US and Australia stock markets looks positive for tonight. The volume was not present in the US market considering the announcement to confirm final purchase price should be out earily next week in US and Monday a holiday. The US market normally follows the Australian market. Therefore, I hope the volume is strong today in Australia and we start to see the impact of the announcement.
Bob
1.27 +0.04 +3.25% Open: 1.26 High: 1.27 Low: 1.24
Previous Close: 1.23 Volume: 465,628
NETQUOTE MORNING MARKET REPORT FINAL SYDNEY, Sep 3 AAP -
(Oil is the October contract on the New York Mercantile Exchange. Gold, silver and copper are December contracts.)
NEW YORK - Stocks rose on Thursday, extending their gains from the day before, after reports on housing, manufacturing and jobs all indicated that the economy continues to grow. The Dow Jones industrial average rose 50 points, having jumped 254 on Wednesday thanks to strong reports on manufacturing in the US and China. Broader indices also rose. Trading was somewhat muted ahead of the government's closely watched monthly report on employment due out Friday. The monthly report is likely to provide further evidence that the jobs market remains weak. With little broad conviction about the health of the economy, investors chose to target specific stocks following monthly retail sales reports and the latest acquisition activity. The Dow Jones industrial average rose 50.63, or 0.5 per cent, to close at 10,320.10. Broader indices also rose. The Standard & Poor's 500 index rose 9.81, or 0.9 per cent, to 1,090.10, while the Nasdaq composite index rose 23.17, or 1.1 per cent, to 2,200.01. About two stocks rose for every one that fell on the New York Stock Exchange, where volume was light at 960 million shares.
LONDON - A one-day rally on European stock markets petered out as investors took profits, but most exchanges closed with modest gains in response to better-than-expected US housing and jobless claims data. The London FTSE 100 index added a marginal 0.09 per cent, or 4.63 points, to close at 5,371.04. Elsewhere, there were gains of 0.21 per cent in Milan, 0.32 per cent in Amsterdam and 0.07 per cent in Madrid. The Swiss Market index was unchanged.
FRANKFURT - The DAX was flat, down by 0.05 point, at 6,083.85 points.
PARIS - The CAC 40 rose 0.21 per cent, by 7.59 points, to 3,631.43.
TOKYO - Japan's Nikkei average rose 1.5 per cent on Thursday, moving further away from a 16-month low touched the previous day, after US and Chinese manufacturing data eased investor worries about the global economy. Market players said the Nikkei is steadying somewhat following a 7.5 per cent slide in August, likely helped by buying from domestic institutional investors at lows and by buying of futures from foreigners. The benchmark Nikkei gained 135.82 points to 9,062.84. It rose 1.2 per cent on Wednesday, after falling as low as 8,796.45, its lowest since April 2009. The broader Topix climbed one per cent to 819.42. Some 1.58 billion shares changed hands on the Tokyo exchange's first section. Advancing stocks outnumbered declining ones by more than 3 to 1.
HONG KONG - Hong Kong shares rose 1.19 per cent following a Wall Street rally on the back of strong US manufacturing data. The benchmark Hang Seng Index added 245.09 points to 20,868.92. Turnover was $HK66.13 billion ($A9.34 billion).
SHANGHAI - Chinese shares closed up 1.25 per cent on the back of the auto sales data, dealers said. The Shanghai Composite Index, ended 32.89 points higher at 2,655.78 on turnover of 142.1 billion yuan ($A23.08 billion).
WELLINGTON - The New Zealand share market rose for a second consecutive day after a strong Fonterra online milk powder auction followed news of strength in the Australian and Chinese economies on Wednesday. The market continues to demonstrate resilience in the wake of the collapse of South Canterbury Finance and the triggering of the Crown retail deposit guarantee. The benchmark NZX-50 index closed up 5.384 points, or 0.175 per cent, at 3,082.484, having been up around 19.19 points in early trading. Volume in the New Zealand market was still nothing to get excited about, dealers said.
SYDNEY - The Australian markets have received positive leads for the third consecutive day, with stronger performances in overseas markets overnight. At 0750 AEST on the Sydney Futures Exchange, the September share price index contract was up 30 points at 4,559. In economics news on Friday, the Federal Chamber of Automotive Industries issues car sales data for August, and the Australian Industry Group/Commonwealth Bank Australian release their Performance of Services Index (Australian PSI) for August. The Australian Office of Financial Management conducts an auction of $700 million of July 2016 bonds. In companies news, the Africa Down Under mining conference concludes in Perth and, in Melbourne, the chairman of the Australian Securities and Investments Commission chairman, Tony D'Aloisio, addresses the American Chamber of Commerce in Australia. On Thursday, the Australian share market posted a second successive day of good gains with all sectors showing strength. The benchmark S&P/ASX200 index closed up 37 points, or 0.82 per cent, at 4,532.7 points, while the broader All Ordinaries index finished 36.2 points higher, or 0.8 per cent, to 4,563 points.
