Dow plunges as coronavirus fears grow: ASX poised to open lower

Market Reports

by Rachael Jones

Following weak leads from US markets, the Australian share market looks set to open lower this morning. The Dow plunged as coronavirus fears grow. More cases emerged outside of China sending global stocks down. European stocks dropped and in Hong Kong the Hang Seng index fell almost 2 per cent. On the commodities front, oil has lost and safe haven gold has added.

Markets

Wall Street closed lower yesterday: The Dow Jones Industrial Average fell 3.6 per cent to close at 27,961, the S&P 500 closed 3.4 per cent lower at 3226 and the NASDAQ dropped 3.7 per cent to 9221.

European markets closed lower: London’s FTSE fell 3.3 per cent, Paris dropped 3.9 per cent and Frankfurt was down over 4 per cent.

Asian markets closed lower: Hong Kong’s Hang Seng was down 1.8 per cent and China’s Shanghai Composite fell 0.3 per cent while Tokyo’s Nikkei was closed.

Taking all of this into equation, the SPI futures are pointing to 2.4 per cent fall.

Yesterday, the Australian share market closed 2.3 per cent lower at 6978.

Local economic news 

International Merchandise Trade: Confidential Commodities List, January 2020

Company news 

Jumbo Interactive (ASX:JIN) has entered into a new SaaS (Software as a Service) 5 year licence agreement with Australian charity lottery operator MS (Multiple Sclerosis) Queensland for the use of its Jumbo Lottery Platform. The agreement can be extended to 10 years subject to performance criteria being met. Under the agreement, MS Queensland will utilise a personalised version of Jumbo’s lottery platform to manage its entire lottery sales. It is the 4th charity lottery operator in 15 months to choose Jumbo. Shares in Jumbo Interactive (ASX:JIN) closed 4.89 per cent lower at $11.68 yesterday.

Ex-Dividends

APN Property Group (ASX:APD) is paying 1.6 cents 70.62 per cent franked
Breville Group Ltd (ASX:BRG) is paying 20.5 cents 60 per cent franked
Coca-Cola Amatil (ASX:CCL) is paying 26 cents unfranked
Challenger Limited (ASX:CGF) is paying 17.5 cents fully franked
The Citadel Group (ASX:CGL) is paying 4.8 cents fully franked
Contango Income Generator Ltd (ASX:CIE) is paying 1 cent fully franked
Domino's Pizza Enterprises Ltd (ASX:DMP) is paying 66.7 cents fully franked
Downer EDI Limited (ASX:DOW) is paying 14 cents unfranked
Heartland Group (ASX:HGH) is paying 4.3025 cents unfranked
IOOF Holdings Ltd (ASX:IFL) is paying 16 cents fully franked
Netwealth Group (ASX:NWL) is paying 6.9 cents fully franked
Reckon Limited (ASX:RKN) is paying 2 cents fully franked
Sandfire Resources (ASX:SFR) is paying 5 cents fully franked
Star Entertainment Group Ltd (ASX:SGR) is paying 10.5 cents fully franked
Santos Ltd (ASX:STO) is paying 7.4671 cents fully franked

Currencies

One Australian Dollar at 8:35 AM was buying 66.01 US cents, 51.07 Pence Sterling, 73.08 Yen and 60.83 Euro cents.

Commodities

Iron Ore has lost 0.4 per cent to $91.88.
Iron Ore futures suggest a 0.6 per cent gain.
Gold has added $13.40 to US$1662 an ounce.
Silver has gained $0.02 to US$18.70 an ounce.
Oil was down $2.14 to US$51.24 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.