Australian Stock Report - Market Pulse

Morning market update 14 April, 2016

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Publish date: Thu, 14 Apr 2016, 08:44 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 looks set to extend its recent gains on the open this morning, following better-than-expected trade figures out of China which boosted markets worldwide, and better-than-expected numbers from J.P. Morgan which lit a fire under U.S. financial stocks.

The SPI is up 40 points, at 5077.

In local economic news today, the Australian Bureau of Statistics releases labour force data for March.

In equities news, Bendigo and Adelaide Bank is slated to give a strategy update.

Key numbers:

  • SPI futures up 40pts or 0.8% to 5077 at 7:35am Sydney time
  • AUD at 76.51 US cents, 83.66 Japanese yen, 67.88 Euro cents and 53.89 British pence
  • On Wall St, Dow +1.1%, S&P 500 +1%, Nasdaq +1.6%
  • In Europe, Stoxx 50 +3.3%, FTSE +1.9%, CAC +3.3%, DAX +2.7%
  • In London, Anglo +11.1%, BHP +9.2%, Rio +7.6%, Glencore +6.7%
  • Spot gold -0.7% at $US1246.47 at 2.04pm New York time
  • Brent crude -1.3% to $US44.11 at 3.33pm New York time
  • Iron ore +2.1% to $US60.48

What’s on today:

Prime Minister Malcolm Turnbull arrives in China for his first state visit, amid rising tension at home over China’s growing economic influence in the country. He departs on Friday.

Local data: Labour Force for Feb at 11.30am, NZ manufacturing PMI for March

International Monetary Fund Managing Director Christine Lagarde holds a press briefing after the IMF releases its updated Global Policy Agenda. Bank of England releases its latest interest rate decision, amid signs of a slowing economy and the pending June 23 referendum on continued UK membership in the European Union. Fed speakers: Atlanta chief Dennis Lockhart, Governor Jerome Powell

Overseas data: Singapore 1st-Qtr GDP; South Africa mining production (Feb.); Euro-area CPI (March); UK RICS house prices (March); US consumer prices (March), US jobless claims (weekly).

Overseas earnings: BlackRock, Bank of America, Wells Fargo & Co, PNC Financial Services Group, Delta Air Lines, Casino Guichard-Perrachon.

The post Morning market update 14 April, 2016 appeared first on Market Pulse.

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