The ASX200 is up 11 points in mid-morning trade after another quiet night in the US. Gold shiny, Disc & Financials ↑, Telcos, Staples & IT ↓. TWE investor day, ECX strategy update and ASX AGM. Lowe speaks tonight.


  • Company Events – Treasury Wine Estates (TWE) investor day. ASX AGM
  • Speech by RBA Governor Philip Lowe – An Economic Update – at the Armidale Business Chamber Dinner, Armidale at 8:05pm
  • Ex-dividend – Capitol Health (CAJ) 0.5c, Carsales.com (CAR) 25.0c, Generation Development Group (GDG) 1.0c, Regional Express (REX) 8.0c, Vita Life Sciences (VLS) 1.5c
  • Japanese – Jibun Bank Manufacturing PMI Flash, Services PMI Flash and Composite PMI Flash, Coincident Index Final, Leading Economic Index Final


  • UK – Public Sector Net Borrowing
  • US economic data – S&P/Case-Shiller Home Price, House Price Index, Richmond Fed Manufacturing Index, CB Consumer Confidence SEP


  • Treasury Wine Estates (TWE) – Investor Day


  • Eclipx (ECX) – Strategy Update


  • ASX – AGM




US EQUITIES – S&P500 -0 (-0.01%), Dow Jones +15 (+0.06%), NASDAQ -5 (-0.06%)

Main themes

  • Stock market trades higher in a quiet session with relatively light trading volume
  • Disappointing flash manufacturing PMI readings in Europe
  • US flash manufacturing PMI improved
  • US Treasury yields declined amid lingering growth concerns. The 10 year -5bps to 1.71%.

EUROPEAN MARKETS – Mixed. STOXX600 -0.80%, UK FTSE -0.26%, German DAX -1.01%, French CAC -1.05%.

Overall, manufacturing in the euro zone fell to a more than six-year low while services grew at is slowest pace in eight months. German manufacturing data fell to the lowest since the GFC to 41.4 (expected 44.0) from 43.5.


  • The USD is little changed at 98.60.
  • The Aussie is also little changed at US67.75.

BONDS – 2-yr: -3 bps to 1.67%, 3-yr: -4 bps to 1.59%, 5-yr: -5 bps to 1.58%, 10-yr: -5 bps to 1.71%, 30-yr: -5 bps to 2.15%


  • Oil – WTI futures closed up 0.95% to US$58.64.
  • Gold futures rose 1.1% to US$1,532.40 an ounce. Spot gold rose 0.5% to US$1524.71 an ounce.
  • Iron Ore – CommSec has iron up US$2.05 or 2.2% to $93.65/t
  • LME metals – Mixed. Cu +0.71%, Ni -0.32%, Al -0.14%.


  • European data – Flash September Manufacturing PMI fell to 45.6 (expected 47.3) from 47.0 while flash September Services PMI decreased to 52.0 (expected 53.3) from 53.5. Germany’s flash September Manufacturing PMI fell to 41.4 (expected 44.0) from 43.5 while flash September Services PMI decreased to 52.5 (expected 54.3) from 54.8. France’s flash September Manufacturing PMI decreased to 50.3 (expected 51.2) from 51.1 while flash September Services PMI fell to 51.6 (expected 53.2) from 53.4.


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