Markets Live: Ex-div stocks weigh

The world’s largest economy, which began recovering in July 2009, may continue growing for five years or more, making it the longest period of expansion, Morgan Stanley said. 9:05am: Shares are poised for a cautious start with a weak lead from Wall St and after the price of iron ore dropped further to match a two-year low, while AMP and BHP trade ex-dividend and GDP growth data for the June quarter is released. • AUD at 92. 80 US cents, 97. 54 Japanese yen, 70. 67 Euro cents and 56. 32 British pence. • On Wall St, S&P 500 -0. 1%, Dow -0. 2%, Nasdaq +0. • In Europe, Euro Stoxx 50 +0. 2%, FTSE +0. 1%, CAC -0. 03%, DAX +0. • Iron ore falls 0. 5% to $US86. • Spot gold slips 1. 6% to $US1265. • Brent oil down 2. 4% to $US100. • Australia: Q2 GDP data at 11:30am AEST; RBA governor speech to CEDA in Adelaide at 1:20. • China: non-manufacturing PMI at 11am; HSBC services PMI at 11:45am. • US (overnight): auto sales, Beige Book. • A number of stocks trade ex-dividend: AMP, BHP, ASX, Beach Energy, Iluka, Mineral Resources, Mermaid Marine, Nine Entertainment, Pact Group, Qube, Sky Network, Seven West Media, WorleyParsons. • Deutsche Bank upgraded Perpetual to “buy” and has a $49. 90 a share price target on the stock. • Hartleys Research has retained an “accumulate” on Atlas Iron and a 12-month price target of 64¢ as it lowers its iron ore price assumptions in line with recent sell-side consensus. 9:05am: Good morning and welcome to the Markets Live blog for Wednesday.

Read more here: SMH

    

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