Boeing shares rise as CEO is ousted: ASX set to open flat

Market Reports

by Rachael Jones

Following positive leads from US markets, the Australian share market looks set to open flat. There was light trading in the US as people enjoy their Christmas break as US stocks edged to fresh highs. The S&P 500 gained for the eighth time in nine sessions, another all-time high after China said it cut tariffs. Shares in Boeing surged after Chief Executive Officer Dennis Muilenburg was ousted.

Markets

Wall Street closed up yesterday: The Dow Jones Industrial Average gained 0.3 per cent to close at 28.552, the S&P 500 added 0.1 per cent to close at 3224 and the NASDAQ added 0.2 per cent to close at 8.946.

European markets closed mixed: London’s FTSE closed 0.5 per cent higher, Paris rose 0.1 per cent and Frankfurt lost 0.1 per cent.

Asian markets closed mixed: Tokyo’s Nikkei added 0.02 per cent, Hong Kong’s Hang Seng added 0.1 per cent, and China’s Shanghai Composite lost 1.4 per cent.

Taking all of this into equation, the ASX futures are pointing to a 2 points fall. Yesterday the Australian share market closed lower with the S&P/ASX 200 Index closing 31 points or 0.5 per cent lower at 6785

Company news

Resolute Mining (ASX:RSG) has forward sold an additional 30,000 ounces of gold at an average price of US$1,501 per ounce. The gold will be delivered in 5,000 ounces between July 2020 and December 2020. Resolute has extended the Company’s US dollar denominated gold hedge position to secure price certainty during 2020 for a portion of the US dollar revenues generated from Resolute’s African gold mines: the Syama Gold Mine in Mali and the Mako Gold Mine in Senegal. Shares in Resolute Mining (ASX: RSG) closed 1.8 per cent higher at $1.11.

Currencies

One Australian Dollar at 9:00AM was buying 69.23 US cents, 53.56 Pence Sterling, 75.71 Yen and 62.44 Euro cents.

Commodities

Iron Ore futures suggest a 0.2 per cent fall.
Gold has gained $8.90 to US$1,490 an ounce.
Silver has gained $0.30 to US$17.52 an ounce.
Oil has risen by $0.20 to US$60.64 a barrel.