Aus shares to defy Wall Street leads and open higher

Market Reports

by Anna Napoli

Australian shares look set to open higher defying weak leads from Wall Street. Stocks fell in choppy trading on Tuesday as investors reviewed lower-than-expected Home Depot earnings, mixed economic data and testimony from the Federal Reserve. Home Depot’s results were followed by weaker-than-expected housing starts data. The figures released by the Commerce Department showed housing starts fell 11.2 percent in December and reached their lowest level since September 2016.


Wall Street closed lower yesterday: The Dow Jones Industrial Average fell 0.1 per cent to close at 26,058, the S&P 500 shed 0.1 per cent to close at 2,794 and the NASDAQ was down 0.1 per cent to close at 7549.

European markets closed mixed: London’s FTSE fell 0.5 per cent, Paris gained 0.1 per cent and Frankfurt closed 0.3 per cent higher.

Asian markets closed weaker, Tokyo’s Nikkei closed 0.4 per cent lower,Hong Kong’s Hang Seng fell 0.7 per cent and China’s Shanghai Composite also dropped 0.7 per cent.

Taking all of this into equation, the SPI futures are up 14 points. Yesterday the Australian share market closed 0.9 per cent lower or 58 points at 6128.

Local economic news

Australian Bureau of Statistics (ABS) releases the Construction work data for the fourth quarter

Companies reporting

Bellamy's Australia (ASX:BAL)
Costa Group Holdings (ASX:CGC)
Donaco International (ASX:DNA)
OZ Minerals (ASX:OZL)
Rio Tinto (ASX:RIO)
Vocus Group (ASX:VOC)

Company news

NextDC (ASX:NXT) has announced results for the half year for financial year 19 flagging a statutory net loss of $3.1 million compared to $8.4 million profit for the same time last year. Revenue rose 17 per cent to $90.8 million. Earnings increased 26 per cent to $42.2 million. The company says the results are in line with plan The first half was a record period for new investments in both the development of our next generation of world-class Tier IV data centres and our innovative connectivity service offerings.” Shares in NextDC (ASX:NXT) closed 1.67 per cent lower at $7.08 yesterday.


One Australian Dollar at 8:40 AM was buying 71.88 US cents, 54.24 Pence Sterling, 79.48 Yen and 63.11 Euro cents.


Iron Ore has dropped 1.3 per cent to at US$83.75. It futures suggest a 1.01 per cent gain.
Gold has added$1.40 to US$1331 an ounce.
Silver has gained $0.04 to US$15.97 an ounce.
Oil has increased $0.15 to US$55.63 a barrel.

AMP Limited (ASX:AMP) is paying 4 cents 90 per cent franked
APN Property Group Ltd (ASX:APD) is paying 1.25 cents fully franked
Bapcor Ltd (ASX:BAP) is paying 7.5 cents fully franked
Beach Energy Limited (ASX:BPT) is paying 1 cents fully franked
Enero Group Ltd (ASX:EGG) is paying 2.5 cents fully franked
Fiducian Group Ltd (ASX:FID) is paying 11 cents fully franked
Gryphon Capital Income Trust (ASX:GCI) is paying 0.8 cents unfranked
Helloworld Travel Ltd (ASX:HLO) is paying 8 cents fully franked
IRESS Limited (ASX:IRE) is paying 30 cents 40 per cent franked
Integrated Research Limited (ASX:IRI) is paying 3.5 cents fully franked
Lantern Hotel Group (ASX:LTN) is paying 0.07 cents unfranked
Mainstream Group Holdings (ASX:MAI) is paying 0.75 cents fully franked
Moelis Australia Ltd (ASX:MOE) is paying 8 cents fully franked
Orora Limited (ASX:ORA) is paying 6.5 cents 50 per cent franked
Platinum Capital Ltd (ASX:PMC) is paying 6 cents fully franked
People Infrastructure Ltd (ASX:PPE) is paying 4 cents fully franked
QANTM Intellectual Property (ASX:QIP) is paying 3.5 cents fully franked
Qualitas Real Estate Income Fund (ASX:QRI) is paying 0.2464c unfranked
Salmat Limited (ASX:SLM) is paying 1 cent fully franked
Telstra Corporation. (ASX:TLS) is paying 8 cents fully franked