Australian Stock Report - Market Pulse

Morning market update - 2 April, 2015

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Publish date: Thu, 02 Apr 2015, 09:37 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 Australian market will open lower later this morning, after falls on Wall Street overnight where healthcare and industrial stocks retreated.

The June SPI futures contract is down 37 points, at 5849.

In local economic news today, the Reserve Bank of Australia releases its index of commodity prices for March and the Australian Bureau of Statistics posts building approvals data, also for March.

The Australian Industry Group performance of manufacturing (PMI) index is due out, as is the RP Data Core Logic Home Value Index.

In equities news, technology firm Aeeris (AER), which owns severe weather and emergency alert system The Early Warning Network, lists on the ASX.

Key numbers:

 

  • SPI futures down 37 points to 5849
  • AUD at 76.13 US cents, 91.34 Japanese yen, 70.88 Euro cents and 51.27 British pence
  • In late trade, S&P 500 -0.9%, Dow -0.9%, Nasdaq -0.9%
  • In Europe, Stoxx 50 -0.8%, FTSE -1.7%, CAC -1%, DAX -1%
  • Spot gold down $US1.97 or 0.2% to $US1184.10 an ounce
  • Brent oil down $US1.26 or 2.2% to $US55.03 a barrel

What’s on today:

 

Australia building approvals, monthly home prices, performance of manufacturing, commodity prices; Japan Tankan manufacturing data; China HSBC manufacturing PMI; US ISM manufacturing, non-farm employment changes.

Stocks to watch:

Trading ex dividend today: Clime Capital, GBST Holdings, Recall Holdings, STW Communications, Southern Cross Media.

Macquarie Wealth Management is maintaining an “underperform” rating on Caltex Australia and a $30 a share target price.

Hartleys Research has a “buy” on Sirius Resources and a price target of $3.95 a share.

The post Morning market update – 2 April, 2015 appeared first on Market Pulse.

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