Trump eases his wording on China: ASX poised to edge higher

Market Reports

by Rachael Jones

Australian shares are set to edge up higher this morning in an unexpected boost after a fall yesterday over Trump's China comments. Wall Street climbed after he eased his wording on China. Trump said US trade officials received overnight calls saying Beijing was ready to return to the negotiating table. Apple and Boeing rose pushing up the Dow.

Local economic news 

RBA Deputy governor Guy Debelle is due to speak in Canberra today.

Markets

Wall Street closed higher yesterday: The Dow Jones Industrial Average added 1.1 per cent to close at 25,899, the S&P 500 closed 1.1 per cent higher at 2878 and the NASDAQ gained 1.3 per cent to 7854.

European markets closed higher: Paris gained 0.5 per cent and Frankfurt was up 0.4 per cent while London’s FTSE was closed,

Asian markets closed lower: Tokyo’s Nikkei fell 2.2 per cent, Hong Kong’s Hang Seng was down 1.9 per cent and China’s Shanghai Composite closed 1.2 per cent lower.

Taking all of this into equation, the SPI futures are pointing to a 0.3 per cent gain.

Yesterday, the Australian share market closed 83 points or 1.3 per cent lower at 6440.

Company news

Macquarie Media (ASX:MRN) yesterday announced the appointment of Alessandra Steele, General Counsel, as an additional company secretary. Macquarie Media operates radio stations in Sydney, Melbourne, Brisbane and Perth, as well as regional Queensland. It's majority owned by Nine Entertainment Co. It also operates news service Macquarie National News. The company was originally founded in 1938 as the Macquarie Broadcasting Service, adopting its current name after being acquired by Fairfax in 2015. Shares in Macquarie Media (ASX:MRN) closed 0.3 per cent lower at $1.46 yesterday.

Reporting Season

- Caltex Australia (ASX:CTX)
- Inghams Group (ASX:ING)
- Wesfarmers (ASX:WES)

Ex – Dividend

Ashley Services Group Ltd (ASX:ASH) is paying 2.7 cents fully franked
Blackmores Limited (ASX:BKL) is paying 70 cents fully franked
Coca-Cola Amatil Ltd (ASX:CCL) is paying 25 cents unfranked
Domino's Pizza Enterprises Ltd (ASX:DMP) is paying 52.8 cents fully franked
Fiducian Group Ltd (ASX:FID) is paying 11.3 cents fully franked
Platinum Asset Management Ltd (ASX:PTM) is paying 14 cents fully franked
Reckon Limited (ASX:RKN) is paying 3 cents fully franked
Santos Ltd (ASX:STO) is paying 8.8483 cents fully franked
WorleyParsons Ltd (ASX:WOR) is paying 15 cents unfranked

Currencies

One Australian Dollar at 7:40AM was buying 67.78US cents, 55.46Pence Sterling, 71.93 Yen and 61.06 Euro cents.

Commodities

Iron Ore futures suggest a 2.3 per cent fall
Gold has dropped $0.70 to US$1537 an ounce.
Silver has gained $0.23 cents to US$17.79 an ounce.
Oil has dropped $0.37 to US$53.80 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.