Many employees content to stay working from home: ASX set to rise at the open

Market Reports

by Rachael Jones

Following a rise from US markets for a second day, the Australian share market looks set to open higher this morning. The US business reopening plans are in disarray as Covid-19 is detected in hotspots such as Texas, Florida, Arizona and California. Back home, a new survey has shown how coronavirus has changed our attitudes to work. Up to 60 per cent of respondents want to split their working time between home and office, with many happier to be in the office for only two or three days of a five-day working week. The AUD rose again against the US dollar.

Markets

Wall Street closed higher yesterday: The Dow Jones Industrial Average gained 0.5 per cent to 26,156 the S&P 500 added 0.4 per cent to 3131 and the NASDAQ closed 0.7 per cent higher at 10,131.

European markets closed higher, London’s FTSE gained 1.2 per cent, Paris added 1.4 per cent and Frankfurt also closed 2.1 per cent higher.

Asian markets closed higher, Tokyo’s Nikkei added 0.5 per cent, Hong Kong’s Hang Seng closed 1.6 per cent higher, and China’s Shanghai Composite added 0.2 per cent.

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

Yesterday, the Australian share market closed 0.2 per cent higher at 5954.

Company news 

Corporate travel and expense management company Serko (ASX:SKO) reported increased revenue for 2020, but did not offer 2021 guidance. The company reported net loss after tax for the year was $9.4 million, due to increased operating expenses. But total Operating Revenue rose 11 per cent to $25.9 million, up $2.5 million from the prior year. Shares in Serko (ASX:SKO) closed 0.98 per cent lower at $3.03 yesterday.

Currencies

One Australian Dollar at 7:45 AM was buying 69.30 US cents, 55.40 Pence Sterling, 73.81 Yen and 61.29 Euro cents.

Commodities

Iron Ore lost 1.1 per cent to US$100.62.
Iron Ore futures suggest a 0.46 per cent gain.
Gold has added $15.60 to US$1782 an ounce.
Silver was up 17 cents to US$18.24 an ounce.
Oil has lost $0.36 to US$40.37 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.