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Message: Morningstar >> Overseas Market Report ..
Overseas Market Report - International Markets Roundup
Wednesday 04 December 2019 | Close
[Morningstar with AAP]: US President Trumps more upbeat comments about progress on trade talks with China saw all three major US indexes end a three-day losing streak.
Wednesday 04 December 2019 | Close
| Foreign Equities | Close | Change | %Change | |
 |
Dow Jones (US) | 27650 | 147 | 0.53 |
|
S&P 500 | 3113 | 20 | 0.63 |
|
NASDAQ | 8567 | 46 | 0.54 |
|
FTSE 100 Index | 7189 | 30 | 0.42 |
|
DAX 30 | 13141 | 151 | 1.16 |
|
CAC 40 | 5800 | 72 | 1.27 |
 |
Nikkei 225 (Japan) | 23135 | -245 | -1.05 |
|
HKSE | 26063 | -329 | -1.25 |
|
SSE Composite Index | 2878 | -7 | -0.23 |
|
NZ 50 | 11306 | 96 | 0.86 |
Wednesday 04 December 2019 | Close
| Commodities | US$ | Close | Change | %Change | |
|
Aluminium | /t | 1767 | -7 | -0.42 |
|
Copper | /t | 5858 | 68 | 1.17 |
|
Nickel | /t | 13075 | -240 | -1.80 |
|
Gold | /oz | 1474 | -3 | -0.23 |
|
Silver | /oz | 16.9 | -0.3 | -1.73 |
|
Oil - West Texas crude | /bbl | 58.4 | 2.3 | 4.15 |
|
Lead | /t | 1906 | 22 | 1.17 |
|
Zinc | /t | 2259 | 46 | 2.08 |
Wednesday 04 December 2019 | Close
| Currency | Close | Pts Change | % Change | |
|
$A vs $US | 0.6846 | -0.0002 | -0.03 |
|
$A vs GBP | 0.5223 | -0.0044 | -0.84 |
|
$A vs YEN | 74.51 | 0.11 | 0.15 |
|
$A vs EUR | 0.6179 | -- | 0.01 |
|
$A vs $NZ | 1.0487 | -0.0014 | -0.14 |
|
$US vs Euro | 0.9026 | 0.0005 | 0.06 |
|
$US vs UK | 0.7630 | -0.0063 | -0.81 |
|
$US vs CHF | 0.9884 | 0.0015 | 0.15 |
[Morningstar with AAP]: US President Trumps more upbeat comments about progress on trade talks with China saw all three major US indexes end a three-day losing streak.
Asia
China stocks ended lower on Wednesday, as hopes of a quick initial trade deal were dented following US President Trump's remarks. But a series of recent upbeat data and surveys suggesting an up-tick in the Chinese economy offset some of the losses.
The blue-chip CSI300 index was unchanged at 3,849.82, while the Shanghai Composite Index closed down 0.2 per cent at 2,878.12.
The Hong Kong market closed at its lowest level in almost two months, again on the back of Trump's remarks and renewed US-China trade tensions following from the US President's remarks.
The Hang Seng index fell 1.3 per cent to 26,062.56 while the China Enterprises Index shed 1 per cent to 10,254.09 - both at their lowest closing levels since early October.
Around the region, MSCI's Asia ex-Japan stock index was weaker by 0.86 per cent, while Japan's Nikkei index closed just over 1 per cent lower.
Europe
European stocks have opened higher, recovering some of the losses that occurred in the previous session following US President Trump's comments suggesting there was no end in sight to the trade disagreement with China.
The pan-European equity index STOXX 600 closed 1.2 per cent higher, having slumped 2.2 per cent since the beginning of the month.
Financials and industrials led the charge, with planemaker Airbus gaining 3.2 per cent after winning an order from US carrier United Airlines.
The mood on European trading floor is subject to change, with investors awaiting a salvo of surveys on the health of the service sector of major European countries.
The latest trade war scare has put the brakes on a rally that had lifted the S&P 500 since early October, when top diplomats from China and the United States met and outlined an initial agreement that Trump said he hoped could be sealed within weeks.
Trade-sensitive German shares were up 1.2 per cent, logging their biggest percentage gain in a month.
French shares gained 1.3 per cent after Trump and his French counterpart Emmanuel Macron said on Tuesday that they hoped to smooth out their differences over a digital services tax.In currency markets, the euro was flat against the dollar at 1.1081. The Japanese yen and Swiss franc, seen as safe havens during market storms were making gains, up 0.17 per cent and 0.13 per cent respectively.
