Morning Report 20 Jan 2015: While US investors had a public holiday, European markets hit 7 year highs. •US financial markets were closed for Martin Luther King Junior Day. •Chinese shares slumped on Monday, recording the biggest daily drop since June 2008. •The Shanghai Composite index slumped by 7.7% after regulators imposed curbs on margin trading •Australian market up by 9pts at the end of trade •Euro stoxx up by 18pts •Gold price moving higher up by US$12/ounce to US$1,277/ounce •Oil price also moving higher to US$47.50/barrel •Australian market set to open flat •Rio Tinto quarterly update. Watch for costs and cash holding updates •Chinese data out 1pm AEDT. Retail sales and Industrial production •Australian $ at 0.8206 US cents Source: https://youtube/watch?v=KY5s_tnuSAk Disclaimer: *Justin McMillan is an Authorized Representative of RI Advice Group Pty Limited (ABN 23 001 774 125), Australian Financial Services License 238429. This editorial does not consider your personal circumstances and is general advice only. You should not act on the information provided without first obtaining professional financial advice specific to your circumstances. The taxation information contained in this editorial is provided as a guide only and should not be relied upon. You should seek independent tax advice from a qualified tax adviser.
Posted on: Tue, 20 Jan 2015 00:10:50 +0000
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