Australian Stock Report - Market Pulse

Morning market update 30 July, 2015

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Publish date: Thu, 30 Jul 2015, 08:34 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 set to open higher later this morning after another positive session on Wall Street overnight.

The Dow Jones rose 0.7% after the US Federal Reserve kept its benchmark interest rate at near-zero per cent and gave no fresh clues on the timing of a long-awaited rate hike.

The September SPI futures contract is up 30 points, at 5603.

In local economic news, Reserve Bank governor Glenn Stevens is speaking at the Boao Forum for Asia Financial Cooperation Conference in Sydney.

The Australian Bureau of Statistics will release international trade price indexes for June quarter and building approvals numbers for June.

In company news, Sunbeam kitchen appliance marketer GUD Holdings releases its full year results, Energy Resources of Australia releases its half year results and lab testing group ALS holds its annual general meeting.

Key numbers:

– SPI futures up 34pts at 5607

– AUD at 72.91 US cents

– On Wall St, S&P 500 +0.7%, Dow +0.7%, Nasdaq +0.4%

– In Europe, Stoxx 50 +0.6%, FTSE +1.2%, CAC +0.8%, DAX +0.3%

– Spot gold up $US2.08 or 0.2% to $US1097.56 an ounce

– Brent crude up 32 US cents or 0.6% to $US53.62 a barrel

What’s on today:

Australia import and export prices, building approvals, Eurozone consumer confidence, US Federal Reserve meeting, economic growth

Stocks in focus:

Deutsche Bank has a “buy” on Iluka Resources with a price target at $8.90 a share.

The post Morning market update 30 July, 2015 appeared first on Market Pulse.

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