The ASX200 is down 49 points in mid-morning trade amid political spill. MOst sectors lower. Banks and big caps the worst. Results dominate. BHP, AMC, AHY, SWM -ve. FXL, MND, HLO +ve. CPU, FXJ, REA ex-div #ausbiz
TODAY
- Ex-dividend – Computershare (CPU) 21.0c, Fairfax Media (FXJ) 1.8c, Insurance Aust. Grp (IAG) 20.0c, Infomedia (IFM) 1.7, IPH 11.0c, REA Group (REA) 62.0c
- RBA Meeting Minutes
- Japanese – All Industry Activity Index
TONIGHT
- UK Public Sector Net Borrowing, CBI Industrial Trends Orders
COMPANY NEWS
- BHP Billiton (BHP) –
- Amcor (AMC)- NPAT US$724.0m, in line with last year on a constant currency basis; EPS US62.6c, in line with last year on a constant currency basis; Strong profit before interest and tax (PBIT) margin of 11.6%; Strong returns, measured as profit before interest and tax to average funds employed of 19.0%; Free cash flow, after net capital expenditure and cash restructuring of USD 194.1 million(3); Full year dividend up 4.7% to US45c. Encouraging signs heading into the 2019 financial year. Earnings in the first half of the 2018/19 financial year are expected to be modestly higher than the prior year, subject to raw material cost development through the remainder of the first half.
RESULTS SEASON SCORECARD
OVERNIGHT
SPI FUTURES -3
US EQUITIES – S&P500 +7 (+0.24%), Dow Jones +89 (+0.35%), Nasdaq +5 (+0.06%).
Main themes –
- Markets were more optimistic about US-Chinese trade relations ahead of talks on Wednesday.
- US President Trump complained to Republican donors at a fundraiser about the Federal Reserve, saying he was “not thrilled” with Fed Chair Jerome Powell for raising rates
EUROPEAN MARKETS – All higher. UK FTSE +0.43%, German DAX +0.99%, French CAC +0.65%.
CURRENCIES
- The US dollar was down 0.4% at 95.73
- The Aussie dollar is stronger at 73.46.
BONDS – 2-yr: -3 bps to 2.59%, 5-yr: -5 bps to 2.70%, 10-yr: -5 bps to 2.82%, 30-yr: -5 bps to 2.98%
COMMODITIES
- WTI crude futures closed up US52c higher at US$656.43 a barrel, on easing concerns about US-China trade war.
- Iron Ore – IRESS reports iron ore unchanged at US$67.50 a tonne. The CommSec site says China Import (Fines 62% Fe) was up US45c at US$67.95/dry ton. (CFR Tianjin port)
- LME metals – Mixed. Cu +1.11%, Ni +0.59%, Al +1.23%
ECONOMIC DATA, NEWS & POLITICS
- Italian Cabinet Undersecretary Giancarlo Giorgetti said he hopes the ECB extends its quantitative easing program to prevent a speculative attack
- European data – German July PPI +0.2% (expected 0.4%; last 0.3%) to be +3.0%yoy (as expected, last 3.0%)
QUOTE OF THE DAY
“My brother is really, really slow.” – Usain Bolt. Jamaican athlete born this day in 1986. And yes…everything is relative.
RunningMoney 