Global markets caught off-guard: ASX set to open higher

Market Reports

by Rachael Jones

Australian shares are set to edge higher this morning as trade talks regarding the US and China are imminent. The S&P 500 swung between gains and losses for most of yesterday as the trade tensions escalated. It possible tariffs for China could be raised by Friday. Beijing’s top trade negotiator, Liu He, is in Washington for the high-stakes talks.

Markets

Wall Street closed mostly lower yesterday: The Dow Jones Industrial Average closed flat at 25,967, the S&P 500 fell 0.2 per cent to close at 2879 and the NASDAQ lost 0.3 per cent to 7943.

European markets closed higher: London’s FTSE added 0.2 per cent, Paris gained 0.4 per cent and Frankfurt closed up 0.7 per cent.

Asian markets closed lower, Tokyo’s Nikkei fell 1.5 per cent, Hong Kong’s Hang Seng dropped 1.2 per cent and China’s Shanghai Composite lost 1.1 per cent.

Taking all of this into equation, the SPI futures are up 14 points. Yesterday, the Australian share market closed 27 points (0.4 per cent) lower at 6269.

Company news

Tilt Renewables (ASX:TLT) results for the financial year ending 31 March show cash from operating activities of $112.4 million, up 31 per cent on prior period. They saw EBITDAF of $134.8 million. Across the year they also saw the 54 MW Salt Creek Wind Farm achieve commercial operations in July 2018 and the 336 MW Dundonnell Wind Farm was successfully bid into the Victorian Renewable. Construction of the $560 million Snowy Hydro project is also underway. Tilt Renewables was successful in raising $260 million from its first equity offering. Shares in Tilt Renewables (ASX:TLT) closed flat at $2.30 yesterday.

Ex-dividends

Amyf Four Ltd (ASX:AYK) is paying 10 cents fully franked
Amyf Five Ltd (ASX:AYZ) is paying 25 cents fully franked
Rhipe Ltd (ASX:RHP) is paying 1 cent fully franked

Currencies

One Australian Dollar at 7:45AM was buying 69.93US cents, 53.78 Pence Sterling, 76.99 Yen and 62.49 Euro cents.

Commodities

Iron Ore futures suggest a 1.0 per cent fall
Gold has lost $3.90 to US$1282 an ounce.
Silver was down $0.08 to US$14.85 an ounce.
Oil gained $0.59 to US$61.99 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.