NYMEX
Oil prices ended higher on Thursday after an initial retreat as investors put a positive spin on reports about jobs, manufacturing and home sales. Benchmark oil for October delivery rose $1.11 to settle at $US75.02 a barrel on the New York Mercantile Exchange. Prices dropped as low as $US73.11 earlier in the session. In London, Brent crude rose 58 cents to settle at $US76.93 a barrel on the ICE Futures exchange. Meanwhile, the national average for a gallon of unleaded regular gasoline was $US2.676 on Wednesday, according to AAA, Wright Express and Oil Price Information Service. That's about five cents less than a month ago and 7.4 cents higher than a year ago. Natural gas prices fell after the government said inventories increased by 54 billion cubic feet to about 3.106 trillion cubic feet last week. The total was 6.3 per cent lower than year-ago levels but about 5.8 per cent more than the five-year average. Natural gas for October delivery lost 1.1 cents to settle at $US3.751 per 1,000 cubic feet. In other Nymex trading in October contracts, heating oil added 2.12 cents to settle at $US2.0411 a gallon and gasoline gained 3.25 cents to settle at $US1.9216 a gallon.
COMEX
US gold futures settled with moderate gains, as investors prepared for the US employment report, due on Friday, that was forecast to show a sizable decline in August payrolls, which, if true, could spur safe-haven buying of precious metals. COMEX December gold futures rallied $5.30 to close at $US1,253.40 an ounce on the COMEX division of the NYMEX, after trading in a range from $US1,245.30 to $US1,255.20 an ounce. Thursday's peak fell just short of the previous high at $US1,256.60 an ounce, its highest since June 28. COMEX estimated final gold volume at a slim 67,380 lots. Gold bullion moved up to $US1,251.25 by 2:32 pm EDT (0332 AEST) from $US1,245.05 an ounce in late Wednesday business. The London afternoon gold fix rose 0.75 to $US1,248.50 an ounce. COMEX December silver finished sharply higher at $US19.6720 an ounce, up 27.9 cents, rising with gold as well as industrial metals. t traded between $US19.32 and $US19.67 an ounce. COMEX estimated final volume at 24,786 lots. Spot silver was at $US19.64, a small leap above $19.35 an ounce in the previous session. The London silver fix was $US19.45 an ounce. NYMEX October platinum settled $15.80 higher at $US1,551.50 an ounce. Platinum prices went up with gold. Spot platinum rose to $US1,546.50 an ounce from $US1,529 an ounce previously. NYMEX December palladium ended with $5.15 gains at $US525.25 an ounce, lifted by metal increases generally. Spot palladium increased to $US521.50 an ounce from $US516 an ounce on Wednesday.
LME
Copper rose to its highest in more than four months as recent economic data from the world's two largest economies, the United States and China, brightened the outlook for demand. Copper for three-months delivery on the London Metal Exchange ended at $7,653 a tonne compared with a close of $7,606 a tonne on Wednesday. It touched $7,689 earlier, its highest since April 27. A slew of upbeat US data on Thursday boosted sentiment, but other data from metal-consuming industries such as the auto sector was not rosy on Wednesday. Falling stocks, which indicate demand trends, continued to offer support for copper prices. Inventories now stand at 399,000 tonnes, their lowest since November 2009, and cancelled warrants -- material earmarked for delivery -- account for 7.25 per cent of the total stocks. In other metals, LME nickel gained 3 per cent to end up at $21,650 a tonne, having hit $21,772 earlier, its highest since August 20, while lead ended at $2,155 a tonne versus Wednesday's $2,115 a tonne, having hit $2,180 earlier, its highest since Aug 10. Zinc ended at $2,174 a tonne from $2,133, having hit a four month high of $2,194 earlier.. "The Chinese prefer to arb zinc rather than copper. The volumes some days are very strong," a Sydney trader said. The differential between LME zinc and the Shanghai benchmark was open a fraction at around 100 yuan ($14.68) per tonne in favour of importing zinc, accounting for import duties and VAT. Tin ended at $21,425 from $21,450, and aluminium ended at $2,145 from $2,108, having hit $2,147 earlier, it's highest since Aug 18.
INTERNATIONAL NEWS
WASHINGTON - The weak US economy got a little lift with new data suggesting companies aren't pursuing mass layoffs and stores are a little busier.
WASHINGTON - Federal Reserve Chairman Ben Bernanke told a panel investigating the financial crisis that regulators must be ready to shutter the largest institutions if they threaten to bring down the financial system.
TORONTO/HONG KONG - Chinese and other investors have approached at least one big Canadian pension manager about a bid for Canada's Potash Corp to rival BHP Billiton's $39 billion hostile offer.
FRANKFURT - The European Central Bank raised its growth and inflation forecasts for the 16-nation eurozone, with the economy now expected to expand 1.6 per cent this year and 1.4 per cent in 2011.
FRANKFURT - Financial markets zeroed in on European Central Bank funding for the banking system and ECB forecasts for eurozone growth after the bank kept its main interest rate at 1.0 per cent.
