Energy bolsters US stocks: ASX poised to open lower

Market Reports

by Rachael Jones

Despite positive leads from US markets, the Australian share market looks set to open lower this morning, a US lift not enough to bolster our market. Energy shares rallied in the US, Texas crude rose and Chevron and Exxon saw a lift. The S&P 500 climbed. The financial sector was up over 1 per cent. Earlier losses were seen as a response to the US Treasury yield curve inversion. On the commodities front, oil continued to increase and safe haven gold also saw a rise.

Local economic news 

Private capital expenditure for June


Wall Street closed higher yesterday: The Dow Jones Industrial Average gained 1 per cent to close at 26,036, the S&P 500 closed 0.7 per cent higher at 2888 and the NASDAQ gained 0.4 per cent to 7857.

European markets closed mixed: Paris gained 0.4 per cent and Frankfurt was down 0.3 per cent while London’s FTSE was also down 0.3 per cent.

Asian markets closed mixed: Tokyo’s Nikkei rose 0.1 per cent, Hong Kong’s Hang Seng was down 0.2 per cent and China’s Shanghai Composite closed 0.3 per cent lower.

Taking all of this into equation, the SPI futures are pointing to a 0.1 per cent fall.

Yesterday, the Australian share market closed 29 points or 0.5 per cent higher at 6501.

Company news

Infigen (ASX:IFN) has agreed to lease 120 Mega Watt of open cycle gas turbine equipment from the South Australian Government for 25 years, starting next May.Together with the 123 Mega Watt Smithfield facility in NSW and the SA Battery at Lake Bonney this helps to firm Infigen’s platform. They can increase electricity sales to Commercial and Industrial customers in the National Electricity Market.
Shares in Infigen (ASX:IFN) closed 4.55 per cent higher at $0.58 yesterday.

Reporting Season

- Adelaide Brighton Ltd (ASX:ABC)
- Appen Ltd (ASX:APX)
- Cromwell Group (ASX:CMW)
- Independence Group NL (ASX:IGO)
- Link Administration Holdings Ltd (ASX:LNK)
- Village Roadshow Ltd (ASX:VRL)
- Woolworths Group Ltd (ASX:WOW)

Ex – Dividend

Bapcor Limited (ASX:BAP) is paying 9.5 cents fully franked
Baby Bunting Group Ltd (ASX:BBN) is paying 5.1 cents fully franked
Beach Energy Limited (ASX:BPT) is paying 1 cent fully franked
Codan Limited (ASX:CDA) is paying 7.5 cents fully franked
Gryphon Capital Income Trust (ASX:GCI) is paying 0.77 cents unfranked
Healius (ASX:HLS) is paying 3.4 cents fully franked
Jumbo Interactive (ASX:JIN) is paying 21.5 cents fully franked
MyState Limited (ASX:MYS) is paying 14.5 cents fully franked
Ooh!Media Limited (ASX:OML) is paying 3.5 cents fully franked
Perpetual Credit Income Trust (ASX:PCI) is paying 0.3993 cents unfranked
Qualitas Real Estate Income Fund (ASX:QRI) is paying 0.737 cents unfranked
REA Group (ASX:REA) is paying 63 cents fully franked
SKYCITY Entertainment Group Limited (ASX:SKC) is paying 9.5356 cents unfranked


One Australian Dollar at 7:40AM was buying 67.38US cents, 55.17Pence Sterling, 71.47 Yen and 60.82 Euro cents.


Iron Ore futures suggest a 1.2 per cent gain.
Gold has dropped $2.40 to US$1549 an ounce.
Silver has added $0.16 cents to US$18.45 an ounce.
Oil has increased by $0.97 to US$55.90 a barrel.

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