French president contracts coronavirus: Aus shares to open flat

Aussie shares are set for a flat start despite US stocks edging to record highs overnight. US jobless claims came in higher than expected, however investors took this in their stride. The market seems to assume that the unexpectedly high jobless claims may force the 2 major political parties into finally agreeing on a Covid stimulus deal which would bolster the market. French president, Emmanuel Macron has tested positive for the coronavirus. Meanwhile, oil held gains despite a surprise decline in US crude inventories. Iron ore, gold and oil are all tracking higher.


To the figures from around the globe: Wall Street closed higher yesterday: The Dow Jones Industrial Average added 0.5 per cent to 30,303 the S&P 500 gained 0.6 per cent to 3722 and the NASDAQ closed 0.8 per cent higher at 12,765.

European markets closed mixed, London’s FTSE lost 0.3 per cent, Paris added 0.03 per cent and Frankfurt closed 0.8 per cent higher.

Asian markets closed higher, Tokyo’s Nikkei added 0.2 per cent, Hong Kong’s Hang Seng gained 0.8 per cent and China’s Shanghai Composite closed 1.1 per cent higher.

Taking all of this into equation, the SPI futures are pointing to a flat start

Yesterday, the Australian share market closed 1.2 per cent higher at 6757.

Company news

Infratil (ASX:IFT) has penned an agreement to buy up to 60 per cent of Qscan Group Holdings. It will buy the shares from Quadrant Private Equity and existing doctor and management shareholders. It’s set to pay up to $330 million. It confirmed that its has now satisfied the last condition of the transaction, by securing Foreign Investment Review Board approval. Completion is expected to occur on 22 December 2020. Shares in Infratil (ASX:IFT) closed 1.05 per cent lower at $6.58 yesterday.

Ex dividend

Contrarian Value Fund (ASX:CVF) is paying 9 cents 95.53 per cent franked.


One Australian Dollar at 8:10 AM was buying 76.22 US cents, 56.18 Pence Sterling, 78.61 Yen and 62.16 Euro cents.


Iron Ore has gained 1.3 per cent to US$158.49.
Iron Ore futures suggest 2.9 per cent gain.
Gold has added $30.20 to US$1889 an ounce.
Silver was up $1.10 to US$26.15 an ounce.
Oil was up $0.62 to US$48.44 a barrel.