Good morning. Chris Conway your Head of Research with your First Look.
The Australian market looks set to open sharply higher later this morning, after closing almost 2% lower following the shock election of Republican Donald Trump as the next US president.
The share price index is up 157 points (3%+) at 5307.
On Wednesday afternoon the local market plunged, as did major markets around the world, and lost $35 billion as it became clear Republican Donald Trump was set to win the race for the While House against Democrat Hillary Clinton. Locally, in economic news on Thursday, the Australian Bureau of Statistics releases September housing finance figures.
In equities news, Westfield Corporation is expected to give a third-quarter update while SingTel Optus is slated to release second quarter results. Meanwhile, Wesfarmers, BlueScope Steel and Treasurey Wine Estates have their annual general meetings.
Suncorp chief financial officer Steve Johnston is slated to speak at a business lunch in Sydney.
- SPI up 157 points at 5307
- AUD at US76.34¢
- Dow Jones +1.2%; S&P500 +0.8%; Nasdaq +0.8%
- FTSE100 +1.0%, CAC +1.5%, DAX +1.6%
- Spot gold -0.1% at $US1274.15 an ounce
- Brent oil +0.7% at $US46.38 a barrel
- Iron ore +3.9% at $US70.98 a tonne