Markets Live: OPEC fires up energy stocks
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 | 0.7392 | 0.7387 | 0.0005rise | 0.07% rise |
AUD/EUR | 0.6957 | 0.6953 | -0.0018fall | -0.26% fall |
Updated: December 2, 2016 - 12:13AM |
Sector | Turnover ($AU) | Volume | Trades |
---|---|---|---|
Market total | 6,953,310,344 | 2,649,103,101 | 1,214,684 |
Industrial | 5,010,477,323 | 977,997,319 | 958,272 |
Mining | 1,723,049,649 | 1,670,540,937 | 251,733 |
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 |
---|---|---|---|---|
MNB | MINBOS RESOURCES LTD | 0.008rise | 0.006 | 0.008 |
ABU | ABM RESOURCES NL | 0.150rise | 0.120 | 0.150 |
TPC | TPC CONSOLIDATED LTD | 1.200rise | 1.050 | 1.200 |
IRI | INTEGRATED RESEARCH | 2.490rise | 2.250 | 2.430 |
MVT | MERCANTILE INVEST | 0.175rise | 0.160 | 0.175 |
TMZ | THOMSON RES LTD | 0.075rise | 0.070 | 0.075 |
BUX | BUXTON RESOURCES LTD | 0.155rise | 0.145 | 0.155 |
ANG | AUSTIN ENGINEERING | 0.225rise | 0.215 | 0.225 |
EVO | EVOLVE EDUCATION GRP | 1.000rise | 0.970 | 1.000 |
SNC | SANDON CAPITAL LTD | 0.970rise | 0.950 | 0.970 |
Updated: December 1, 2016 - 4:42PM |
Code | Name | New Lows | Last Week | Last Month |
---|---|---|---|---|
SEG | SEGUE RESOURCES | 0.001fall | 0.002 | 0.002 |
REZ | RESOURC & EN GRP LTD | 0.100fall | 0.120 | 0.100 |
ICN | ICON ENERGY LIMITED | 0.027fall | 0.032 | 0.027 |
RTG | RTG MINING INC. | 0.260fall | 0.305 | 0.260 |
AFR | AFRICAN ENERGY RES | 0.035fall | 0.039 | 0.035 |
DMG | DRAGON MOUNTAIN GOLD | 0.010fall | 0.011 | 0.011 |
CSE | COPPER STRIKE LTD | 0.230fall | 0.250 | 0.230 |
SMA | SMARTTRANS HOLDINGS | 0.012fall | 0.013 | 0.012 |
SES | SECOS GROUP LTD | 0.070fall | 0.075 | 0.070 |
ICU | ISENTRIC LTD. | 0.070fall | 0.075 | 0.070 |
Updated: December 1, 2016 - 6:50PM |
Company | Security Code | Float date | Issue $ |
---|---|---|---|
Autosports Group Limited | ASG | 16/11/2016 | 2.40 |
Apollo Tourism and Leisure Ltd | ATL | 04/11/2016 | 1.00 |
Blockchain Global Limited | BCG | 0.20 | |
Bravura Solutions Limited | BVS | 16/11/2016 | 1.45 |
Charter Hall Long WALE REIT | CLW | 08/11/2016 | 4.00 |
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