Vaccine news keeps markets positive: ASX poised to open higher

Market Reports

by Rachael Jones

The Australian share market looks set to open higher this morning for the sixth day in a row as tech shares jumped up in the US. Global markets are still excited about the Covid-19 vaccines expected. Russia reports that early results from trials of their Covid vaccine suggest it could be 92 per cent effective. It comes after Pfizer and BioNTech said their vaccine could prevent 90 per cent of people getting Covid-19, based on a study of 43,500 people.

Economic News

Consumer Inflation expectations for November


Wall Street closed mixed yesterday: The Dow Jones Industrial Average fell 0.1 per cent to 29,398, the S&P 500 gained 0.8 per cent to 3573 and the NASDAQ closed over 2 per cent higher at 11,786.

European markets closed higher, London’s FTSE gained 1.4 per cent, Paris added 0.5 per cent and Frankfurt closed 0.4 per cent higher.

Asian markets closed mixed, Tokyo’s Nikkei gained 1.8 per cent, Hong Kong’s Hang Seng fell 0.3 per cent and China’s Shanghai Composite closed 0.5 per cent lower.

Taking all of this into equation, the SPI futures are pointing to a 0.5 per cent gain.

Yesterday, the Australian share market closed 1.7 per cent higher at 6450.

Company news

Telstra (ASX:TLS) is set to restructure into three separate entities, InfraCo Fixed, InfraCo Towers and ServeCo. They say this will enable them to take advantage of potential monetisation opportunities for its infrastructure assets.The restructure is expected to be complete by December 2021. Telstra also today reconfirmed its FY21 guidance. Shares in Telstra (ASX:TLS) closed 3.1 per cent higher at $2.99 yesterday.


Acorn Capital Investment Fund Ltd (ASX:ACQ) is paying 3.75 cents fully franked
National Australia Bank Ltd (ASX:NAB) is paying 30 cents fully franked


One Australian Dollar at 8:40 AM was buying 72.78 US cents, 55.07 Pence Sterling, 76.74 Yen and 61.80 Euro cents.


Iron Ore has added 1.9 per cent to US$124.56.
Iron Ore futures suggest 0.7 per cent gain.
Gold has lost $12.40 to US$1864 an ounce.
Silver was down $0.11 to US$24.35 an ounce.
Oil was up $0.24 to US$41.60 a barrel.

And finally a quick reminder our next online event is Nov 17. 5 companies presenting starting 12:30pm, details here Please register to secure a spot.


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