Australian stock market week july 30- august 3 2012

Australian stock market week july 30- august 3 2012 : Australian sharemarket has closed 1.5 per cent higher led by strong gains for resources, but with most sectors in positive territory. At the close on Friday, the benchmark S&P/ASX200 index was up 62.1 points, or 1.5 per cent, at 4209.8 points, while the broader All Ordinaries index was up 60.6 points, or 1.45 per cent, at 4234.4 points.

On the ASX 24, the September share price index futures contract was 65 points higher at 4,168, with 31,056 contracts traded.

Australian economic data week july 30- august 3 2012

HIA NEW HOME SALES

Due: Monday
Period: June
Market forecast: No market forecast.
Last result: The Housing Industry Association (HIA) said new home sales rose by 0.7 per cent in May, after a 6.9 per cent rise in April.

Much of May's small increase was due to a 21.1 per cent rise in multi-unit sales, while detached house sales dropped by 2.0 per cent.

AUSTRALIAN BUREAU OF STATISTICS (ABS) BUILDING APPROVALS

Due: Tuesday
Period: June
Market forecast: Building approvals to fall by 14.6 per cent in the June and 5.4 per cent in the 12 months to June.

Last result: Australian residential building approvals rose 27.3 per cent to 13,591 units in May.

This compares to an upwardly revised 10,676 units in April, seasonally adjusted.

In the year to May, building approvals were up 9.3 per cent, the Australian Bureau of Statistics (ABS) said on Tuesday.

RESERVE BANK OF AUSTRALIA (RBA) TO RELEASE FINANCIAL AGGREGATES

Due: Tuesday
Period: June
Market forecast: No market forecast.
Last result: Total credit provided to the private sector by financial intermediaries rose by 0.5 per cent in May after rising by 0.4 per cent in April. Over the year to May, total credit rose by 4.0 per cent.

Housing credit increased by 0.3 per cent over May, following an increase of 0.4 per cent over April. Over the year to May, housing credit rose by 5.1 per cent.

Business credit increased by 0.8 per cent in May after rising by 0.7 per cent in April. Over the year to May business credit increased by 3.3 per cent.

The AUSTRALIAN INDUSTRY GROUP/PRICEWATERHOUSE PERFORMANCE OF MANUFACTURING (PMI) INDEX

Due: Wednesday
Period: July
Market forecast: No market forecast.

Last result: Australia's manufacturing sector contracted for the fourth straight month in June.

The Australian Industry Group/PriceWaterhouseCoopers Australian Performance of Manufacturing Index remained below the key level of 50 points in June, indicating the sector continued to contract.

However, the index rose 4.8 points to 47.2 points, indicating the sector contracted at a slower pace compared to the previous month.

ABS HOUSE PRICE INDEX

Due: Wednesday
Period: June quarter
Market forecast: Australian capital city house prices to fall by 0.7 per cent in the three months to June and fall by 4.2 per cent in the year to June.

Last result: Australian capital city house prices fell 1.1 per cent in the March quarter, the ABS reported.

In the year to March, the house price index fell 4.5 per cent.

Economists had expected a fall of 0.5 per cent for the March quarter.

RBA INDEX OF COMMODITY PRICES

Due: Wednesday
Period: July
Market forecast: No market forecast.

Last result: Preliminary estimates for June indicate that the Reserve Bank of Australia (RBA) commodity price index fell by 0.7 per cent (on a monthly average basis) in terms of special drawing rights (SDR)*, after falling by 1.3 per cent in May.

The largest contributors to the fall in June were decreases in the prices of oil and thermal coal.

However, prices of coking coal and gold rose in the month.

The value of the SDR is calculated by the International Monetary Fund on the basis of a weighted basket of four currencies - US dollar, euro, Japanese yen, and British pound sterling.

AUSTRALIAN OFFICE OF FINANCIAL MANAGEMENT TO ISSUE TREASURY BONDS

Due: Wednesday
A tender for the issue of $1 billion of the April 2023 bond line is planned.

ABS INTERNATIONAL TRADE IN GOODS AND SERVICES

Due: Thursday
Period: June
Market forecast: Australia's trade deficit is expected to be $400 million in June.
Last result: Australia's trade deficit widened in May, the ABS said.

The balance on goods and services was a deficit of $285 million in May, seasonally adjusted, compared with a deficit of $26 million in April, revised from $203 million.

During May, exports were up 2.0 per cent in adjusted terms while imports were up 3.0 per cent, the ABS said.

ABS RETAIL TRADE

Due: Thursday
Period: June
Market forecast: Australian retail spending is expected to rise by 0.9 per cent in June.
Last result: Australian retail spending rose 0.5 per cent in May, official figures show.

Retail trade rose in the month to a seasonally adjusted $21.307 billion, compared to a downwardly revised $21.199 billion in April, the ABS said.

AUSTRALIAN INDUSTRY GROUP/COMMONWEALTH BANK AUSTRALIAN PERFORMANCE OF SERVICES INDEX (PSI)

Due: Friday
Period: July
Market forecast: No market forecast.
Last result: Australia's services sector continued to contract in June but at a much slower pace than in previous months, a sign the struggling sector may have turned a corner.

Australian Industry Group/Commonwealth Bank Australian Performance of Services Index rose by 5.3 points to 48.8 in June.

A reading of below 50 indicates a contraction.

AUSTRALIAN OFFICE OF FINANCIAL MANAGEMENT TO ISSUE TREASURY NOTES

Due: Thursday
A tender is planned for the issue of 1 billion of Treasury Notes maturing on October 26 2012 and $1 billion of Treasury Notes maturing on November 9 2012.

For the latest updates on the stock market, PRESS CTR + D or visit Stock Market Today For the latest updates PRESS CTR + D or visit Stock Market news Today

Related Post: