Wall St rises, Walmart shares up: ASX set to open higher

Market Reports

by Rachael Jones

Following positive leads from US markets, the Australian share market looks set to open higher. The US and European markets closed higher French President Emmanuel Macron has hit back at Trump's decision to sign an executive order targeting Chinese telecoms equipment maker Huawei saying launching a trade or tech war in any country is not appropriate. He says their prospective is not to block Huaweii or any country as its not the best way to defend national security. Trump's decision this week could affect Europe by impeding the global roll out of fifth generation networks. Walmart share price rose 3 per cent despite their first quarter results being mixed with high earnings but revenue down.

Markets 

Wall Street closed higher yesterday: The Dow Jones Industrial Average added 0.8 per cent to 25,863, the S&P 500 gained 0.9per cent to close at 2876 and the NASDAQ rose almost 1 per cent to 7898.

European markets closed higher: London’s FTSE added 0.8 per cent, Paris gained 1.4 per cent and Frankfurt rose 1.7 per cent.

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

Taking all of this into equation, the SPI futures are up 47 points. Yesterday, the Australian share market closed 44 points (0.7per cent) higher at 6328.

Company news 

iSignthis (ASX:ISX) has resolved to withdraw Resolution 4 from the agenda of the Annual General Meeting of shareholders due today. Resolution 4 related to the approval to issue an additional 10 per cent of issued capital over a 12 month period. To be eligible to seek approval under the ASX, a listed entity must have a market cap of $300 million, or less and not be included in the S&P/ASX300 Index. The Company has a market capitalisation of well in excess of $300 million and is therefore ineligible to seek approval. iSignthis is the global RegTech leader in remote identity verification, payment authentication with deposit taking, transactional banking and payment processing capability. Shares in iSignthis (ASX:ISX) closed 9.88 per cent higher at $0.445 yesterday.

Ex-Dividends

Dicker Data Limited (ASX:DDR) is paying 5 cents fully franked

Currencies

One Australian Dollar at 7:40AM was buying 68.93US cents, 53.88Pence Sterling, 75.72 Yen and 61.70 Euro cents.

Commodities

Iron Ore futures suggest a 2.68 per cent gain.
Gold has lost $10.80 to US$1287 an ounce.
Silver was down $0.27 to US$14.54 an ounce.
Oil gained $0.94 to US$63.32 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.