- Australian share market is set to end the week on a positive note, taking cues from a strong overnight closing on Wall Street.
- The ASX 200 is expected to open the day 7 points or 0.1% higher on Friday after rising 1% to 7,370.2 points in the previous session.
- Among the shares paying dividends on Friday are Blackmores Ltd, IRESS Ltd, QBE Insurance Group Ltd, Perpetual Ltd, and Woodside Petroleum Ltd.
The Australian share market is set to end the week on a positive note, taking cues from a strong overnight closing on Wall Street, with strong commodity prices likely supporting miners and energy shares. In addition, global stocks surged as fears eased over China’s Evergrande and US Federal Reserve’s stimulus taper plans.
The ASX 200 is expected to open the day 7 points or 0.1% higher on Friday after rising 1% to 7,370.2 points in the previous session.
Among the shares paying dividends on Friday are Blackmores Ltd, IRESS Ltd, QBE Insurance Group Ltd, Perpetual Ltd, and Woodside Petroleum Ltd.
The ASX-listed stock going ex-dividend on Friday is BSP Financial. Other stocks going ex-dividend in the rest of September are:
On Wall Street, which saw the Dow Jones jumped 1.5%, the S&P 500 rose 1.2%, and the NASDAQ stormed 1% higher.
Meanwhile, shares of Evergrande climbed 18% ahead of key debt payment deadline.
On the other hand, investors mulled implications from the Fed’s decision to start reducing monthly bond purchases as soon as November.
How ASX stocks ended on Thursday
Image source: ASX website, as of Thursday’s closing
Bond yields and dollar
US Treasury yields jumped following Fed’s stimulus taper statement on Wednesday. Benchmark US 10-year notes last fell 30/32 in price, pushing the yield to 1.4336%, its highest since early July.
- 2-year yield: US 0.26%, Australia 0.00%
- 5-year yield: US 0.95%, Australia 0.63%
- 10-year yield: US 1.43%, Australia 1.26%, Germany -0.26%
The dollar index fell 0.428% after hitting a one-month high.
- Australian dollar rose 0.7% to 72.94 US cents
Crude oil prices rise
Crude oil prices rose after traders purchases the commodity amid surging demand and a draw in US crude inventories resulted in tight supplies.
- Brent crude settled at the highest level since 2018.
- Brent settled at US$77.25, up 1.4% on the day.
- WTI ended up 1.5% at US$73.30 per barrel.
Gold prices fall
Gold prices were under pressure over concerns that US Fed could hike interest rates sooner than expected.
- Spot gold fell 1.3% to US$1,745.29 an ounce.
- US gold futures settled 1.6% lower at US$1,749.80.
Meanwhile, the most-traded January coking coal on China's Dalian Commodity Exchange rose as much as 7.7% to 3,044 yuan (US$470.62) a tonne.
Bitcoin last traded 2.68% higher at US$ 44,760.32 on Bitstamp.
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