gates. Rachael has also worked across a number of countries, including the UK and the US.