Australian Stock Report - Market Pulse

Morning market update 21 September, 2015

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Publish date: Mon, 21 Sep 2015, 08:35 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 looks set to open lower later this morning, after US and European markets fell on Friday night amid ongoing concerns about global growth.

The September SPI futures contract is down 68 points, at 5064.

In economic news today, the Commonwealth Bank business sales indicator for August is due out.

No major equities news is expected.

Key numbers:

– SPI futures down 68pts to 5064

– AUD at 71.87 US cents, 86.28 Japanese yen, 63.69 Euro cents and 46.25 British pence

– On Wall St, S&P 500 -1.6%, Dow -1.7%, Nasdaq -1.4%

– In Europe, Stoxx 50 -3%, FTSE -1.3%, CAC -2.6%, DAX -3.1%

– Spot gold up $US7.72 or 0.7% to $US1139.23 an ounce

– Iron ore adds 0.6% to $US57.69 per tonne

– Brent crude down $US1.28 or 2.6% to $US47.80 a barrel

What’s on today:

CommBank August business sales index. US August existing home sales

Stocks in focus:

Citi has a ‘neutral’ rating on Seven West Media (SWM) and a $0.85 target price.

UBS has upgraded Rio Tinto (RIO) to a ‘buy’ and has a $61.00 target price.

Credit Suisse has an ‘outperform’ rating on Woodside Petroleum (WPL) and a $34 target price.

Trading ex dividend today:

Seven Group Holdings, MGM Wireless, Drummond Gold, Crowd Mobile.

The post Morning market update 21 September, 2015 appeared first on Market Pulse.

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