IG Markets – Morning Prices

IG Markets – Morning Prices 19 August 2010

IG Markets – Morning Prices

19 August 2010

In Overnight trade, the major US indices shrugged off early weakness to finish the session firmer, with speculation of further M&A activity helping to offset weakness among energy names following a big build in crude oil inventories. The consumer discretionary, telecommunications and technology sectors added the bulk of the points.

The technology laden NASDAQ was the top performing, finishing 0.3% firmer while the S&P 500 added 0.2% and the Dow Jones Industrial Average 0.1%. The Dow is now only 0.12% lower for the year.

Domestically, the ASX 200 is called to open 0.1% higher at 4480 following the modest overnight gains.

In terms of sectors, we could see some gains among the consumer discretionary names after the US sector was the top performer, adding 0.9%. Following yesterday’s strong result from David Jones, there’s the possibility that we’ll see some broker upgrades for the stock, which should help further outperformance.

Elsewhere, the technology, financial and industrial sectors were all supportive, up between 0.4% and 0.6%. The US basic materials sector had a reasonable session, adding 0.4% too. Base metal leads from the London Metals Exchange were mixed, however with aluminium and nickel declining and copper and zinc modestly firmer. In UK trade, both Rio and BHP detracted points, down 1.1% and 3.4% respectively. Not surprisingly, BHP’s ADR is pointing towards a fall of 1.3% on the open.

In summary, it looks like another quiet session, with all eyes likely to be on the latest round of corporate results from the likes of AMP, QBE and Wesfarmers.

Market Price at 7:00am AEST Change Since Australian Market Close Percentage Change
AUD/USD 0.8985 -0.0030 -0.33%
ASX (cash) 4480 5 0.12%
US DOW (cash) 10380 3 0.03%
US S&P (cash) 1090.1 0 0.01%
UK FTSE (cash) 5308 -16 -0.31%
German DAX (cash) 6181 7 0.11%
Japan 225 (cash) 9231 -9 -0.10%
Rio Tinto Plc (London) 33.68 -0.38 -1.12%
BHP Billiton Plc (London) 18.50 -0.66 -3.44%
BHP Billiton Ltd. ADR (US) (AUD) 37.94 -0.48 -1.25%
US Light Crude Oil (Oct) 75.66 -0.28 -0.37%
Gold (spot) 1229.5 4.7 0.38%
Aluminium (London) 2116 -32 -1.49%
Copper (London) 7404 11 0.15%
Nickel (London) 21900 -100 -0.45%
Zinc (London) 2138 8 0.38%
RBA Cash Rate to be raised by 25bp (Sep) (%) 3.00 0.00 0.00%

IG Markets provides round-the-clock CFD trading on currencies, indices and commodities. The levels quoted in this email are the latest tradeable price for each market. The net change for each market is referenced from the corresponding tradeable level at yesterday’s close of the ASX. These levels are specifically tailored for the Australian trader and take into account the 24hr nature of global markets.

ENDS

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