The Australian share market looks set to open slightly higher this morning after the US central bank decided to keep interest rates at record lows for longer. Asian stocks look set for gains today after a signal from the Federal Reserve in the US that more stimulus will be provided. Back home futures rose here and in Japan and Hong Kong.
Local Economic News
Business Indicators, Business Impacts of COVID-19, July 2020.
International Trade Price Indexes, June 2020.
Building Approvals, June 2020.
The Dow Jones Industrial Average added 0.6 per cent to 26,540, the S&P 500 gained 1.2 per cent to 3258 and the NASDAQ closed 1.4 per cent higher at 10,543.
European markets closed mixed, London’s FTSE added 0.04 per cent, Paris gained 0.6 per cent and Frankfurt closed 0.1 per cent lower.
Asian markets closed mixed, Tokyo’s Nikkei fell 1.2 per cent, Hong Kong’s Hang Seng added 0.5 and China’s Shanghai Composite closed 2.1 per cent higher.
Taking all of this into equation, the SPI futures are pointing to a 0.9 per cent gain.
Yesterday, the Australian share market closed 0.2 per cent lower at 6006.
Last week New Zealand rest home company Oceania Healthcare (ASX:OCA) announced its final dividend of 1.2 cents per share is payable on 17 August 2020. Oceania also advised that its dividend reinvestment plan (DRP) would apply to the dividend, for those shareholders that elect to participate by 5.00pm on 4 August 2020. Under the DRP, shares are offered at a 2.5 per cent discount to the volume weighted price of Oceania shares traded through the NZX Main Board in the 5 trading days starting on 31 July 2020. Shares in Oceania Healthcare (ASX:OCA) closed 1.04 per cent lower at $0.95 yesterday
One Australian Dollar at 7:45 AM was buying 71.92 US cents, 55.34 Pence Sterling, 75.47 Yen and 61.01 Euro cents.
Iron Ore gained 3.7 per cent to US$110.57.
Iron Ore futures suggest a 0.4 per cent gain.
Gold has added $23 to US$1987 an ounce.
Silver was up $0.11 to US$24.41 an ounce.
Oil was up $0.28 to US$41.32 a barrel.