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Overseas Market Report

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Overseas Market Report - International Markets Roundup

Thursday 18 January 2018 | Close

NEW YORK [Morningstar with AAP]: Losses in healthcare and industrial stocks have paused Wall Street's fervent new year rally that has driven the blue-chip Dow index to its fastest ever 1,000 point rise.

Thursday 18 January 2018 | Close

Foreign Equities Close Change %Change
Dow Jones (US) 26018 -98 -0.37
S&P 500 2798 -5 -0.16
NASDAQ 7296 -2 -0.03
FTSE 100 Index 7701 -24 -0.32
DAX 30 13281 97 0.74
CAC 40 5495 1 0.02
Nikkei 225 (Japan) 23763 -105 -0.44
HKSE 32122 139 0.43
SSE Composite Index 3475 30 0.87
NZ 50 8273 1 0.01

Thursday 18 January 2018 | Close

Commodities US$ Close Change %Change
Aluminium /t 2244 51 2.33
Copper /t 7032 38 0.54
Nickel /t 12421 70 0.56
Gold /oz 1327 -2 -0.13
Silver /oz 16.9 -0.1 -0.39
Oil - West Texas crude /bbl 64.0 -0.0 -0.03
Lead /t 2606 65 2.57
Zinc /t 3400 -8 -0.23

Thursday 18 January 2018 | Close

Currency Close Pts Change % Change
$A vs $US 0.7996 0.0025 0.31
$A vs GBP 0.5753 -0.0010 -0.17
$A vs YEN 88.80 0.03 0.03
$A vs EUR 0.6532 -0.0011 -0.17
$A vs $NZ 1.0967 0.0017 0.15
$US vs Euro 0.8167 -0.0040 -0.48
$US vs UK 0.7195 -0.0035 -0.49
$US vs CHF 0.9586 -0.0062 -0.65

NEW YORK [Morningstar with AAP]: Losses in healthcare and industrial stocks have paused Wall Street's fervent new year rally that has driven the blue-chip Dow index to its fastest ever 1,000 point rise.

The S&P healthcare index fell 0.47 per cent, mostly due to losses in Merck J&J and Pfizer.

A 2.4 per cent drop in Boeing's high-flying stock kept the Dow in the red until late in the US trading session - a day after the index closed above the 26,000 mark for the first time.

Morgan Stanley wrapped up earnings season for the big US banks with a better-than-expected quarterly profit, driving modest gains in its shares.

Alcoa tumbled 8 per cent after the aluminum producer's earnings missed analysts' estimates.

In late afternoon trading (0716 Friday AEDT), the Dow Jones Industrial Average was down 0.20 per cent, at 26,064.42, the S&P 500 was up 0.04 per cent at 2,803.57, and the Nasdaq Composite was up 0.14 per cent at 7,308.71.

LONDON: European shares notched up modest gains on Thursday, led higher by a fresh rise for so-called cyclical stocks while company updates and ratings changes from brokers spurred moves among individual names.

The pan-European STOXX 600 was up 0.2 per cent at its close.

In Frankfurt, German chipmaker Infineon led the DAX higher, adding 5.6 per cent after getting a rating upgrade from Goldman Sachs, while SocGen began its coverage of the stock with a "buy" rating.

The DAX closed up 0.74 per cent at 13,281.43.

Britain's blue-chip index fell, led lower by utilities and a decline for Associated British Foods after warning that profit at its sugar business would fall more than previously forecast.

The FTSE ended 0.32 per cent down at 7,700.96 points and the mid-cap index finished with a 0.5 per cent fall.

TOKYO: The first acceleration by China's giant economy in seven years kept stocks near record highs on Thursday.

Underlining the momentum of the world economic expansion into the back end of last year, both Chinese fourth quarter growth of 6.8 per cent and December industrial output growth of 6.2 per cent were ahead of expectations.

Most Asian bourses were closing when the data landed but had briefly set a new an all-time record after the US bluechip Dow Jones Industrial index had closed above 26,000 points for the first time.

Around the region, MSCI's Asia ex-Japan stock index was firmer by 0.21 per cent while Japan's Nikkei index closed down 0.44 per cent at 23,763.37.

Hong Kong stocks rose to a fresh peak, led by telecommunications and financial firms. The China Enterprises index HSCE, which tracks major Chinese firm listed in Hong Kong, extended gains after data showed China's Q4 economic growth beats expectations.

The Hang Seng index was up 0.43 per cent at 32,121.94. The Hang Seng China Enterprises index rose 1.76 per cent to 13,094.92.

China's main Shanghai Composite index rose 0.87 per cent to 3,474.75 points while its blue-chip CSI300 index ended up 0.55 per cent at 4,271.42.

WELLINGTON: The S&P/NZX50 Index fell 0.3 per cent, to 8272.67.

Australian Market

Local Markets Are Expected to Open Higher

Ahead of the local open SPI futures were 18 points higher at 5,970.

Thursday 18 January- close [Morningstar with AAP]: Australian shares have closed barely lower, with banks and consumer stocks among the few sectors to record gains as energy and mining stock weakness weighed on the market.

The benchmark S&P/ASX200 index was down 0.02 per cent at 6,014.6 points at 1630 AEDT with softer commodity prices compounding heavy losses in the energy sector.

Disappointing trading updates weighed on the energy sector.

Woodside Petroleum shed 0.8 per cent to $33.40 after announcing full-year 2017 production that was down by 11.1 per cent on 2016 and inside, albeit at the lower end of, revised guidance.

Whitehaven Coal shares sank 6.2 per cent to $4.40 after the coal miner cut its full-year production guidance due to slowed production at its Narrabri mine, although the company posted a strong first half result.

Santos lost 1.5 per cent to $5.21 and Origin Energy fell 0.7 per cent to $9.13 as the broader energy sector shed 1.1 per cent.

A fall in commodity prices left the miners mixed.

Shares in BHP Billiton rose 0.1 per cent to $30.78 after the global miner reported a big lift in first-half copper production and maintained full-year guidance, while Rio Tinto gained 0.5 per cent to $78.83 and Fortescue Metals, up 0.7 per cent in morning trade, fell away at the close to finish 0.2 per cent lower at $5.14.

CMC Markets chief strategist Michael McCarthy said the local market got the worst of a high Australian dollar refusing to match a drop in commodity prices.

"With the high dollar deterring international investors and potentially derailing economic growth and yet weaker commodity prices also dragging down earnings its little wonder we have had a bad day," Mr McCarthy said.

Westpac led the big banks, up one per cent to $30.95 while Commonwealth Bank was the worst performer, down 0.3 per cent to $79.90.

A surprise jump in Australia's unemployment rate sent the Aussie dollar lower after it breached the 80 US cent mark in Wednesday night trading.

Despite ABS data showing jobs grew in Australia for a record-equalling 15th consecutive month, the local currency dropped from 79.7 US cents ahead of the jobs numbers to 79.66 US cents at 1630 AEDT, having gone as low as 79.44 US cents during the session.

Mr McCarthy said a positive surprise on jobs would generally be supportive of the currency, which has baulked at 80 US cents.

"Following the high in trading today at 79.97 (US cents), once it was not able to crack that, the short sellers have moved in and taken the edge off it," Mr McCarthy said.

ON THE ASX AT 1630 AEDT:

The benchmark S&P/ASX200 index was down 1.2 points, or 0.02 per cent, at 6,014.6 points

The broader All Ordinaries index was down 3.9 points, or 0.06 per cent, at 6,130.4 points

National turnover was 4.5 billion securities traded worth $5.4 billion

Annual General Meetings today (ASX 300)

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

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