Australian Stock Report - Market Pulse

Morning market update 11 September, 2015

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Publish date: Fri, 11 Sep 2015, 08:48 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.

Aussie market is poised to start on a positive note this morning, following solid gains on Wall Street overnight.

Apple and some other technology stocks led the upward move ahead of next week’s hotly anticipated Federal Reserve monetary policy meeting.

The September SPI futures contract is up 23 points, at 5101.

In local economic news today, the Australian Bureau of Statistics releases lending finance figures for July.

No major equities news is expected.

Key numbers:

  • SPI futures up 23pts at 5101
  • AUD at 70.76 US cents, 85.30 Japanese yen, 62.68 Euro cents and 45.78 British pence
  • On Wall St, S&P 500 +0.5%, Dow +0.5%, Nasdaq +0.8%
  • In Europe, Stoxx 50 -1.5%, FTSE -1.2%, CAC -1.5%, DAX -0.9%
  • Spot gold up $US2.85 or 0.3% to $US1110.70 an ounce
  • Iron ore adds 1.4% to $US59.01 per tonne
  • Brent crude up $US1.16 or 2.4% to $US48.74 a barrel

What’s on today:

Australia lending finance; US consumer sentiment

Stocks in focus

Deutsche Bank has a “hold” on WorleyParsons and a target price of $8.73 a share.

Credit Suisse has an “outperform” on Transurban with an $11 price target.

Trading ex dividend today: AMA Group, Ariadne Australia, Bendigo Community Telco, Codan, Homeloans, Lindsay Australia, Lovisa, Macquarie Telecom Group, Melbourne IT, Pacific Smiles, SmartGroup, Steadfast.

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