Morning Market Update - 20 February 2018

Pre-Open Data


Key Data for the Week

Key economic data released this week:

  • Tuesday – AUS – RBA Meeting Minutes
  • Tuesday – EUR – Consumer Confidence

Australian Market


The Australian sharemarket began the week strongly yesterday, closing up 0.6%, led by gains among Utilities stocks. All sectors closed higher, with the exception of the Energy sector, which was weighed down by Woodside Petroleum, down 6.9%, after the company resumed trading following completion of its institutional placement.

The big four banks all ended the session between 0.4% and 0.8% higher, while CSL and Ramsay Health Care helped lift the Health Care sector higher, closing up 1.6% and 2.6% respectively.

Brambles Ltd (BXB) released 1H18 earnings, reporting an 8.8% increase in revenue, to US$2.7bn, and an 8.6% increase in EPS, to US$0.203, primarily driven by CHEP pallet volume growth, ongoing expansion in the IFCO reusable packaging containers division and favourable FX conditions. The company declared an interim DPS of US$0.145 and maintained its FY18 revenue guidance of mid-single digit growth. BXB gained $0.11, to close 1.1% higher, at $9.74.

In other earnings results released yesterday, Seek Ltd gained 1.9% after reporting a 27.1% increase in revenue, to $620.3m, while NIB Holdings rose 2.2%, following a 9% lift in revenue, to $1.1bn.

The Australian futures market points to a 0.58% fall today, following weaker European markets overnight.

Overseas Market 

European sharemarkets fell on Monday. Shares in Reckitt Benckiser fell 7.5%, after earnings missed profit expectations. Steelmakers rose after the US Commerce Department recommended quotas and tariffs on foreign steel and aluminium imports. The STOXX Europe 600 and UK FTSE 100 both fell 0.6%, while the German DAX lost 0.5%.

US sharemarkets were closed for President's Day.

CNIS Perspective

The latest data out of the Australian Bureau of Statistics confirms a trend that hasn’t really attracted a great deal of attention so far.

While the growing middle class wealth of China is seeing visitor numbers to Australia increase 13% from a year ago, an increase of 15% was noted for Indian visitors.

The travel bug for the world’s most populous nations is being fuelled by their growing affluence, with 1.4 million visitors from China alone, while tourists from India grew to 302,900.

Australia’s obvious attractions are a drawcard, and an AUD significantly lower than its 2011 highs, hasn’t hurt either.


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Should you wish to discuss this or any other Investment related matter, please contact our Investment Services Team on (02) 4928 8500.


The material contained in this publication is in the nature of general comment only, and neither purports, nor is intended to be advice on any particular matter.  Persons should not act or rely upon any information contained in or implied by this publication without seeking appropriate professional advice which relates specifically to his/her particular circumstances.  Cutcher & Neale Investment Services Pty Limited expressly disclaim all and any liability to any person, whether a client of Cutcher & Neale Investment Services Pty Limited or not, who acts or fails to act as a consequence of reliance upon the whole or any part of this publication. Cutcher & Neale Investment Services Pty Limited ABN 38 107 536 783 is a Corporate Authorised Representative of Cutcher & Neale Financial Services Pty Ltd ABN 22 160 682 879 AFSL 433814


Topics: Investment, CNIS, Dow Jones, China, Australian Bureau of Statistics

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