Markets Live: Back in rally gear

Economic data on Friday showed industrial production advanced 0. 4 per cent in July, while the New York Fed Empire Manufacturing gauge fell more than estimated and consumer confidence unexpectedly declined to its lowest level of the year. 9:03am: Newcrest Mining, Stockland and Ansell are first off the rank as financial results season accelerates in the days ahead, potentially helping to extend last week’s rally in local shares. • AUD at 93. 21 US cents, 95. 34 Japanese yen, 69. 63 Euro cents and 55. • On Wall St, S&P 500 -0. 01%, Dow -0. 3%, Nasdaq +0. • In Europe, Euro Stoxx 50 -0. 8%, FTSE +0. 1%, CAC -0. 7%, DAX -1. • Spot gold lost 0. 7% to $US1304. • Iron ore added 0. 2% to $US93. • New entrants in the ASX 200 this week: Genworth will replace Australand after August 21 close; Spotless replaces Envestra today. • BHP Billiton is pushing ahead with a demerger of its non-core assets, with chief Andrew Mackenzie preparing to unveil, as soon as this week, a new $14 billion resources giant that will instantly become one of Australia’s biggest miners. • Healthscope rated a new hold at Deutsche Bank; price target $2. 30. • Goldman Sachs has maintained a “neutral” recommendation on Domino’s Pizza, with a 12 month price target of $21. 00, down from the current share price of $23. 39. • CIMB has an “add” recommendation on Primary Health Care and a $5. 57 target price. 9:03am: Good morning and welcome to the Markets Live blog for Monday.

Read more here: SMH


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