North America
US President Trump's more upbeat comments about progress on trade talks with China saw all three major US indexes end a three-day losing streak.
The Dow Jones Industrial Average rose 146.97 points, or 0.53 per cent, to 27,649.78,
The S&P 500 was up 19.57 points, or 0.63 per cent, to 3,112.77.
The Nasdaq Composite added 46.03 points, or 0.54 cent to close at 8,566.67.
Trump's comments came after news reports suggesting the two largest economies were nearing agreement on how many tariffs would be rolled back in a phase one trade deal.
All 11 major sectors of the S&P 500 closed higher overnight, with energy enjoying the biggest percentage gain, boosted by a 4 per cent jump in crude prices.
Shares in Google parent Alphabet were up 1.9 per cent after it announced Sundar Pichai would take over as CEO.
Other big gainers were medical device and pharmaceutical company Johnson & Johnson and online travel platform Expedia Group, who rose 1.6 per cent and 6.2 per cent.
Investors are now awaiting the US Labor Departments' November employment report, due on Friday.
Australian Market
Local Markets Are Expected To Open Higher
Ahead of the local open SPI futures were 56 points higher at 6667.
Wednesday 4 December 2019 - close [Morningstar with AAP]: The Australian share market has fallen sharply for the second day in a row, after Donald Trump remarked that a trade deal with China might have to wait until late 2020.
The benchmark S&P/ASX200 index closed on Wednesday down 105.8 points, or 1.58 per cent, to 6,606.5 points, while the broader All Ordinaries was down 104 points, or 1.53 per cent, to 6,714.4 points.
"It was a second shocking day of red tracks today, definitely not a Santa rally, and it was all because of Trump," said Bell Direct market analyst Jessica Amir.
"He's wiped a lot of Christmas cheer off people's faces - but people are saying it might be an early Christmas present.
"We think it's a buying opportunity - good companies that are growing their bottom lines and have solid fundamentals that are backed by good managers - absolutely a buying opportunity."
IG market analyst Kyle Rodda called it "a mass evacuation from equities, as traders pull profits out of what was until recently a very bullish market.
"It had to happen eventually, given how complacent the market had become, and how stretched valuations were - and really, still are."
But the ASX200 closed above the important 6,600 mark, an important technical indicator.
Every sector except health care was at least 1.0 per cent lower, with the consumer staples falling the most, 2.2 per cent.
Woolworths dropped 1.9 per cent, Coles fell 2.9 per cent and and Coca-Cola Amatil, 2.7 per cent.
Of the big banks, NAB and ANZ both fell 2.1 per cent, to $24.90 and $24.19, respectively, while Commonwealth was down 1.9 per cent to $77.81 and Westpac dropped 1.0 per cent to $24.04.
In the heavyweight mining sector, BHP fell 2.5 per cent to $36.83, Rio Tinto dropped 2.1 per cent to $95.03 and Fortescue Metals dropped 1.2 per cent to $9.75.
South32 was the outlier, rising 0.8 per cent to $2.61.
Goldminers were mixed, Evolution down 3.7 per cent but Newcrest up 1.1 per cent, while Gold Road Resources rose 7.8 per cent after announcing a maiden resource statement for its Gilmour and Renegade deposits in WA.
A few other stocks were bright spots among the sea of red.
oOh! Media soared 23.9 per cent to a three-month high of $3.73 after the outdoor advertising company upgraded its earning guidance.
Adairs spiked 21.7 per cent to a 14-month high of $2.16 after buying family-owned New Zealand-based online retailer Mocka for around $85 million to $91 million.
The company was founded in a home garage in Christchurch in 2007 and expanded into Australia in 2011.
Xero rose 1.5 per cent to $81 after Morgan Stanley upgraded its price target on the cloud accounting platform to $90.
CSL helped prop up the health care sector, which was down 0.7 per cent, as the blood products and vaccine maker retreated a relatively modest 0.3 per cent to $277.19.
But the main story was losses, with shipbuilder Austal and plumbing and heating company Reliance Worldwide Corp among the biggest ASX200 losers, both falling 5.1 per cent.
The Aussie dollar is buying 68.23 US cents from 68.46 US cents on Tuesday.
ON THE ASX:
* The benchmark S&P/ASX200 index closed down 105.8 points, or 1.58 per cent, to 6,606.5 points.
* The All Ordinaries closed down 104 points, or 1.53 per cent, to 6,714.4 points.
* The SPI200 futures index closed down 88 points, or 1.31 per cent, to 6,611.
The NZX 50 added 97.15 points (0.86%) to 11307.02
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