Thứ Hai, 4 tháng 8, 2014

Markets Live: Consumers buy, investors sell

9:05am: Local shares are poised to extend their losses, though the pace of selling appears to be far slower than on Friday.

What you need2know:

SPI futures down 26 pts, or 0.5%, at 5473

AUD at 93.11 US cents, 95.49 Japanese yen, 69.35 Euro cents and 55.33 British pence.

• On Wall St, SP 500 -0.3%, Dow -0.4%, Nasdaq -0.4%

• In Europe, Euro Stoxx 50 -1.4%, FTSE -0.8%, CAC -1%, DAX -2.1%

• Spot gold rose 0.8% to $US1293.33 an ounce

Iron ore slips 0.4% to $US95.20 per metric tonne

Brent oil down 1.1% to $US104.84 per barrel.

What’s on today

• Australia June retail sales, ANZ jobs advertisements

• UK construction PMI; Euro zone producer price index; US ISM New York

Stocks to watch

• KKR ups offer for Treasury Wine Estates to $5/share from $4.70

Alacer raised to overweight v neutral at JP Morgan with a price target of $3

Pact Group rated new buy a BBY; PT $4.19.

Steadfast agrees to buy 72.3% of Ausure Group

• JPMorgan has downgraded Australia’s biggest annuities provider, Challenger, to “underweight” following concerns about investment spread margins, capital intensity and default risk concerns.

• Hartleys Research maintains an “accumulate” on Independence Group, but said while “nice and profitable” it was looking for growth now. It holds a $4.26 a share price target.

• Deutsche Bank has a “hold” recommendation on OceanaGold and a target price of $3.10 a share after its June quarter report was weaker than expected.

Read more.

Markets Live: Consumers buy, investors sell

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