Global markets were collectively stronger overnight, as investors balanced stimulus measures from Japan’s central bank with lacklustre US housing data. European markets edged mostly higher, with the Stoxx Europe 600 up 0.1%, after the BOJ expanded its stimulus program.
In London the UK’s FTSE 100 added 20 points (+0.4%) to settle at 5888, whilst the French CAC (+0.5%) and German DAX (+0.6%) enjoyed similar gains. Stateside, the Dow Jones added 13 points (+0.1%) to settle at 13578, whilst the S&P (+0.1%) and NASDAQ (+0.2%) also crept higher.
U.S. housing starts rose less than economists expected in August, according to a Commerce Department report. Construction of single-family homes, which account for the majority of housing starts, rose to the highest level in more than two years. Building permits fell less than economists had projected.
Crude oil futures lost 0.6% to $94.71 a barrel, while gold futures tacked on 0.1% to $1,773.50 an ounce. The US dollar advanced against the euro and the yen. Today’s session will see the release of the latest RBA Annual Report.
We will also see the release of Chinese HSBC Flash Manufacturing PMI numbers at 12:30pm, AEST, which could have an impact on our market.