The ASX 200 is down 9 points in mid-morning trade after a quiet night. Financials ↑ but defensive REITS, Utilities and Gold ↓. MPL/ACCC proceedings, big moves for nickel & iron ore and big for data (retails sales/current account) & RBA. WOW ex #ausbiz



  • Ex-dividend – Aust Ethical (AEF) 3.0c, Altium (ALU) 18.0c, Appen (APX) 4.0c, Bravura Solutions (BVS) 4.8c, Downer EDI (DOW) 14.0c, DWS 4.0c, Hansen Technologies (HSN) 3.0c, Mount Gibson Iron (MGX) 4.0c, Medical Developments International (MVP) 2.0c, Oil Search (OSH) 7.4c, Propel Funeral (PFP) 5.8c, Ramelius Resources (RMS) 1.0c, St Barbara (SBM) 4.0c, Spark Infrastructure (SKI) 7.5c,, Sealink Travel Group (SLK) 8.5c, Woolworths Group (WOW) 57.0c
  • Economic data – Retail Sales, Current Account
  • RBA Interest Rate Decision


  • UK – Construction PMI
  • Europe – PPI,
  • US – Markit Manufacturing PMI Final, ISM Manufacturing PMI, Construction Spending


  • Medibank Private (MPL) – Response to ACCC proceedings related to its ahm Boost and Life products. In 2017 Medibank discovered (after receiving complaints)  that not all MBS item codes applicable to the joint investigation and reconstruction category were entered into ahm’s claims assessment system




US EQUITIES – Markets closed (S&P500 +2 (+0.06%), Dow Jones +41 (+0.16%), NASDAQ +30 (+0.38%))

Main themes

  • US markets closed
  • Trading in Europe was quiet
  • US tariffs on China came into effect – The US has imposed a 5% tariff on a variety of Chinese goods, including footwear, smart watches and TVs, while China has imposed a 5% duty on US crude with 5% duties.

EUROPEAN MARKETS – Mostly higher. STOXX600 +0.32%, UK FTSE +1.04%, German DAX +0.12%, French CAC +0.23%. Internationally focused stocks in the UK got a boost from a slump in sterling on fresh Brexit worries.


  • The USD is stronger at 98.92.
  • The Aussie is lower at US67.17.



  • Oil – WTI futures were down US2c at US$55.08 ahead of a hurricane near the Florida coast that could dampen demand. In other oil news, OPEC oil output rose 80,000 barrels per day in August, the first monthly increase this year.
  • Gold futures rose 0.1% to US$1,531.00 an ounce.
  • Iron Ore – CommSec has iron ore up US$5.30c or 6.2% to US$91.15 a tonne.
  • LME metals – Mixed. Cu -0.86%, Ni +0.90%, Al -0.20%.


  • UK – talk of a potential early election if anti no-deal MPs beat the government this week. The pound fell further and is now at 1.2066
  • European manufacturing PMI rose to 47 (previous 46.5, consensus 47.0), but it is the 7th month below 50. The UK manufacturing PMI fell to 47.4 (previous 48.0, consensus 48.4) the fastest drop in seven years.
  • Chinese PMI number yesterday – Caixin manufacturing PMI rose to 50.4 (previous 49.9, consensus 49.8).

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