Iron ore price rises over 3%: ASX poised to open higher

03Dec

Iron ore price rises over 3%: ASX poised to open higher

 

The Australian share market looks set to open slightly higher this morning despite Wall Street closing relatively flat. The Pfizer-BioNTech coronavirus vaccine is set to be rolled out in the United Kingdom from early next week. Only the UK stock market reacted to the news. The Australian dollar continues to rise and iron ore shot up over 3 per cent.

Economic News

The ABS will issue the October international trade and lending data. AiG performance of construction November.

Markets

Wall Street closed mixed yesterday: The Dow Jones Industrial Average gained 0.2 per cent to 29884, the S&P 500 added 0.2 per cent to 3669 and the NASDAQ closed almost 0.1 per cent lower at 12349.

European markets closed mixed, London’s FTSE gained 1.2 per cent, Paris added 0.02 per cent and Frankfurt closed 0.5 per cent lower.

Asian markets closed mixed, Tokyo’s Nikkei gained 0.05 per cent, Hong Kong’s Hang Seng shed 0.13 per cent and China’s Shanghai Composite closed 0.1 per cent lower.

Taking all of this into equation, the SPI futures are pointing to a 0.4 per cent gain.

Yesterday, the Australian share market closed 0.03 per cent higher at 6590.

Company news

Travel company Serko (ASX:SKO) report that transaction volumes increased to 44 per cent of prior year volumes for the month of November (up from 35 per cent of prior year volumes for the month of October. They have seen a gradual improvement in transaction booking volumes following the easing of domestic travel restrictions within Australia over the past couple of weeks. New Zealand domestic travel increased to 85 per cent of prior year volumes for the month of November. Australian domestic travel increased to 33 per cent of prior year volumes for the month of November (up from 26% of prior year volumes for the month of October). Shares in Serko (ASX:SKO) are trading 0.4 per cent lower at $5.14

Ex-Dividends

Fisher & Paykel Healthcare (ASX:FPH) is paying 15.24 cents unfranked
Pendal Group (ASX:PDL) is paying 22 cents 10 per cent franked
TechnologyOne (ASX:TNE) I s paying 9.41 cents 60 per cent franked

Currencies

One Australian Dollar at 7:15 AM was buying 74.04 US cents, 55.42 Pence Sterling, 77.38 Yen and 61.20 Euro cents.

Commodities

Gold has gained $13.10 to US$1827 an ounce.
Silver was up $0.08 to US$24.11 an ounce.
Oil was up $0.37 to US$44.96 a barrel.
Iron Ore futures suggest 1.3 per cent rise.
 
Copyright 2020 – Finance News Network


Source: Finance News Network

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