S&P 500 saw its biggest loss in a month: ASX set to open lower

Market Reports

by Rachael Jones

Following negative leads from US markets, the Australian share market looks set to open lower this morning. The S&P 500 saw its biggest loss in a month amid concerns a phase one trade deal between the US and China may not be completed this year. Oil gained more than 3 per cent on Wednesday after a better-than-expected US crude inventories report. The move also came as tensions in the Middle East rose.

Markets

Wall Street closed lower yesterday: The Dow Jones Industrial Average closed 0.4 per cent lower at 27821, the S&P 500 closed 0.4 per cent lower at 3108 and the NASDAQ shed 0.5 per cent to 8527.

European markets closed lower: London’s FTSE lost 0.84 per cent, Paris dipped 0.25 per cent and Frankfurt closed 0.5 per cent lower.

Asian markets closed lower: Tokyo’s Nikkei fell 0.62 per cent, Hong Kong’s Hang Seng lost 0.8 per cent and China’s Shanghai Composite shed 0.8 per cent.

Taking all of this into equation, the SPI futures are pointing to a 0.15 per cent fall.

Yesterday, the Australian share market closed 92 points or 1.35 per cent lower at 6722.

Company news

Noni B (ASX:NBL) and the Alceon group have reached an agreement for Noni B to buy a 50.1 per cent interest in EziBuy from Alceon. EziBuy is one of the largest multi-national retailers in Australia and New Zealand generating approximately $135 million. The provides Noni B with a database of over 2 million customers. They have the option to buy the remaining 49.9 per cent equity interest in EziBuy with an exercise prices of $11 million in cash. Shares in Noni B (ASX:NBL) closed 0.4 per cent higher at $2.55 yesterday.

Ex-dividends

Investech Australia Property Fund (ASX:IAP) paying a dividend of 3.2 cents unfranked.
Z Energy (ASX:ZEL) paying a dividend of 15.31 cents unfranked

Currencies

One Australian Dollar at 8:45AM was buying 68.01 US cents, 52.64 Pence Sterling, 73.88 Yen and 61.44 Euro cents.

Commodities

Iron Ore price is 0.6 per cent higher at $86.33.
It’s futures suggest a 0.5 per cent fall.
Gold has lost $2.70 to US$1,472 an ounce.
Silver has flat to US$17.27 an ounce.
Oil has risen by $1.76 to US$57.11 a barrel.