17 Sep 19 - Oil Stock Moves | Bellamy's Surges +50% on Takeover
There were plenty of oil-related movers on Monday, with airline Qantas & Air NZ falling as investors worried about higher fuel bills.
There were plenty of oil-related movers on Monday, with airline Qantas & Air NZ falling as investors worried about higher fuel bills.
The big news over the weekend was a drone strike that knocked out ~50% of Saudi Arabia's Aramco production.
The European Central Bank has gone for stimulus as predicted, cutting its key rate to a record low (the main refinancing rate is now negative at -0.5%) and will restart bond purchases of €20 billion a month up to shortly before the next rate decision.
Wall Street was boosted by Apple, which once again hit the $US1 trillion market value level after it unveiled its latest range of product updates and also rolled out a streaming TV service at a price that undercuts Walt Disney and Netflix.
Across Australia and New Zealand we have seen some profit taking across companies such as Transurban, Sydney Airport, and the power gen-tailers after a very strong run.
Global markets were mixed overnight as stocks took a breather after a solid bounce last week.
Global markets moved between small gains & losses on Friday as investors digested a mixed US jobs report and bet on a Federal Reserve interest rate cut this month, while China’s stimulus plan helped ease some concerns around global growth.
Global markets surged higher overnight after a raft of data bolstered confidence in the American economy and trade tensions eased.
Political tensions appeared to subside in Hong Kong, after embattled leader Carrie Lam said she formally withdrew legislation to allow extraditions to China, the detonator for three months of often-violent protests.
US stocks fell as data showed US factory activity shrank for the first time since 2016 in August.