Upbeat Chinese & US data stimulate investor appetite: Aus shares to open higher

Market Reports

by Michael Luu

The Australian sharemarket is poised to advance at the open, stimulated by strong leads from the US and China and soaring base metals prices. The number of initial claims for unemployment benefits in the US continued to reset its post-pandemic low last week, dropping 34,000 week on week. The news enticed investor appetite to wager on a strengthening economic recovery, as Boeing shares surged 3.9 per cent. Beijing reported a 57 per cent hike year on year in industrial profits, leading to higher closes for mainland China’s benchmark indices.

To the figures from around the globe

Wall Street closed mixed yesterday: The Dow Jones Industrial Average gained 0.4 per cent to 34,465. The S&P 500 added 0.1 per cent to close at 4201. The Nasdaq closed 0.01 per cent lower to 13,736.

European markets closed mixed, London’s FTSE lost 0.1 per cent, Paris gained 0.7 per cent and Frankfurt closed 0.3 per cent lower.

Asian markets closed mixed, Tokyo’s Nikkei lost 0.3 per cent, Hong Kong’s Hang Seng fell 0.2 per cent and China’s Shanghai Composite closed 0.4 per cent higher.

ASX futures

­Taking all of this into equation, the SPI futures are pointing to a 0.8 per cent gain.

ASX 200

Yesterday, the Australian share market closed 2 points higher at 7095.

Company news

Private medical services provider Ramsay Health Care (ASX:RHC) has tabled a $1.8 billion offer to fully acquire British counterpart Spire Healthcare, in a bid to ramp up the company’s footprint in the UK. If successful, the purchase of Spire’s 39 private hospitals would increase Ramsay’s hospitals portfolio in Great Britain by two times to 73 facilities. This would effectively position Australia’s largest operator of private hospitals among the top tier of the private healthcare industry in the UK by boosting its UK market share to 25 per cent. The company anticipates a surge in demand for more diverse health care options in the post-pandemic market of the UK. Ramsay’s bid for 100 per cent of its UK rival represents an offer of $4.40 cents for each share. Shares in RHC closed 3.5 per cent lower at $62.30

Ex – Dividends:

Aristocrat Leisure (ASX:ALL) is paying 15 cents fully franked
CSR Limited (ASX:CSR) is paying 24 cents fully franked
Gryphon Capital Income Trust (ASX:GCI) is paying 0.77 cents unfranked
Perpetual Credit Income Trust (ASX:PCI) is paying 0.3253 cents unfranked
Pengana International Equities Ltd (ASX:PIA) is paying 1.25 cents fully franked
Qualitas Real Estate Income Fund (ASX:QRI) is paying 0.8176 cents unfranked
360 Capital Enhanced Income Fund (ASX:TCF) is paying 3 cents unfranked

Turning to currencies

One Australian Dollar at 7:40 AM was buying 77.41 US cents, 54.51 Pence Sterling, 85.03 Yen and 63.47 Euro cents.

To Commodities

Iron Ore has lost 1.6 per cent to US$189.73.
Iron Ore futures are pointing to 4.1 per cent gain.
Gold has lost $5.30 to US$1899 an ounce.
Silver has gained $0.06 to US$27.94 an ounce.
Oil was up $0.64 to US$66.85 a barrel. 



 

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