Trump delays Chinese tariffs: ASX poised to open higher

Market Reports

by Rachael Jones

Last Movement
$3.270 -$0.019 -0.57%
Data Source:
Last Updated: 6/12/2019 3:59 PM

Following positive leads from US markets, the Australian share market looks set to open higher this morning. Stocks on Wall Street rose yesterday. Earlier this week President Donald Trump agreed to delay an additional increase in tariffs on Chinese goods by two weeks “as a gesture of good will.” Also Europe's Central Bank announced a fresh round of stimulus with a large bond buying program. On the commodities front, oil has dropped and gold has gained.

Markets

Wall Street closed higher yesterday: The Dow Jones Industrial Average gained 0.2 per cent to close at 27,182, the S&P 500 closed 0.3 per cent higher at 3010 and the NASDAQ rose 0.3 per cent to 8194.

European markets closed higher: London’s FTSE added 0.1 per cent, Paris improved 0.4 per cent and Frankfurt also gained 0.4 per cent.

Asian markets closed mixed: Tokyo’s Nikkei added 0.8 per cent, Hong Kong’s Hang Seng fell 0.3 per cent and China’s Shanghai Composite gained 0.8 per cent.

Taking all of this into equation, the SPI futures are pointing to a 0.33 per cent gain.

Yesterday, the Australian share market closed 17 points or 0.3 per cent higher at 6655.

Company news

Integrated Research (ASX:IRI) is pleased to announce the appointment of Mr John Ruthven as Managing Director. He also takes over as managing director of Integrated Reseach's group of companies with effect from today. He joined Integrated Research as CEO in July 2019. Integrated Research is involved in the design and sale of systems and applications management computer software for business computing, Unified Communication networks and Payment networks. Shares in Integrated Research (ASX:IRI) closed 2.56 per cent lower at $3.04 yesterday.

Ex – Dividend

Austal Limited (ASX:ASB) is paying 3 cents unfranked
City Chic Collective (ASX:CCX) is paying 1.5 cents fully franked
CML Group Ltd (ASX:CGR) is paying 1.4 cents fully franked
Data#3 Limited (ASX:DTL) is paying 7.1 cents fully franked
ERM Power Limited (ASX:EPW) is paying 4.5 cents fully franked
Plato Inc Max Ltd (ASX:PL8) is paying 0.5 cents fully franked
Seven Group Holdings (ASX:SVW) is paying 21 cents fully franked
Village Roadshow Ltd (ASX:VRL) is paying 5 cents fully franked

Currencies

One Australian Dollar at 7:40AM was buying 68.68US cents, 55.70Pence Sterling, 74.25 Yen and 62.08 Euro cents.

Commodities

Iron Ore has gained 4.9 per cent to US$99.30.
Iron Ore futures suggest a 3.7 per cent gain.
Gold has gained $3.60 to US$1507 an ounce.
Silver was flat at US$18.17 an ounce.
Oil has dropped $0.62 to US$55.05 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.