Australian Stock Report - Market Pulse

Morning market update 7 April, 2016

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Publish date: Thu, 07 Apr 2016, 10:12 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 higher later this morning, after Wall Street was bolstered by gains in healthcare shares after the collapse of the $US160 billion merger of Pfizer and Allergan, and by a rise in energy shares overnight.

The SPI futures are up 14 points, at 4946.

In local economic news, the Australian Bureau of Statistics is due to release February's overseas arrivals and departures figures.

The Australian Industry Group/Housing Industry Association's performance of construction index (PCI) for March is also due out. In equities news, Bank of Queensland is expected to post half-year results.

Key numbers:

  • SPI futures up 14pts, at 4946
  • AUD at 76.10 US cents, 83.43 Japanese yen, 66.68 Euro cents and 53.83 British pence
  • On Wall St, late, Dow +0.7%, S&P 500 +1%, Nasdaq +1.6%
  • In Europe, Stoxx 50 +0.7%, FTSE +1.2%, CAC +0.8%, DAX +0.6%
  • In London, BHP -0.3%, Rio +0.4%
  • Spot gold -0.6% to $US1223.93 at 2.33pm New York time
  • Brent crude +4.6% to $US39.61 at 2.08pm New York time

What’s on today:

US Federal Reserve chair Janet Yellen joins former Fed chiefs Ben Bernanke, Alan Greenspan and Paul Volcker in New York for a panel discussion. ECB president Mario Draghi attends a meeting of Portuguese President Marcelo Rebelo de Sousa’s Council of State. The ECB publishes an account of its March 10 monetary policy meeting. Zhou Xiaochuan, governor of the People’s Bank of China, is among attendees at the annual meeting of the Inter-American Development Bank in Nassau, Bahamas. Bank of Japan governor Haruhiko Kuroda speaks at the quarterly meeting of the central bank’s branch managers.

Overseas data: China foreign exchange reserves (March), UK Halifax house prices (March), Swiss foreign-currency reserves (March), US jobless claims (weekly), US consumer credit (Feb.)

Overseas earnings: ConAgra Foods, Rite Aid, Cargill, Fast Retailing Co., Seven & I Holdings, Chr. Hansen Holding A/S.

The post Morning market update 7 April, 2016 appeared first on Market Pulse.

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