The Australian share market looks set to open lower this morning as stocks in the US fell after a tech sell off and Federal Reserve Chairman Jerome Powell vows to keep rates near zero for three years. President Donald Trump said the US government could start distributing a coronavirus vaccine as early as October, this is in contrast to what his than own health officials claim where the estimate a much later date.
Local Economic News
ABS Labour Force, August 2020.
Wall Street closed mixed yesterday: The Dow Jones Industrial Average gained 0.1 per cent to 28,032 the S&P 500 lost 0.5 per cent to 3385 and the NASDAQ closed 1.3 per cent lower at 11,050.
European markets closed mixed, London’s FTSE fell 0.4 per cent, Paris added 0.1 per cent and Frankfurt closed 0.3 per cent higher.
Asian markets closed mixed, Tokyo’s Nikkei added 0.1 per cent, Hong Kong’s Hang Seng lost 0.03 per cent and China’s Shanghai Composite closed 0.4 per cent lower.
Taking all of this into equation, the SPI futures are pointing to 0.2 per cent loss.
Yesterday, the Australian share market closed 1 per cent higher at 5956.
Platinum Asset Management (ASX:PTM) announced its intention to extend its on-market share buy-back for up to 10 per cent of PTM’s issued share capital for a further period of up to 12 months starting from 4 October 2020. The purpose is to enable PTM, as part of its ongoing capital management policy, to buy-back its shares should the PTM share price trade at a significant discount to its underlying value. No target price has been set. Shares in Platinum Asset Management (ASX:PTM) closed 1.54 per cent higher at $3.29 yesterday.
5G Networks Limited (ASX:5GN) is paying 1 cent fully franked
Apiam Animal Health (ASX:AHX) is paying 1.2 cents fully franked
Academies Aus Grp (ASX:AKG) is paying 1.365 cents fully franked
Aurelia Metals Ltd (ASX:AMI) is paying 1 cent fully franked
Clime Investment (ASX:CIW) is paying 1 cent fully franked
Enero Group Ltd (ASX:EGG) is paying 3.5 cents fully franked
Embelton Limited (ASX:EMB) is paying 20 cents fully franked
Joyce Corporation (ASX:JYC) is paying 5 cents fully franked
OZ Minerals (ASX:OZL) is paying 8 cents fully franked
Pacific Grp Ltd (ASX:PAC) is paying 25 cents fully franked
Pwr Holdings Limited (ASX:PWH) is paying 4 cents fully franked
RXP Services Ltd (ASX:RXP) is paying 2.5 cents fully franked
Spark New Zealand (ASX:SPK) is paying 11.3636 cents unfranked
Seven Group Holdings (ASX:SVW) is paying 21 cents fully franked
Western Areas Ltd (ASX:WSA) is paying 1 cent fully franked
One Australian Dollar at 7:45 AM was buying 73.04 US cents, 56.35 Pence Sterling, 76.65 Yen and 61.84 Euro cents.
Iron Ore lost 3.4 per cent to US$124.20.
Iron Ore futures suggest a 3.2 per cent fall.
Gold has added $0.90 to US$1967 an ounce.
Silver was down $0.13 to US$27.34 an ounce.
Oil was up $1.90 to US$40.18 a barrel.