S&P500 and the Dow reset record highs: Aus shares set to open higher

Market Reports

by Katrina Bullock

The SPI indicates that the Aussie market will rise at the open. This follows a broad rally on Wall Street, bolstered by tech stocks which boosted the S&P500 and the Dow to new record highs. The markets were flush with positive sentiment after US President Joe Biden signed the $1.9 trillion coronavirus relief package on Thursday afternoon. Meanwhile, the European Central Bank signalled overnight that it will ramp up bond buying to tackle surging yields.

Markets

To the figures from around the globe: Wall Street closed higher yesterday: The Dow Jones Industrial Average gained 0.6 per cent to 32,486, the S&P 500 added over 1 per cent to 3939 and the NASDAQ closed 2.5 per cent higher at 13,399.

European markets closed higher, London’s FTSE gained 0.2 per cent, Paris added 0.7 per cent and Frankfurt closed 0.2 per cent higher.

Asian markets closed higher, Tokyo’s Nikkei added 0.6 per cent, Hong Kong’s Hang Seng gained 1.7 per cent and China’s Shanghai Composite closed 2.4 per cent higher.

Taking all of this into equation, the SPI futures are pointing to a 0.6 per cent gain.

Yesterday, the Australian share market closed flat at 6714.

Company news

CHAB Office Trust, which is part owned by Charter Hall Group (ASX:CHC) and Abacus Property Group (ASX:ABP) is set to buy 241 Adelaide Street, Brisbane. The consortium is set to pay $31.5 million to Australian Unity Office Fund (ASX:AOF). 241 Adelaide Street is a leasehold asset with approximately 42 years remaining on the ground lease to the Brisbane Club. The consortium has simultaneously entered into a conditional contract with the Brisbane Club to acquire the freehold interest for $32 million, subject to a lease back of up to 5 years plus options. Both transactions are expected to settle prior to 30 June 2021. Shares in Charter Hall Group (ASX:CHC) closed 0.59 per cent lower at $11.82 yesterday.

Ex-dividends

Base Resources (ASX:BSE) is paying 3 cents unfranked
Cardno (ASX:CDD) is paying 1.5 cents 60 per cent franked
Contact Energy (ASX:CEN) is paying 12.3486 cents unfranked
Civmec (ASX:CVL) is paying 1 cent fully franked
Dusk Group (ASX:DSK) is paying 15 cents fully franked
Grange Resources (ASX:GRR) is paying 2 cents fully franked
National Tyre & Wheel (ASX:NTD) is paying 3 cents fully franked
Tassal Group (ASX:TGR) is paying 7 cents unfranked
Wisetech Global (ASX:WTC) is paying 2.7 cents fully franked

Currencies

One Australian Dollar at 8:20 AM was buying 77.89 US cents, 55.65 Pence Sterling, 84.48 Yen and 64.69 Euro cents.

Commodities

Iron Ore has gained 3.7 per cent to US$170.70
Iron Ore futures suggest 2.9 per cent gain.
Gold has gained $0.80 to US$1722.60 an ounce.
Silver was up $0.09 to US$26.22 an ounce.
Oil was up $1.69 to US$66.13 a barrel.