Markets Live: OPEC fires up energy stocks
![OPEC has done a deal, and the oil price has surged.](/web/20161201121249im_/http://www.smh.com.au/content/dam/images/g/t/1/a/6/d/image.related.landscape.120x80.gt1c7g.png/1480571985384.jpg)
An overnight OPEC commitment to trim oil production electrified energy stocks, sending the sector to its best day in eight years and helping buoy the ASX.
An overnight OPEC commitment to trim oil production electrified energy stocks, sending the sector to its best day in eight years and helping buoy the ASX.
Investors are growing in their conviction that the bottom for global yields is in the rear-view mirror.
Energy stocks lit a fire underneath the ASX by adding over $5 billion to the market, after OPEC agreed to an output cut.
Oil prices have surged overnight as the international cartel of oil-producing countries, OPEC, agreed to cut production for the first time in eight years.
Iron ore dropped 6.8pc overnight, the most since March, extending a retreat from a two-year high.
The rally in coal and iron ore prices won't buy Treasurer Scott Morrison more time in the eyes of S&P.;
If Mnuchin becomes Treasury secretary, he'll be the third Goldman Sachs alum in three decades to get the job as the President-elect surrounds himself with bankers and billionaires.
The biggest beneficiaries of OPEC's decision to shrink oil production will include its most implacable enemies: US shale drillers.
An overnight OPEC commitment to trim oil production electrified energy stocks, sending the sector to its best day in eight years and helping buoy the ASX.
The Australian dollar has fallen more than 1 per cent, through the US74¢ mark, amid a fresh surge in the greenback.
The local share market is set to open on the front foot.
The US economy continued to expand from early October through mid-November with little inflation, a Fed survey showed.
​Treasury Secretary-nominee Steven Mnuchin outlined an agenda aimed at almost doubling the economy's current growth rate.
The Australian dollar has fallen more than 1 per cent, through the US74¢ mark, amid a fresh surge in the greenback.
Currencies | Buys ($AU1) | Sells ($AU1) | $ Mvmt | % Mvmt |
---|---|---|---|---|
AUD/USD | 0.7389 | 0.7384 | 0.0002rise | 0.03% rise |
AUD/EUR | 0.6954 | 0.6948 | -0.0023fall | -0.33% fall |
Updated: December 1, 2016 - 10:42PM |
Sector | Turnover ($AU) | Volume | Trades |
---|---|---|---|
Market total | 6,953,310,344 | 2,649,103,101 | 1,214,917 |
Industrial | 5,010,477,323 | 977,997,319 | 958,364 |
Mining | 1,723,049,649 | 1,670,540,937 | 251,874 |
David Samra, awarded for his stock-picking during and after the 2008 financial crisis, says now's the time for a steady hand and no emotion.
The Sydney software company just released its first quarterly earnings report since listing on the Nasdaq late last year.Â
Markets are in a well-oiled "death spiral," analysts at Citigroup say.
Code | Name | New Highs | Last Week | Last Month |
---|---|---|---|---|
NGE | NEW GUINEA ENERGY | 0.405rise | 0.019 | 0.395 |
IAM | INTIGER GROUP LTD | 0.068rise | 0.047 | 0.066 |
CR8 | CRE8TEK LIMITED | 0.077rise | 0.056 | 0.060 |
TBH | TOPBETTA HLDING LTD | 0.275rise | 0.200 | 0.200 |
BBL | BRISBANE BRONCOS | 0.435rise | 0.390 | 0.420 |
IIL | INNATE IMMUNO | 0.790rise | 0.710 | 0.780 |
CKF | COLLINS FOODS LTD | 6.340rise | 5.700 | 5.970 |
DSB | DELTA SBD LIMITED | 0.260rise | 0.240 | 0.240 |
QVE | QV EQUITIES LIMITED | 1.320rise | 1.220 | 1.270 |
HML | HENRY MORGAN LIMITED | 1.350rise | 1.250 | 1.250 |
Updated: December 1, 2016 - 6:50PM |
Code | Name | New Lows | Last Week | Last Month |
---|---|---|---|---|
MLX | METALS X LIMITED | 0.615fall | 1.320 | 0.630 |
OHE | ORION HEALTH GRP | 1.680fall | 2.500 | 1.690 |
PDN | PALADIN ENERGY LTD | 0.064fall | 0.095 | 0.083 |
RXH | REWARDLE HOLDING LTD | 0.039fall | 0.045 | 0.040 |
CNW | CIRRUS NET HOLD LTD | 0.020fall | 0.023 | 0.021 |
IVO | INVIGOR GROUP LTD | 0.016fall | 0.018 | 0.017 |
KRM | KINGSROSE MINING LTD | 0.100fall | 0.110 | 0.105 |
ACG | ATCOR MEDICAL | 0.062fall | 0.068 | 0.063 |
ZIP | ZIPTEL LIMITED | 0.110fall | 0.120 | 0.120 |
AHX | APIAM ANIMAL HEALTH | 1.050fall | 1.130 | 1.110 |
Updated: December 1, 2016 - 6:50PM |
Code | Time | Announcement |
---|---|---|
ZOR | 08:32PM | End of Day |
BOT | 08:29PM | Appendix 3B |
TON | 08:27PM | Quarterly Cashflow Report - 30 September 2016 |
EQU | 08:27PM | Change in Directors Interest x 3 |
EQU | 08:26PM | Appendix 3B |
TON | 08:26PM | Quarterly Activities Report - 30 September 2016 |
CLA | 08:21PM | Appendix 3B - Supplementary Prospectus |
KII | 08:21PM | Monthly Redemptions and Units on Issue - November 2016 |
PNR | 08:21PM | Appendix 3B |
KSM | 08:20PM | Monthly Redemptions and Units on Issue - November 2016 |
Company | Security Code | Float date | Issue $ |
---|---|---|---|
Blockchain Global Limited | BCG | 0.20 | |
Davenport Resources Limited | DAV | 27/10/2016 | 0.75 |
Dragontail Systems Limited | DTS | 10/11/2016 | 0.20 |
Freehill Mining Limited | FHS | 12/12/2016 | 0.20 |
HearMe Out Limited | HMO | 13/12/2016 | 0.20 |
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