WELLINGTON - Significant price lifts in Fonterra's internet auction of commodity milkpowders have set the scene for the start of NZX trading in global dairy futures contracts.
PARIS - Trade data shows that the world has emerged from the global economic crisis even though the rate of recovery varies from region to region, the head of the World Trade Organisation said.
CHICAGO - Burger King Holdings Inc, America's perennially No 2 hamburger chain, said that it is selling itself to little-known private equity firm 3G Capital in a deal valued at $US3.26 billion ($A3.58 billion).
SEATTLE - Dell is walking away from a bidding contest with rival Hewlett-Packard for data-storage maker 3Par.
WELLINGTON - Forbes Magazine has picked a list of 200 "best under a billion" top-performing companies in Asia -- those worth under $US1 billion -- including one New Zealand company and 13 Australian companies.
NEW YORK - Oil prices ended higher after an initial retreat as investors put a positive spin on reports about jobs, manufacturing and home sales.
NEW YORK - Wheat prices advanced after Russia extended its export ban on the crop until next year's harvest, nurturing hopes of more robust US sales of the grain to other countries.
NEW YORK - The dollar fell against other major currencies ahead of a key US jobs report. The euro rose after the European Central Bank raised its forecast for the region's growth.
LONDON - Copper rose to its highest in more than four months as recent economic data from the world's two largest economies, the United States and China, brightened the outlook for demand.
NEW YORK - US Treasuries fell for a second straight day as recent economic data assuaged fears the world's largest economy may be headed for a double-dip recession.
LOCAL NEWS
CANBERRA - The nation will have to wait until Monday at the earliest before knowing whether it will have a Labor or coalition government, as three key independents continue to ponder which party they will support.
SYDNEY - Increasingly large numbers of Australians are switching to sustainable energy sources in a bid to reduce energy bills and lower greenhouse gas emissions, a Newspoll survey has found.
STOCKS TO WATCH ON THE AUSTRALIAN SECURITIES EXCHANGE ON FRIDAY:
AIO - ASCIANO GROUP - down 2.5 cents at $1.70 FGL - FOSTER'S GROUP LTD - down one cent at $6.10 Foster's Group chief financial officer Angus McKay has resigned from the beverage company to join ports and rail operator Asciano Group in a similar position.
AVX - AVEXA LTD - up 0.3 cent at 3.2 cents The major shareholder of Avexa is confident of removing the drug developer's board.
AMC - AMCOR LTD - down 12 cents at $6.82 The NSW government says it's secured an investment of more than $400 million by Amcor for an upgraded paper recycling facility in Sydney.
BHP - BHP BILLITON LTD - up 41 cents at $38.32 Chinese and other investors have approached at least one big Canadian pension manager about a bid for Canada's Potash Corp to rival BHP Billiton's $39 billion hostile offer.
COF - COFFEY INTERNATIONAL LTD - up 1.5 cents at $1.02 Coffey says it will hire two new executives to replace outgoing group executive operations Debbie Goodwin, whose role will be split the role between regional operations and specialist services.
COU - COUNT FINANCIAL LTD - up 1.5 cents at $1.11 Accounting and financial company Countplus Pty Ltd has settled its seventeenth acquisition, as it plans for listing on the ASX in December this year, spinning off from Count Financial.
CXY - COUGAR ENERGY LTD - down 4.1 cents, or 54.67 per cent, at 3.4 cents Shares in Cougar Energy plunged to their lowest level in more than three years amidst talk of collapse as the company resumed trading on the stock exchange following a six-week suspension.
FMG - FORTESCUE METALS GROUP LTD - down three cents at $4.89 Fortescue Metals Group boss Andrew Forrest has backed a call for a taxation summit from one of the independents central to negotiations over which party will form government.
MTS - METCASH LTD - down nine cents at $4.32 Grocery and hardware wholesaler Metcash says underlying earnings per share in fiscal 2011 are likely to grow six to eight per cent.
MOS - MOSAIC OIL NL - steady at 15 cents AGK - AGL ENERGY LTD - up four cents at $15.34 Oil and gas explorer Mosaic Oil says it has received an independent expert's report that supports the takeover offer made by AGL Energy.
MQG - MACQUARIE GROUP LTD - down 40 cents at $37.40 Fitch Ratings affirmed the stable outlook of the long-term issuer default ratings of Macquarie Group and its subsidiaries.
RIO - RIO TINTO LTD - up 88 cents at $73.12 Rio Tinto has officially opened its $US1.5 billion Brockman 4 iron ore mine in WA's Pilbara.
WES - WESFARMERS LTD - up 57 cents at $33.29 Coles will continue to provide Wesfarmers with opportunities for growth while the conglomerate looks to lift its return to shareholders.
WPL - WOODSIDE PETROLEUM LTD - up 33 cents at $43.23 Woodside Petroleum says its Browse liquefied natural gas (LNG) development is on track to complete a $1.25 billion work program by mid-2012. AAP pe 03-09 0750
SSN Price at posting:
7.0¢ Sentiment: LT Buy Disclosure: Held
