Wall Street closed, European markets lift: Aus shares to drift lower at open

Market Reports

by Anna Napoli

The Australian sharemarket looks set to open lower this morning ahead of the Reserve Bank's interest rate decision. US markets were closed on Monday for the Labor day holiday. However, US futures declined following media reports that Chinese and US officials have struggled to schedule a planned meeting to continue trade talks.

European sharemarkets lifted although trading volumes were thin. UK Prime Minister Boris Johnson said on Monday that the chances of striking a deal to leave the EU have increased as he insisted Britain would not delay its exit from the bloc again.

Global oil prices fell following the introduction of fresh US tariffs on China, raising concerns about further damage to global economic growth.

Local economic news

Today the Reserve Bank holds its monthly meeting. No change in rates is expected. Also on Tuesday, the June quarter government finance statistics are released.

Markets

Wall Street was closed yesterday.

European markets closed higher:Paris gained over 1 per cent and Frankfurt added 0.2per cent while London’s FTSE rose 0.1 per cent.

Asian markets closed mixed:Tokyo’s Nikkei fell 0.4 per cent, Hong Kong’s Hang Seng was down 0.4 per cent and China’s Shanghai Composite closed 1.3 per cent higher.

Returning home the SPI futures are pointing to a 0.2 per cent fall. Yesterday, the Australian share market closed 25 points or 0.4 per cent lower at 6579.

Company news

Abacus Property Group (ASX:ABP) has exchanged contracts for the acquisition of five self storage properties for $57 million with settlement expected by the end of the year. The purchase comprises four purpose-built Storage King facilities located in metropolitan Perth and Auckland. As well as one Sydney development site to accommodate a future multi-level facility. Shares in Abacus Property Group (ASX:ABP) closed 0.5 per cent lower at $3.95 yesterday.

Ex – Dividend

Australian Ethical Investment Limited (ASX:AEF) is paying 3 cents fully franked
Altium Limited (ASX:ALU) is paying 18 cents unfranked
Appen Limited (ASX:APX) is paying 4 cents 42.53 per cent franked
Bravura Solution Ltd (ASX:BVS) is paying 4.8 cents unfranked
Downer EDI Limited (ASX:DOW) is paying 14 cents 50 per cent franked
DWS Ltd (ASX:DWS) is paying 4 cents fully franked
Excelsior Capital Ltd (ASX:ECL) is paying 3 cents fully franked
Hansen Technologies Limited (ASX:HSN) is paying 3 cents86.66 per cent franked
Mount Gibson Iron Limited (ASX:MGX) is paying 4 cents fully franked
Medical Developments International Ltd (ASX:MVP) is paying 2 cents fully franked
Oil Search Ltd (ASX:OSH) is paying 7.3714 cents unfranked
Propel Funeral Partners Ltd (ASX:PFP) is paying 5.8 cents fully franked
Ramelius Resources Limited (ASX:RMS) is paying 1 cent fully franked
St Barbara Limited (ASX:SBM) is paying 4 cents fully franked
Shriro Holdings Ltd (ASX:SHM) is paying 4 cents fully franked
Spark Infrastructure Group (ASX:SKI) is paying 7.5 cents unfranked
Sealink Travel Group Ltd (ASX:SLK) is paying 8.5 cents fully franked
Woolworths Group Ltd (ASX:WOW) is paying 57 cents fully franked

Currencies

One Australian Dollar at 7:40AM was buying 67.18 US cents, 55.69 Pence Sterling, 71.37 Yen and 61.25 Euro cents.

Commodities

Iron Ore futures suggest a 3.39 per cent gain.
Gold has gained $8.70 to US$1538 an ounce.
Silver has added$0.23 cents to US$18.57 an ounce.
Oil has lost $0.33 to US $54.77 a barrel.