Boeing shares take another hit: ASX set to open higher

Market Reports

by Rachael Jones

Australian shares are poised to open higher this morning, following on from a rally on Wall St as US data signaled a resilient economy. Boeing shares face more pressure as the US decided to ground their Boeing 737 Max planes following on from the fatal Ethiopian crash. Of the 350 jets, 74 are flown by US airlines including United Airlines, American airlines and Southwest Airlines. The British pound gained as the UK Parliament rejected a no-deal Brexit from the EU. On the commodities front – gold and oil rose.

Local Economic News

We can expect to see Consumer inflation expectations for March from the Reserve Bank later today .


Wall Street closed higher yesterday: The Dow Jones Industrial Average gained 0.6 per cent to close at 25,703, the S&P 500 added 0.7 per cent to close at 2,811 and the NASDAQ also closed 0.7 per cent higher at 7643.

European markets closed higher: London’s FTSE added 0.1 per cent, Paris gained 0.7 per cent and Frankfurt was up 0.4 per cent.

Asian markets closed lower, Tokyo’s Nikkei fell almost 1 per cent, Hong Kong’s Hang Seng dropped 0.4 per cent and China’s Shanghai Composite dipped 1.1 per cent.

Taking all of this into equation, the ASX futures are up 20 points. Yesterday the Australian share market closed 0.2 per cent lower or 14 points at 6161.

Company news

Shipbuilder Austal (ASX:ASB) has delivered a 50 metre high-speed catamaran under their first commercial contract award to a Taiwan enterprise. The catamaran is the first of two 550 passenger Austal-designed vessels being constructed at the company’s Philippines shipyard.Since the shipyard was opened in 2012, they have trebled construction capacity. The contract was awarded to Austal by Taiwan’s Brave Line in September 2017. Shares in Austal (ASX:ASB) closed 0.43 per cent higher at $2.34 yesterday.


One Australian Dollar at 7:40 AM was buying 70.97US cents, 53.17 Pence Sterling, 78.91 Yen and 62.64 Euro cents.


Iron Ore futures suggest a 0.9 per cent gain.
Gold has gained $12 to US$1310 an ounce.
Silver has added $0.05 to US$15.46 an ounce.
Oil was $1.47 higher at US$58.67 a barrel. 


Air New Zealand Limited (ASX:AIZ) is paying 10.5455 cents unfranked
Australian Leaders Fund Limited (ASX:ALF) is paying 2 cents fully franked
AMA Group Limited (ASX:AMA) is paying 0.5 cents fully franked
CPT Global Limited (ASX:CGO) is paying 0.25 cents fully franked
Data#3 Limited (ASX:DTL) is paying 3.6 cents fully franked
DWS Ltd (ASX:DWS) is paying 4 cents fully franked
Ebos Group Ltd (ASX:EBO) is paying 29.427 cents 95.77 per cent franked
Embelton Limited (ASX:EMB) is paying 20 cents fully franked
G8 Education Limited (ASX:GEM) is paying 8 cents fully franked
Grange Resources Limited (ASX:GRR) is paying 1 cent fully franked
Heartland Group Holdings Limited (ASX:HGH) is paying 3.3477 cents unfranked
Lindsay Australia Limited (ASX:LAU) is paying 1 cent fully franked
Laserbond Limited (ASX:LBL) is paying 0.5 cents fully franked
Legend Corporation Limited (ASX:LGD) is paying 0.85 cents fully franked
Metlifecare Ltd (ASX:MEQ) is paying 3.0427 cents unfranked
Midway Ltd (ASX:MWY) is paying 9 cents fully franked
National Tyre & Wheel Ltd (ASX:NTD) is paying 1.25 cents fully franked
Plato Inc Max Ltd (ASX:PL8) is paying 0.5 cents fully franked
RedHill Education Ltd (ASX:RDH) is paying 2 cents fully franked
Regional Express Holdings Ltd (ASX:REX) is paying 4 cents fully franked
Spark New Zealand Ltd (ASX:SPK) is paying 11.563 cents unfranked
Templeton Global Growth Fund Ltd (ASX:TGG) is paying 2 cents fully franked
Tassal Group Limited (ASX:TGR) is paying 9 cents 25 per cent franked
URB Investments Ltd (ASX:URB) is paying 1.75 cents fully franked

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.