Delay in China-US trade talks shakes Asia pacific shares: 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. All three US benchmarks were higher at the close. In the Asia Pacific shares were mixed after the reports of a potential delay in the signing of a US-China trade deal. Over in the UK the British Pound dipped after two members of the Bank of England's Monetary Policy Committee unexpectedly voted to cut interest rates at the Bank's November policy meeting. On the commodities front, oil has gained slightly and safe haven gold has dropped over $20.

Markets

Wall Street closed higher yesterday: The Dow Jones Industrial Average gained 0.7 per cent to 27,675, the S&P 500 closed 0.3 per cent higher at 3085 and the NASDAQ added 0.3 per cent to 8435.

European markets closed higher: London’s FTSE gained 0.1 per cent, Paris added 0.4 per cent and Frankfurt closed 0.8 per cent higher.

Asian markets closed mostly higher: Tokyo’s Nikkei added 0.1 per cent, Hong Kong’s Hang Seng closed 0.6 per cent higher and China’s Shanghai Composite closed flat.

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

Yesterday, the Australian share market closed 66 points or 1 per cent higher at 6727.

Local economic news 

ABS will release figute for lending to households and businesses, for September 2019

And the RBA's latest Statement on Monetary Policy is scheduled for release at 11.30am AEDT.

Company news

Construction engineering company, the Decmil Group (ASX:DCG) has been awarded two packages of work for Carmichael Rail Network to its Queensland business unit. The first package is a design and construct construction contract for rail accommodation valued at approximately $40 million. The second package is an initial $1.4 million Early Contractor Services (ECS) contract to scope the bulk earthworks required along the primary freight rail alignment. Work is expected to start immediately on both packages. Shares in Decmil Group (ASX:DCG) closed 4.65 per cent higher at $0.90 yesterday.

Ex-Dividends

CSR Limited (ASX:CSR) is paying 14 cents 50 per cent franked
Janus Henderson (ASX:JHG) is paying 52.45 cents unfranked
Joyce Corporation (ASX:JYC) is paying 5 cents 100 franked

Currencies

One Australian Dollar at 8:40AM was buying 68.99 US cents, 53.85 Pence Sterling, 75.43 Yen and 62.45 Euro cents.

Commodities

Iron Ore is 0.4 per cent lower at US$83.17.
Iron Ore futures suggest a 1.8 per cent fall.
Gold has dropped $24 to US$1469 an ounce.
Silver has lost $0.51 to US$17.09 an ounce.
Oil has gained $0.67 to US$57.02 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.