Fresh highs for US markets on GDP data: ASX poised to open higher

Market Reports

by Rachael Jones

Following positive leads from US markets, the Australian share market looks set to open higher. The S&P 500, Nasdaq Composite and Dow Jones Industrial Average closed at all-time levels for a third straight day. Results from US gross gross domestic product and unemployment figures beat analysts’ expectations. The markets are closed for Thanksgiving and will have a short trading day tomorrow. 

Markets

Wall Street closed higher yesterday: The Dow Jones Industrial Average closed 0.15 per cent higher at 28,164, the S&P 500 gained 0.4 per cent to 3154 and the NASDAQ added 0.6 per cent to 8705.

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

Asian markets closed mixed: Tokyo’s Nikkei added 0.3 per cent, Hong Kong’s Hang Seng gained 0.2 per cent and China’s Shanghai Composite closed 0.1 per cent lower.

Taking all of this into equation, the SPI futures are pointing to a 0.3 per cent rise.

Yesterday, the Australian share market closed 63 points or 0.9 per cent higher at 6851.

Local economic news 

Private capital expenditure for September from the Australian Bureau of Statistics

Company news

Silver Lake Resources (ASX:SLR) has a relevant interest in 90.99 per cent of Egan Street Resources (ASX:EGA) shares and intends to compulsorily acquire any EganStreet shares that are not accepted into its takeover offer. A compulsory acquisition notice has today been lodged with the Australian Securities and Investments Commission. EganStreet shareholders who have not yet accepted Silver Lake’s offer may still do so by 7.00pm on 13 December 2019, Sydney time. Shareholders who accept the offer by this date will receive the consideration for their shares earlier, rather than waiting for their shares to be compulsorily acquired under the compulsory acquisition process. Shares in Silver Lake Resources (ASX:SLR) closed 7.6 per cent higher at $1.13 yesterday.

Ex-Dividends

Aristocrat Leisure (ASX:ALL) is paying 34 cents fully franked
Australian Unity Off (ASX:AOF) is paying 4 cents unfranked
Civmec Limited (ASX:CVL) is paying 0.63 cents fully franked
Gryphon Capital (ASX:GCI) is paying 0.7 cents unfranked
Infratil Limited (ASX:IFT) is paying 5.51 cents unfranked
Perpetual Credit Trust (ASX:PCI) is paying 0.36 cents unfranked
Qualitas (ASX:QRI) is paying 0.79 cents unfranked
Technology One (ASX:TNE) is paying 8.78 cents 60 per cent franked

Currencies

One Australian Dollar at 8:40 AM was buying 67.77 US cents, 52.52 Pence Sterling, 74.24 Yen and 61.61 Euro cents.

Commodities

Iron Ore has lost 1.9 per cent to US$87.56.
Iron Ore futures suggest a 0.3 per cent fall.
Gold has lost $6.40 to US$1461 an ounce.
Silver has lost $0.13 to US$17.06 an ounce.
Oil has lost $0.29 to US$58.12 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.