Health advisors predict four coronavirus vaccine trials could fail: The ASX is poised to open higher

Market Reports

by Rachael Jones

The Australian share market looks set to edge higher this morning after technology stocks boosted Wall Street ending another record-breaking session. Tesla’s shares saw a record rise yesterday, the company have now decided to sell up to $5 billion in stock. Still in the US, a group advising US health officials has predicted that four late-stage coronavirus vaccine trials backed by the United States could fail to provide positive results. According to their report, vaccines for infectious diseases have a 33.4 per cent success rate of making it through clinical trials and to regulatory approval.

Local Economic News

Australian National Accounts: National Income, Expenditure and Product, June 2020.

Markets

Wall Street closed higher yesterday: The Dow Jones Industrial Average gained 0.8 per cent to 28,646 the S&P 500 added 0.8 per cent to 3527 and the NASDAQ closed 1.4 per cent higher at 11,940.

European markets closed mixed, London’s FTSE lost 1.7 per cent, Paris was down 0.2 per cent and Frankfurt closed 0.2 per cent higher.

Asian markets closed mixed, Tokyo’s Nikkei fell 0.01 per cent, Hong Kong’s Hang Seng added 0.03 per cent and China’s Shanghai Composite closed 0.4 per cent higher.

Taking all of this into equation, the SPI futures are pointing to a 0.4 per cent gain.

Yesterday, the Australian share market closed 1.8 per cent lower at 5953.

Company news

The Gentrack Group (ASX:GTK) is pleased to announce the appointment of Gary Miles as Chief Executive Officer, starting on the 1 October 2020. Miles’ appointment follows an extensive global executive search to identify candidates with enterprise software and cloud native experience to lead Gentrack into its next phase as a leading provider of SaaS solutions for utilities and airports. Gary served on the leadership team of Amdocs a provider of cloud business software and services to the communications industry. Shares is Gentrack Group (ASX:GTK) closed 1.04 per cent higher at $1.46 yesterday.

Ex-Dividends

Amcor PLC (ASX:AMC) is paying 16 cents unfranked
Australian United Investment Company Ltd (ASX:AUI) is paying 19 cents fully franked
The Citadel Group (ASX:CGL) is paying 6 cents fully franked
Diversified United (ASX:DUI) is paying 8.5 cents fully franked
Excelsior Capital (ASX:ECL) is paying 2 cents fully franked
Flagship Investments (ASX:FSI) is paying 4.25 cents fully franked
Hansen Technologies (ASX:HSN) is paying 7 cents 10 per cent franked
IRESS Limited (ASX:IRE) is paying 16 cents 35 per cent franked
Integrated Research (ASX:IRI) is paying 3.75 cents fully franked
Kip McGrath Education Centres Limited (ASX:KME) is paying 2 cents fully franked
Mader Group Limited (ASX:MAD) is paying 1.5 cents fully franked
Mainstream Group (ASX:MAI) is paying 1 cent 50 per cent franked
Money3 Corporation (ASX:MNY) is paying 3 cents fully franked
Mortgage Choice Ltd (ASX:MOC) is paying 3.5 cents fully franked
Medibank Private Ltd (ASX:MPL) is paying 6.3 cents fully franked
PM Capital Global Opportunities Fund Ltd (ASX:PGF) is paying 2.5 cents fully franked
QANTM Intellectual Property Ltd (ASX:QIP) is paying 3.8 cents fully franked
Sunland Group Ltd (ASX:SDG) is paying 10 cents fully franked
Treasury Wine Estate (ASX:TWE) is paying 8 cents fully franked

Currencies

One Australian Dollar at 7:45 AM was buying 73.77 US cents, 55.15 Pence Sterling, 78.17 Yen and 61.92 Euro cents.

Commodities

Iron Ore gained 19 cent to US$124.66.
Iron Ore futures suggest a 0.5 per cent gain.
Gold has gained $0.30 to US$1979 an ounce.
Silver was up $0.05 to US$28.65 an ounce.
Oil was up $0.39 to US$43.00 a barrel.