•   
  •   

Money Australia shares seen edging up as oil prices firm; NZ up

17:58  12 january  2018
17:58  12 january  2018 Source:   reuters.com

Australia, New Zealand dollars underpinned by upbeat China manufacturing activity

  Australia, New Zealand dollars underpinned by upbeat China manufacturing activity The Australian and New Zealand dollars held firm on Tuesday as an unexpectedly upbeat survey of Chinese manufacturing activity and broad softness in their U.S. counterpart augured well for Antipodean commodity exports.The Aussie dollar (AUD=D4) made a two-month top of $0.7827 before running into resistance. The next chart targets are $0.7884 and $0.7898, both peaks from October. The kiwi held at $0.7102 (NZD=D4), just off last week's high at $0.7124.

* Shares up on Wall Street's gains but tugged by financials and materials. Aug 3 (Reuters) - Australian shares picked up on Friday, as positive sentiment emanating from Energy stocks took heart from an overnight rally in oil prices , after a report suggested a drop in U.S. crude inventories.

Australian shares rose on Tuesday as firmer commodity prices re-invigorated material stocks, while financial stocks tracked their Wall Street peers. Australian financials were the second-biggest boost to the ASX 200, with the sector index up 0.4 per cent, as investors took comfort from the low

FILE PHOTO -An investor and a pedestrian talking on their phones are seen in a window where a board displays stock prices at the Australian Securities Exchange (ASX) in Sydney © REUTERS/Steven Saphore FILE PHOTO -An investor and a pedestrian talking on their phones are seen in a window where a board displays stock prices at the Australian Securities Exchange (ASX) in Sydney Australian shares are expected to recover from two straight sessions of falls on Friday, latching on to solid leads from Wall Street inspired by higher oil prices.

Wall Street surged to record highs on Thursday on the back of rising oil prices and as investors bet on a strong U.S. corporate earnings season. Oil settled at three-year highs on signs that global inventories were tightening. [.N] [O/R]

The local share price index futures (YAPcm1) rose 0.3 percent or 17 points to 6,030, a 37.6-point discount to the underlying S&P/ASX 200 index (.AXJO) close. The benchmark fell 0.5 percent on Thursday.

New Zealand's benchmark S&P/NZX 50 index (.NZ50) inched 0.2 percent higher in early trade.

Bitcoin isn't the only bubble — beware of property and shares .
Bitcoin and cryptocurrencies aren't the only <g class="gr_ gr_6 gr-alert gr_gramm gr_inline_cards gr_run_anim Grammar multiReplace" data-gr-id="6" id="6">bubble</g> which investors should be worried about. It's certainly the bubble getting the most attention this week, but people should also be careful of risks in the property and stocks markets, according to a report by Danish investment bank Saxo Bank. "The length and extent of some of these bull markets may conceal just how far from fundamentals these assets have drifted," the bank's chief economist Steven Jakobsen said.

—   Share news in the SOC. Networks

Topical videos:

This is interesting!