6.50am: Traders to be thankful
The FTSE 100 is set to start Thursday slightly higher on what will is likely be a quieter day, as across the pond America celebrates the Thanksgiving holiday.
CFD and spreadbetting firm IG sees London’s blue-chip benchmark rising by around 16 points, as it makes a price of 6,395 to 6,398 with just over an hour to go until the open.
On the eve of Thanksgiving it appeared investors and Wall Street traders were cashing out after the recent coronavirus (COVID-19) success vaccine positivity, ahead of the public holiday.
“Yesterday, there was a sense that some dealers were winding down for the week, even though the NYSE will be open for limited trading on Friday. Any of the financial markets that are open today will probably experience low volatility,” said David Madden, an analyst at CMC Markets.
Into the somewhat checked-out market, the Federal Reserves released its monthly meeting minutes, from its early November get-together, indicating the central bank’s policymakers may mull further stimulus, via asset purchase mechanisms.
On Wall Street, the Dow Jones Industrials Average finished Wednesday down 173 points or 0.58% at 29,872. The broader S&P 500 closed at 3,629, down 0.16%, whilst the Nasdaq Composite was up 0.48% ending the session at 12,094.
In Asia on Thursday, Japan’s Nikkei 225 index was up 240 points or 0.91% trading at 26,537, whilst Hong Kong’s Hang Seng moved 0.23% higher to 26,731. The Shanghai Composite was down a sliver at 3,360.
Around the markets:
- The pound: US$1.3393, up 0.1%
- Gold: US$1,810 per ounce, up 0.18%
- Silver: US$23.30 per ounce, down 0.22%
- Brent crude: US$48.78 per barrel, up 1.9%
- West Texas Intermediary: US$45.92 per barrel, up 2.2%
- Bitcoin: US$17,959, down 5.11%
6.45am: Early Markets – Asia/Australia
Stocks in Asia were higher on Thursday as JD Health, a unit of Chinese e-commerce giant JD.com said it is looking to raise more than US$3 billion on its Hong Kong debut.
Japanese stocks surged, with the Nikkei 225 rising 0.91% and South Korea’s Kospi advancing 0.94%.
Mainland Chinese stocks gained 0.10% while Hong Kong’s Hang Seng index rose 0.25%.
Shares in Australia lagged, with the S&P/ASX 200 slipping 0.70% even as November continues to be strong with the index still trading about 12% higher for the month.
Proactive Australia news:
TNT Mines Ltd (ASX:TIN) is watching intently as Warriedar Mining has started reverse circulation (RC) drilling at Eureka Gold Project, around 50 kilometres north of Kalgoorlie in the Western Australian Goldfields.
Maximus Resources Ltd (ASX:MXR) has completed a reverse circulation (RC) drilling and reconnaissance program at gold prospects within the Spargoville tenements in WA’s Goldfields with broad alteration zones intersected.
Anson Resources Ltd (ASX:ASN) (FRA:9MY) has received firm commitments from new and existing sophisticated and professional investors to raise $2.4 million through a placement.
Strategic Elements Ltd (ASX:SOR) has commenced finalising the scale up of its battery ink technology to achieve a volume of one litre of ink this week for its self-charging battery.
Lake Resources NL’s (ASX:LKE) (OTCMKTS:LLKKF) (FRA:LK1) high purity ‘clean’ lithium carbonate produced from Kachi brines has been sent to Novonix Ltd’s (ASX:NVX) (OTCQX:NVNXF) Novonix Battery Technology Solutions in Nova Scotia, Canada, to produce NMC622-based lithium-ion battery test cells.
Andromeda Metals Limited’s (ASX:ADN) updated mineral resource estimate for its 75%-owned Great White Deposit near Poochera on the west coast of South Australia’s Eyre Peninsula has increased by 33% over the previous estimate.
Pure Minerals Ltd (ASX:PM1) is trading higher on entering a non-binding Memorandum of Understanding (MOU) with Samsung SDI Co Ltd for the supply of nickel from the TECH Project, 100%-owned by its wholly-owned subsidiary Queensland Pacific Metals Pty Ltd (QPM).
Creso Pharma Limited (ASX:CPH) (OTCMKTS:COPHF) (FRA:1X8) is set for the Therapeutic Goods Administration’s (TGA) final decision confirming an interim recommendation to down schedule the distribution of cannabidiol (CBD) products in Australia and this is expected in late December 2020.
K2fly Ltd (ASX:K2F) has completed its final certification as an SAP Endorsed APP – a new category of solutions from SAP’s partner ecosystem to help customers become best-run, intelligent enterprises.
Firefinch Ltd (ASX:FFX) (OTCMKTS:EEYMF) (FRA:N9F) is an income-generating gold producer after completing the first gold pour at Morila Gold Mine in Mali under its ownership.