Mixed session on Wall Street: ASX poised to open lower

Market Reports

by Rachael Jones

Following mixed  leads from US markets, the Australian share market looks set to open lower. The global aluminium industry must slash greenhouse gas emissions by 77 per cent by 2050 to meet climate change goals, largely through shifting to green electricity according to the International Aluminium Institute. Alibaba’s internet browser has been removed from several app stores in China as the company’s feud with the Chinese government continues.

Local economic news 

WBC leading index February; ABS household impacts of Covid-19 survey.


Wall Street closed mixed yesterday: The Dow Jones Industrial Average lost 0.4 per cent to close at 32,826, the S&P 500 fell 0.2 per cent to 3963 and the NASDAQ closed 0.1 per cent higher at 13,472.

European markets closed higher: London’s FTSE added 0.8 per cent, Paris gained 0.3 per cent and Frankfurt closed 0.7 per cent higher.

Asian markets closed higher: Tokyo’s Nikkei gained 0.5 per cent. Hong Kong’s Hang Seng gained 0.7 per cent and China’s Shanghai Composite closed 0.8 per cent higher.

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

Yesterday, the Australian share market closed 0.8 per cent higher at 6827.

Company news

Fonterra Co-operative Group (ASX:FSF) today announced its 2021 Interim Results and they show the Cooperative has had a positive first half, resulting in a Total Group normalised EBIT of $684 million, normalised Profit After Tax of $418 million and a decision to pay an interim dividend of 5 cents alongside a strong forecast Farmgate Milk Price. Shares in Fonterra Shareholder’s Fund (ASX:FSF) closed 0.21 per cent lower at $4.65 yesterday.


AngloGold Ashanti (ASX:AGG) is paying 9.4949 cents unfranked
Austal Limited (ASX:ASB) is paying 4 cents unfranked
BWX Limited (ASX:BWX) is paying 1 cent fully franked
Earlypay Ltd (ASX:EPY) is paying 1 cent fully franked
Genesis Energy Ltd (ASX:GNE) is paying 7.7963 cents unfranked
Inghams Group (ASX:ING) is paying 7.5 cents fully franked
Medusa Mining Ltd (ASX:MML) is paying 5 cents unfranked
MotorCycle Holdings (ASX:MTO) is paying 10 cents fully franked
Pro-Pac Packaging (ASX:PPG) is paying 0.25 cents fully franked
Turners Automotive Group (ASX:TRA) is paying 5.5827 85 per cent franked


One Australian Dollar at 8:20 AM was buying 77.44 US cents, 55.77 Pence Sterling, 84.44 Yen and 65.09 Euro cents.


Iron Ore has gained 0.5 per cent to US$166.32.
Iron Ore futures suggest a 0.7 per cent gain.
Gold has gained $1.70 to US$1731 an ounce.
Silver has lost $0.28 to US$26.00 an ounce.
Oil has fallen $0.59 to US$64.80 a barrel.

Our investor event is on Mar 23, 5 companies presenting starting 12:30pm details including registration at the link https://www.finnewsnetwork.com.au/page/investor-events.

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