Could fresh China talks lead to a breakthrough?: 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 this morning. Wall Street stocks surged under the announcement that China and the US will resume trade talks next month. Hong Kong stocks ended flat in subdued trade on Thursday and London's FTSE gained. On the commodities front, oil gained slightly and gold dropped over $30.

Local economic news

AiG performance of construction for August

Markets

Wall Street closed higher yesterday: The Dow Jones Industrial Average gained 1.4per cent to close at 26,728, the S&P 500 closed 1.3 per cent higher at 2976 and the NASDAQ added 1.8 per cent to 8117.

European markets closed mixed: Paris lost 0.6 per cent and Frankfurt added 1.1 per cent while London’s FTSE gained 0.9 per cent.

Asian markets closed mixed: Tokyo’s Nikkei added 2.1 per cent, Hong Kong’s Hang Seng fell 0.03 per cent and China’s Shanghai Composite gained almost 1 per cent.

Taking all of this into equation, the SPI futures are pointing to a 0.2 per cent gain.

Yesterday, the Australian share market closed 60 points or 0.9 per cent higher at 6613.

Company news 

Rare earths producer, Northern Minerals (ASX:NTU) has raised to date under the company's $30 million Placement approximately $22.6 million (before costs). The balance of approximately $7.4 million in subscription funds were not received by the due date of 31 August 2019 but the Company has subsequently agreed to extend the completion date for those subscribers to 31 October 2019. Shares in Northern Minerals (ASX:NTU) closed flat at 6.3 cents yesterday.

Ex – Dividend

Australian Finance Group Ltd (ASX:AFG) is paying 5.9 cents fully franked
Argo Global Ltd(ASX:ALI) is paying 4 cents fully franked
APN Property Group Ltd (ASX:APD) is paying 1.5 cents 45 per cent franked
Antipodes Global Investment Company Ltd (ASX:APL) is paying 2.5 cents 50 per cent franked
Cyclopharm Limited (ASX:CYC) is paying 0.5 cents unfranked
Kelly Partners Group (ASX:KPG) is paying 0.55 cents fully franked
McPherson's Ltd (ASX:MCP) is paying 6 cents fully franked
MNF Group Ltd (ASX:MNF) is paying 4 cents fully franked
National Veterinary Care Ltd (ASX:NVL) is paying 3.5 cents fully franked
Objective Corporation Limited (ASX:OCL) is paying 6 cents 83.33 per cent franked
Pental Ltd (ASX:PTL) is paying 1.3 cents fully franked
Southern Cross Media Group Ltd (ASX:SXL) is paying 4 cents fully franked
Wisetech Global Ltd (ASX:WTC) is paying 1.95 cents fully franked

Currencies

One Australian Dollar at 7:40AM was buying 68.15US cents, 55.30Pence Sterling, 72.89 Yen and 61.76 Euro cents.

Commodities

The iron ore price has dropped 1.2 per cent to $90.18
Iron Ore futures suggest a 0.9 per cent fall.
Gold has dropped $33.30 to US$1527 an ounce.
Silver has lost $0.80 cents to US$18.75 an ounce.
Oil has gained $0.25 to US$56.17 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.