Australian Stock Report - Market Pulse

Morning market update 10 May, 2016

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Publish date: Tue, 10 May 2016, 09:34 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 Australian market looks set to open lower after a mixed performance on Wall Street following a bigger-than-expected drop in China's imports and exports in April pointed to weak demand in the world's second-biggest economy and weighed on materials stocks.

The SPI is down 16 points, at 5296.

Locally, in economic news, the ANZ-Roy Morgan weekly consumer confidence survey comes out.

In equities news, Incitec Pivot is slated to post half-year results.

Key Numbers:

  • The SPI is down 16 points this morning, at 5296.
  • AUD at 73.12 US cents, 79.27 Japanese yen, 64.27 Euro cents and 50.76 British pence
  • On Wall St Dow -0.2%, S&P 500 +0.1%, Nasdaq +0.3%
  • In Europe, Stoxx 50 +0.7%, FTSE -0.2%, CAC +0.5%, DAX +1.1%
  • In London, Anglo -14%, Glencore -9%, Rio -7.9%, BHP -6.1%
  • Spot gold -1.9% to $US1264.79 ounce at 1.37pm New York time
  • Brent crude -3.2% to $US43.94 barrel at 1.12pm New York time
  • Iron ore -5.7% to $US54.99 a tonne

What’s on today

Local data: None, RBNZ governor Graeme Wheeler speech, RBNZ financial stability report

Local earnings: Incitec Pivot

Overseas data: China consumer prices, producer prices April, China new lending, money supply April; German industrial production March, French industrial output March, Italy industrial output March, UK March trade, US wholesale inventories March

Earnings: Norwegian Cruise Line Holdings, Lumber Liquidators, TransDigm Group, Electronic Arts, Allergan, Walt Disney, Sun Life Financial, George Weston, Kinross Gold, Grupo BTG Pactual, Credit Suisse Group, Nokia, ING Groep, thyssenkrupp, Mediaset, Alcatel-Lucent, Mediobanca, Banco Poplare di Milano, easyJet, Poste Italiane, Banco Popolare

The post Morning market update 10 May, 2016 appeared first on Market Pulse.

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