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5 things you need to know today

  • Business conditions in Australia are good, according to the NAB business conditions index which rose 14.1 points to a 9 and-a-half-year high of 15.2 points in August. The business confidence index fell from 11.7 points to 5.1 points. However consumer confidence fell 3.8%, according to the latest weekly ANZ/Roy Morgan survey, after rising 0.5 per cent in the previous week.
  • We also seem to be getting our credit card debt under control with the average credit card balance falling by $59.90 to a 9 and-a-half-year low of $3,070.30 in July. In smoothed terms (12-month average) the average balance was down by 0.2 per cent on a year ago.
  • In the US, the Dow Jones Industrial Average rose 61.49 points, or 0.28 per cent, to 22,118.86, the S&P 500 gained 8.37 points, or 0.34 per cent, to 2,496.48 and the Nasdaq Composite added 22.02 points, or 0.34 per cent, to 6,454.28. Apple was the second biggest drag on the S&P. Apple's shares closed a volatile trading session 0.4 per cent lower at $US160.82 after rising as high as $US163.96, after it unveiled its 10th anniversary edition of the iPhone. While some investors cited worries about whether Apple would face supply shortages, others said traders were just taking profits. In Europe The FTSE was down 12.9 points at 7400.69 as the German DAX rose 49.53 points to close at 12524.77
  • At 0700 AEST on Wednesday, the share price futures index was up 25 points, or 0.44 per cent, at 5,770.
  • CIMIC Group company, Leighton Asia, has been awarded a deep tunnel sewerage system phase 2 contract by PUB, Singapore's national water agency. Revenue to Leighton Asia, which is part of CIMIC Group construction company CPB Contractors, is $470 million. Construction will begin next month.

 

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Published on: Wednesday, September 13, 2017


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