Australian Stock Report - Market Pulse

Morning market update - 16 March, 2015

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Publish date: Mon, 16 Mar 2015, 09:01 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 is poised to open lower later this morning, after Wall Street fell on Friday night amid renewed anxiety over falling oil prices and the rising US dollar.

The March SPI futures contract is down 20 points, at 5791.

In local economic news today, Reserve Bank of Australia assistant governor for financial markets Guy Debelle is slated to deliver a speech at the KangaNews DCM Summit.

The Australian Bureau of Statistics releases new motor vehicles sales for February while the Women on Boards 2015 Boardroom Diversity Index is also due out.

In equities news, Retail Food Group has an extraordinary general meeting to vote on the acquisitions of Di Bella Coffee and Gloria Jeans Coffee.

Key numbers:

 

  • SPI futures down 20pts at 5791
  • AUD at 76.36 US cents, 92.56 Japanese yen, 72.74 Euro cents and 51.67 British pence
  • On Wall St, S&P 500 -0.6%, Dow -0.8%, Nasdaq -0.4%
  • In Europe, Stoxx 50 +0.4%, FTSE -0.3%, CAC +0.5%, DAX +0.9%
  • Spot gold down $US4.76 or 0.4% to $US1158.49 an ounce.
  • Brent oil slumped $US2.41 cents or 4.2% to $US54.76 per barrel.
  • Iron ore slipped 0.5% to $US57.66 per tonne

 

What’s on today:

Australia new car sales, speech by Reserve Bank of Australia assistant governor Guy Debelle;

US Empire State manufacturing data, US industrial production,

EU finance ministers meet in Brussels, Lindt results.

Stocks to watch:

The following shares will trade ex-dividend today: Breville, CSL, DWS, GR Engineering, IOOF, Leighton Holdings, Lindsay Australia, Royal Wolf Holdings, Skilled Group, Supply Network, UXC, Village Roadshow.

Deutsche Bank is keeping a “buy” on Whitehaven Coal and a target price of $2.15 a share. RBC Capital Markets has a “sector perform” on Whitehaven Coal with a price target of $1.80 a share.

Macquarie Wealth Management has an “outperform” on Monash IVF Group with a 12-month price target of $1.80 a share.

The post Morning market update – 16 March, 2015 appeared first on Market Pulse.

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