Here’s a quick recap of global markets:
- FTSE 100 (UK): closed
- DAX (Germany): closed
- CAC 40 (France): closed
- Dow Jones (USA): down 0.1%
- NASDAQ (USA): up 0.7%
European markets were closed on Monday.
In the US, technology stocks buoyed markets, with shares of Apple, Google, Amazon and Twitter each rising strongly. After hitting an all-time high overnight, Apple is now worth more than $1.02 trillion Australian dollars. Nearly seven Commonwealth Bank of Australia’s (ASX: CBA)!
Closer to home, the ASX 200 is expected to open slightly higher this morning.
Shares in focus will include ANZ. This morning, the regional banking heavyweight reported its half-year financial results showing a 23% rise in profit and an interim dividend of 80 cents per share.
Woolworths released its third-quarter report revealing a 5.1% rise in Australian Food sales and 2.3% rise in its Endeavour Drinks business. However, the company said its turnaround of the Big W business will take a few years and result in a loss of between $115 million and $135 million in the second half of this year.
Sydney Airport Holdings Ltd (ASX: SYD) shares will also be in focus after the group announced that the government had not accepted its proposal to build and operate the proposed Western Sydney Airport (WSA). The company said, “the risks associated with the development and operation of WSA are considerable and endure for many decades without commensurate returns for our investors.”
Finally, Canaccord Genuity analysts cut their Select Harvests Limited (ASX: SHV) price target 1.3% to $5.92 while Deutsche Bank cut their Spotless Group Holdings Ltd (ASX: SPO) price target 38% to $0.87, according to Dow Jones Newswires.
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The Motley Fool Australia's parent company Motley Fool Holdings Inc. owns shares of Alphabet (A shares), Alphabet (C shares), Amazon, Apple, Sydney Airport Holdings Limited, and Twitter. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.
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