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Overseas Market Report

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Overseas Market Report - International Markets Roundup

Wednesday 17 January 2018 | Close

NEW YORK [Morningstar with AAP]: Wall Street's main indexes have all risen more than one per cent - with the Dow again above the 26,000 mark - as investors' expectations for higher earnings lift stocks across sectors.

Wednesday 17 January 2018 | Close

Foreign Equities Close Change %Change
Dow Jones (US) 26116 323 1.25
S&P 500 2803 26 0.94
NASDAQ 7298 75 1.03
FTSE 100 Index 7725 -30 -0.39
DAX 30 13184 -62 -0.47
CAC 40 5494 -20 -0.36
Nikkei 225 (Japan) 23868 -83 -0.35
HKSE 31983 79 0.25
SSE Composite Index 3445 8 0.23
NZ 50 8298 47 0.57

Wednesday 17 January 2018 | Close

Commodities US$ Close Change %Change
Aluminium /t 2193 13 0.57
Copper /t 6994 -41 -0.59
Nickel /t 12351 -131 -1.05
Gold /oz 1328 -7 -0.55
Silver /oz 17.0 -0.2 -0.96
Oil - West Texas crude /bbl 64.0 0.2 0.38
Lead /t 2541 -1 -0.04
Zinc /t 3408 -42 -1.21

Wednesday 17 January 2018 | Close

Currency Close Pts Change % Change
$A vs $US 0.7986 0.0016 0.20
$A vs GBP 0.5768 -0.0005 -0.09
$A vs YEN 88.85 0.87 0.99
$A vs EUR 0.6542 0.0050 0.78
$A vs $NZ 1.0962 0.0006 0.05
$US vs Euro 0.8192 0.0043 0.53
$US vs UK 0.7222 -0.0023 -0.32
$US vs CHF 0.9635 0.0045 0.47

NEW YORK [Morningstar with AAP]: Wall Street's main indexes have all risen more than one per cent - with the Dow again above the 26,000 mark - as investors' expectations for higher earnings lift stocks across sectors.

The S&P 500 has rallied strongly in the new year, gaining 4.8 per cent so far and posting only two sessions of losses. The Dow, after briefly hitting the 26,000 milestone on Tuesday, its fastest 1000-point rise, looks set to close above that mark for the first time.

More than three-quarters of the 36 S&P 500 companies that have reported so far have topped earnings estimates, according to Thomson Reuters.

In late afternoon trading (1517 EST/0717 AEDT), the Dow Jones Industrial Average was up 1.17 per cent to 26,095.48, the S&P 500 had gained 1.03 per cent to 2,805.12 and the Nasdaq Composite had added 1.14 per cent to 7,305.76.

LONDON: UK shares edged down on Wednesday as a flurry of corporate news triggered sharp moves, including for contractor Interserve after the Financial Times reported the British government was monitoring it following the collapse of competitor Carillion.

The blue chip FTSE 100 index ended the session 0.39 per cent lower at 7,725.43 points, underperforming the broader European market.

Within small market capitalisations, Interserve saw its shares tumble around 15 per cent at the open then gradually recouped most of its losses, closing 0.4 per cent lower.

European bourses opened lower, mirroring moves in Asia and Wall Street overnight, as earnings updates from companies weighed.

Luxury fashion brand Burberry and educational publishing company Pearson were among the top fallers after disappointing trading updates.

Their losses, along with weakness in the heavyweight financial and healthcare sectors, dragged the pan-European STOXX 600 while Germany's DAX closed 0.47 per cent lower at 13,183.96.

TOKYO: Asian equities stepped back from a record high as the region's resource shares were knocked by falling oil and commodity prices.

Around the region, MSCI's Asia ex-Japan stock index was weaker by 0.07 per cent while Japan's Nikkei 225 index closed down 0.35 per cent at 23,868.34.

Hong Kong's Hang Seng Index rose to a fresh closing peak on Wednesday, aided by continued strength in index heavyweight Hong Kong Exchanges and Clearing (HKEx) which jumped more than 2 per cent to 2-1/2-year highs.

The Hang Seng index closed up 0.25 per cent at 31,983.41. The Hang Seng China Enterprises index rose 0.64 per cent to 12,868.78.

China's main Shanghai Composite index closed up 0.24 per cent at 3,444.67 points while its blue-chip CSI300 index fell 0.24 per cent to 4,248.12.

WELLINGTON: The S&P/NZX50 Index rose 0.6 per cent to 8,297.67.

Australian Market

Local Markets Are Expected to Open Higher

Ahead of the local open SPI futures were 9 points higher at 5,969.

Wednesday 17 January- close [Morningstar with AAP]: The Australian share market has closed lower, with the materials sector heavily sold down on shifting commodity prices and expectations of a correction.

The benchmark S&P/ASX200 index was down 0.54 per cent, at 6,015.8 points at 1630 AEDT on Wednesday, with the materials sector down more than two per cent.

A retreat in commodity prices triggered losses for BHP Billiton and Rio Tinto, down 2.9 per cent to $30.74 and 3.5 per cent to $78.45, after both miners lost three per cent each on the London exchange overnight.

Macquarie Private Wealth division director Martin Lakos said traders had been anticipating a correction in the mining sector but any fall was likely to be short-lived.

"That materials space has been the outstanding, outperforming sector for the Aussie market - but whether its three per cent or 10 per cent - any correction is likely to be short-lived and shallow when the broad backdrop of fundamentals is in good shape," Mr Lakos said.

Fortescue Metals dropped three per cent and the gold miner Newcrest Mining lost 0.6 per cent.

Diversified miner South32 dropped 1.5 per cent to $3.92 despite showing a solid first half and maintaining full-year guidance for most of its businesses, except for its South African manganese production where it flagged an improvement.

In other company news, A2 Milk announced it will expand its US presence to north-eastern states and its shares gained 2.4 per cent to $7.60.

Rival infant formula maker Bellamy's Australia continued to gain ground after upgrading its full-year profit expectations on Tuesday, with the stock advancing 5.9 per cent to $14.48.

Sirtex Medical climbed 13.9 per cent to $17.83 after the cancer specialist announced a lift in expected first-half earnings and higher second-half sales.

A retreat in global oil prices from recent highs left local energy producers mixed, with Origin Energy up 0.4 per cent at $9.19, Woodside Petroleum down 0.5 per cent at $33.66 and Santos 0.8 per cent lower at $5.29.

The big four banks were lower at the close: ANZ down 0.3 per cent and National Australia Bank, Westpac and Commonwealth Bank all 0.6 per cent lower.

The Australian dollar had a brief gain after the release of ABS data showing a better-than-expected 2.3 per cent rise in home loan approvals for November but pulled back and at 1630 AEDT was trading at 79.51 US cents, from 79.64 US cents on Tuesday.

ON THE ASX:

The benchmark S&P/ASX200 index closed down 32.8 points, or 0.54 per cent, at 6,015.8 points

The broader All Ordinaries index was down 31.6 points, or 0.51 per cent, at 6,134.3 points

National turnover was 4.6 billion securities traded worth $5.8 billion.

Annual General Meetings today (ASX 300)

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Companies trading ex-dividend next business day (ASX 300)

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