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The Morning Report is updated each weekday morning and is freely available to all site visitors. It provides a brief snapshot of both overnight global financial markets and the local share market from the previous day, including top 5 and bottom 5 movers, open corporate actions, and upcoming dividends. Also provided are quotes on indices, commodities and currencies, plus an Economic Diary.

25.06.2021

The Morning Report

Overnight global markets, Aussie market wrap, and research updates


Updated: Friday 25/06/2021.

GLOBAL MARKET WRAP

The S&P 500 rose 25pts overnight to close 0.6% higher at 4,266, as investor sentiment improved amid economic optimism after President, Joe Biden, announced a nearly $600 billion infrastructure package. The Financials sector was the strongest performer (+1.2%). The US 10-year treasury yield rose 1bp to 1.49%, while the USD Index is flat at 91.81 this morning.

Coronavirus update – The latest data from the World Health Organisation (WHO) showed the number of confirmed coronavirus cases was 179,241,734 rising by 398,737 yesterday. German Chancellor, Angela Merkel, said yesterday that Europe is “on thin ice” in its battle against COVID-19, as the highly contagious delta variant threatens to undo progress made in reducing infections.

US: Jobless claims came in at 411,000 in the June 19 week, above expectations of 380,000, however, slightly below the upwardly revised 418,000 claims in the prior week. The total number of claimants remained close to the pandemic lows reached earlier this month, as broader business re-openings boosted economic activity and demand for labour.

Personal incomes are expected to fall a further 2.5% in May, after plummeting 13.1% in April, while personal spending is expected to lift 0.4%, following April’s increase of 0.5%. The Michigan consumer sentiment index is expected to improve 3.6pts to 86.5 in June.

UK: The Bank of England left its benchmark interest rate unchanged at a record low of 0.1% during its June 2021 meeting, while an 8-1 vote was in favour of leaving its bond-buying programme unchanged, as widely expected. The central bank also reaffirmed it does not intend to tighten monetary policy until there is clear evidence that significant progress is being made in achieving its 2% inflation target sustainably. Policymakers expect the economy to experience a temporary period of strong GDP growth following the relaxation of economic restrictions, after which it is expected to fall back.

Germany: The GfK consumer confidence index is expected to improve to -4 in July, up from -7 in June.

LOCAL MARKET WRAP

The ASX 200 fell 23pts yesterday to close 0.3% lower at 7,275, with the Health Care sector the weakest performer (-1.8%). The SPI Futures Index is trading 51pts higher this morning at 7,228. The 10-year treasury yield is flat at 1.57% and the AUDUSD rose 0.1% to 0.7583 this morning.

Coronavirus update – The total number of cases rose by 31 yesterday to 30,408, with 184 active cases and 21 locally acquired cases. NSW Premier, Gladys Berejiklian, is resisting growing calls for an economically damaging Melbourne-style lockdown as Sydney’s latest outbreak nears 50 cases and other states close their borders. Meanwhile, a police investigation into the limousine driver who sparked Sydney’s current coronavirus outbreak has expanded to include the company that employed him to drive international aircrews to and from Sydney airport. Questions are being asked as to whether a loophole in public health orders in NSW meant the driver was not required to wear a mask while working.

Afterpay Limited (APT) announced yesterday it is making its service available to select app customers at a number of merchants within the US, including Amazon, Nike and Target, amongst others, with the total list of merchants representing almost half of all US ecommerce volume. APT will use a one-time card to facilitate the purchase, while customers will enjoy all the same benefits of using Afterpay, including the ability to pay overtime without incurring interest charges. APT shares rose 6.2% to close at $130.50.

ASX 200 TOP MOVERS

Company Name Close Price Change (%)
Pro Medicus Ltd (PME) $56.87 6.9
Afterpay Touch Group Ltd (APT) $130.50 6.2
Kogan.Com Ltd (KGN) $11.50 5.9
Perenti Global Ltd (PRN) $0.67 4.7
Woolworths Ltd (WOW) $37.75 4.5

ASX 200 BOTTOM MOVERS

Company Name Close Price Change (%)
Northern Star Resources Ltd (NST) $9.93 -3.7
Boral Ltd (BLD) $6.90 -3.6
Charter Hall Group (CHC) $15.23 -3.1
CSL Ltd (CSL) $286.61 -2.6
Pointsbet Holdings Ltd (PBH) $13.46 -2.5

DIVIDEND DIARY

Company Name Ex-Date Pay Date Dividend (cps) Franking
Abacus Property Group (ABP) 29/06/2021 31/08/2021 8.5c 0%
APA Group (APA) 29/06/2021 15/09/2021 27c 0%
BWP Trust (BWP) 29/06/2021 20/08/2021 9.3c 0%
Charter Hall Group (CHC) 29/06/2021 31/08/2021 19.3c 40%
Centuria Industrial REIT (CIP) 29/06/2021 10/08/2021 4.3c 0%
Charter Hall Long Wale REIT (CLW) 29/06/2021 13/08/2021 7.4c 0%
Charter Hall Retail REIT (CQR) 29/06/2021 31/08/2021 12.7c 0%
Dexus Property Group (DXS) 29/06/2021 30/08/2021 23c 0%
Goodman Group (GMG) 29/06/2021 26/08/2021 15c 0%
Growthpoint Properties Australia Ltd (GOZ) 29/06/2021 31/08/2021 10c 0%
Mirvac Group (MGR) 29/06/2021 31/08/2021 5.1c 0%
National Storage REIT (NSR) 29/06/2021 03/09/2021 4.2c 0%
Shopping Centres Australasia Property Group (SCP) 29/06/2021 31/08/2021 6.7c 0%
Stockland Corporation Ltd (SGP) 29/06/2021 31/08/2021 13.3c 0%
Vicinity Centres (VCX) 29/06/2021 31/08/2021 6.6c 0%

ASX 200 COMPANY EVENTS

Company Name Event
CSR Ltd (CSR) Full Year 2021 AGM

ECONOMIC DIARY

Country Event Date AEST
Eurozone M3 Money Supply 25/06/2021 18:00
United States Personal Income and Outlays 25/06/2021 22:30
United States Uni of Michigan Consumer Sentiment 26/06/2021 00:00
United States Baker Hughes Oil Rig Count 26/06/2021 03:00
China Industrial Profits 27/06/2021 11:30
Germany Retail Sales 27/06/2021-02/07/2021  

OPEN ASX 200 CORPORATE ACTIONS

NameCODEEVENTLonsec RecommendationCLOSING DATE
ANZ Capital Notes 1ANZPDReinvestment OfferSee CA Journal30/06/2021
Boral LtdBLDOff-Market TransferSee CA Journal30/06/2021
Bingo Industries LtdBINScheme of ArrangementSee CA Journal13/07/2021

Members can view the latest Corporate Action Journal in the "Latest Research" section for details on Lonsec's recommendations on these corporate actions.

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