Australian Stock Report - Market Pulse

Morning market update - 19 January, 2015

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Publish date: Mon, 19 Jan 2015, 10:17 AM
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Welcome to MarketPulse, the Australian Stock Report's financial market blog. In the MarketPulse blog we aim to provide frequent updates on current events across the financial markets, including market wraps, articles in the news, opinions, reviews, financial education and finally our top tip of the week. The blog is published by the Australian Stock Report research and report editing team together with our very own "Passionate Trader", Carl Capolingua.

The Aussie market appears poised to snap its five session losing streak today, following gains in oil prices and US and European sharemarkets on Friday night.

The March SPI futures contract is up 76 points, at 5307.

Wall Street stocks gained one per cent as oil prices rebounded, snapping a five-day losing streak that had left the equity market looking oversold to some investors.

Key numbers:

 

  • SPI futures up 76pts at 5307.
  • AUD at 82.24 US cents, 96.62 Japanese yen, 71.13 Euro cents and 54.28 British pence
  • On Wall St, S&P 500 +1.3%, Dow +1.1%, Nasdaq +1.4%
  • Wall St will be closed on Monday in the US for a holiday.
  • In Europe, Stoxx 50 +1.4%, FTSE +0.8%, CAC +1.3%, DAX +1.4%
  • Spot gold up $US17.70 or 1.4% to $US1280.45 an ounce.
  • Brent oil up $US1.71 or 3.5% to $US49.98 per barrel.
  • Iron ore is flat at $US68.61 per metric tonne

 

What’s on today:

TD Securities inflation index, December new motor vehicle sales, UK January house prices.

Stocks to watch:

JPMorgan has a ‘neutral’ recommendation on Woodside Petroleum and a $35.06 price target.

Deutsche Bank has a ‘buy’ recommendation on News Corporation and a $23 price target.

On Friday, shares in Beadell surged 10.6pc.

The post Morning market update – 19 January, 2015 appeared first on Market Pulse.

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