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Overseas Market Report

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Overseas Market Report - International Markets Roundup

Wednesday 15 August 2018 | Close

NEW YORK [Morningstar with AAP]: Wall Street has fallen in a day of heavy trading, with the S&P 500 posting its biggest percentage drop since late June as investors turned risk-averse on disappointing earnings and escalating global tariff worries.

Wednesday 15 August 2018 | Close

Foreign Equities Close Change %Change
Dow Jones (US) 25162 -138 -0.54
S&P 500 2818 -22 -0.76
NASDAQ 7774 -97 -1.23
FTSE 100 Index 7498 -114 -1.49
DAX 30 12163 -196 -1.58
CAC 40 5305 -98 -1.82
Nikkei 225 (Japan) 22204 -152 -0.68
HKSE 27324 -429 -1.55
SSE Composite Index 2723 -58 -2.08
NZ 50 8987 16 0.17

Wednesday 15 August 2018 | Close

Commodities US$ Close Change %Change
Aluminium /t 1998 -48 -2.35
Copper /t 5759 -250 -4.16
Nickel /t 12754 -574 -4.31
Gold /oz 1175 -6 -0.49
Silver /oz 14.4 -0.6 -3.87
Oil - West Texas crude /bbl 65.0 -2.0 -3.03
Lead /t 1901 -149 -7.29
Zinc /t 2284 -154 -6.34

Wednesday 15 August 2018 | Close

Currency Close Pts Change % Change
$A vs $US 0.7237 0.0006 0.08
$A vs GBP 0.5701 0.0016 0.27
$A vs YEN 80.14 -0.33 -0.41
$A vs EUR 0.6380 0.0004 0.07
$A vs $NZ 1.1017 0.0014 0.13
$US vs Euro 0.8813 -0.0001 -0.01
$US vs UK 0.7876 0.0014 0.18
$US vs CHF 0.9933 -0.0006 -0.06

NEW YORK [Morningstar with AAP]: Wall Street has fallen in a day of heavy trading, with the S&P 500 posting its biggest percentage drop since late June as investors turned risk-averse on disappointing earnings and escalating global tariff worries.

Chinese technology company Tencent Holdings Ltd reported its first profit decline in almost 13 years, putting pressure on the US tech sector.

Technology stocks were the biggest drag on the S&P 500 and the Nasdaq, with the S&P 500 technology index down 1.1 per cent.

Retail shares fell as Macy's Inc stock tumbled 15.9 per cent after margin fears spooked investors, overshadowing its stronger-than-expected sales and earnings.

"There was a lot of optimism heading into retail earnings," said JJ Kinahan, chief market strategist at TD Ameritrade in Chicago.

Macy's results have "taken an edge off that optimism," he added.

Second-quarter U.S. earnings have mostly been stronger than expected, with 79.1 per cent beating analyst expectations, according to Thomson Reuters I/B/E/S.

The trade fracas heated up as Turkish President Tayyip Erdogan doubled tariffs on some US imports, and China lodged a complaint with the World Trade Organisation against American trade policies.

The tariff-sensitive industrial sector slipped 0.5 per cent, with Caterpillar Inc and Boeing Co weighing on the Dow.

The S&P 500 energy index dropped 3.5 per cent as a fall in crude prices was exacerbated by an unexpected surge in US stockpiles.

Metals prices fell, dragging down the materials sector, which ended down 1.6 per cent. The S&P 1500 metals and mining index was down 4.8 per cent.

The Dow Jones Industrial Average fell 137.51 points, or 0.54 per cent, to 25,162.41, the S&P 500 lost 21.59 points, or 0.76 per cent, to 2,818.37 and the Nasdaq Composite dropped 96.78 points, or 1.23 per cent, to 7,774.12.

Australian Market

Local Markets Are Expected to Open Lower

Ahead of the local open SPI futures were 53 points lower at 6,241.

Wednesday 15 August - close [Morningstar with AAP]: Australian shares have hit a fresh ten-year high, with a surge in CSL stocks and gains for Wesfarmers helping the market overcome falls in energy and materials stocks.

The benchmark S&P/ASX200 closed up 29.4 points, or 0.47 per cent, at 6,329.0 points, while the All Ordinaries was up 29.5 points, or 0.46 per cent, at 6,415.7 points.

CSL Ltd, the fifth-largest company on the ASX, posted a near 30 per cent rise in annual net profit on Wednesday.

The news drove CSL shares up $12.89 - a 6.4 per cent gain that took the stock to a record close of $214.58 and helped push the wider healthcare sector index to a record high.

Wesfarmers posted record earnings in its core divisions, sending its shares 3.2 per cent higher to $52.20.

Insurance Australia Group dipped 5.8 per cent to a near four-month low of $7.76 after the insurer flagged a subdued earnings outlook and reported a modest rise in full-year profit, driven by lower investment income.

Commonwealth Bank also weighed on the financial index after trading ex-dividend.

Materials stocks lost ground, underpinned by lower base metals prices and a fall in Chinese iron ore futures.

Global miner BHP slipped 0.4 per cent to $33.70, while Rio Tinto dipped 0.7 per cent to $73.75.

Media group Fairfax Media swung to an annual net loss of $63.8 million, hurt by significant items totalling $188.7 million related to impairment charges at Australian Community Media and New Zealand's Stuff, as well as restructuring and redundancy costs.

Fairfax closed 1.7 per cent lower at 87.5 cents.

The Australian dollar was at 72.19 US cents, down from 72.77 US cents on Tuesday, affected by global trade worries and local data showing annual wages growth remains at a low 2.1 per cent.

The NZX 50 gained 15.55 points (0.17%) to 8,987.49 while the Nikkei lost 151.86 points (-0.68%) to be closed at 22,204.22.

ON THE ASX:

The S&P/ASX200 closed up 29.4 points, or 0.47 per cent, at 6,329.0 points

The All Ordinaries was up 29.5 points, or 0.46 per cent, at 6,415.7 points.

Annual General Meetings today (ASX 300)

  • Xero Limited

Companies trading ex-dividend today (ASX 300)

  • GUD Holdings Limited
  • Navigator Global Investments Limited

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

  • Domain Holdings Australia Limited

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