The UK roll out their Covid vaccine: ASX set to open higher

Market Reports

by Rachael Jones

The Australian share market looks set to open higher this morning as US markets see a boost due to promising vaccine news. Johnson & Johnson report they could get trial results of a single-dose Covid-19 vaccine earlier than expected. The UK has rolled out its first vaccine to the public, becoming the first country to inoculate people with a fully-tested jab. The move comes less than a week after emergency-use authorisation was granted for the two-dose vaccine developed by Pfizer and BioNTech.

Economic News

Westpac and the Melbourne Institute publish the December consumer confidence report.

Markets

Wall Street closed higher yesterday: The Dow Jones Industrial Average gained 0.4 per cent to 30174, the S&P 500 added almost 0.3 per cent to 3702 and the NASDAQ closed 0.5 per cent higher at 12583.

European markets closed mixed, London’s FTSE gained nearly 0.1 per cent, Paris shed 0.2 per cent and Frankfurt closed almost 0.1 per cent higher.

Asian markets closed lower, Tokyo’s Nikkei lost 0.3 per cent, Hong Kong’s Hang Seng dipped 0.8 per cent and China’s Shanghai Composite closed 0.2 per cent lower.

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

Yesterday, the Australian share market closed 0.2 per cent higher at 6688.

Company news

Washington H. Soul Pattinson and Company (ASX:SOL) yesterday sold 50 million fully paid ordinary shares in the capital of New Hope Corporation Limited (ASX:NHC). As a consequence, the remaining holding of the Company in New Hope is 43.94 per cent of the issued share capital of New Hope. Shares in Washington H. Soul Pattinson (ASX:SOL) closed 1.3 per cent lower at $29.01

Currencies

One Australian Dollar at 7:15 AM was buying 74.05 US cents, 55.49 Pence Sterling, 77.15 Yen and 61.20 Euro cents.

Commodities

Gold has gained $9.20 to US$1871 an ounce.
Silver was steady at US$24.75 an ounce.
Oil was down $0.03 to US$45.60 a barrel.
Iron Ore futures suggest a 1.4 per cent fall.
 

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