China and US Trade deal stalls: Aus shares to open lower

Market Reports

by Katrina Bullock

The Australian share market is set to open lower following on from Wall Street's negative close. This follows fears that the Trump administration will not reach a trade deal with China before the 1st March deadline when the trade war is set to escalate.

Economic News

Statement on monetary policy.


Wall Street closed lower yesterday: The Dow Jones Industrial Average fell 0.9 per cent to close at 25,170, the S&P 500 lost 0.9 per cent to close at 2,706 and the NASDAQ was down 1.2 per cent to close at 7288.

European markets closed lower: London’s FTSE fell 1.1 per cent, Paris lost 1.8 per cent and Frankfurt dipped 2.7 per cent.

Asian markets, Tokyo’s Nikkei was down 0.6 per cent, while Hong Kong’s Hang Seng and China’s Shanghai Composite were closed.

Taking all of this into equation, the ASX futures are down 41 points. Yesterday the Australian share market closed 1.1 per cent higher or 66 points to 6092.

Company News

News corp (ASX:NWS) reported a 21 per cent rise in their revenues for the second quarter to $2.6 billion. The rise was attributed to the consolidation of Foxtel and the ongoing strength in the Book Publishing and Digital Real Estate Services segments. Meantime, its total earnings (EBITDA) also gained over the period, rising to $370 million compared to the same corresponding period last year where we only saw $328 million. Shares in News Corp (ASX:NWS) closed 0.66 per cent higher at $18.32 yesterday. 


Australian Foundation Investment Co (ASX:AFI) is paying 18 cents fully franked
Amyf Four (ASX:AYK) is paying 24 cents fully franked
Amyf Five (ASX:AYZ) is paying 57 cents fully franked
BKI Investment (ASX:BKI) is paying 5.125 cents fully franked
Oceania Healthc (ASX:OCA) is paying 1.7 cents unfranked


One Australian Dollar at 8:55AM was buying 71.04 US cents, 54.86 Pence Sterling, 78.02 Yen and 62.67 Euro cents.


Gold has fallen $0.70 to US$1314 an ounce. 
Silver has added $0.03 to US$15.73 an ounce. 
Oil has dropped $1.44 o US$52.57 a barrel.