US Markets
US markets were closed for Presidents’ Day on Monday. European bond yields rose, along with gains in defence stocks, as concerns grew that Europe’s security situation has reached a turning point. The rise in yields reflects expectations that European governments may need to raise additional funds for military spending.
Futures for the three major US equity benchmarks were each up 0.2 per cent.
Bitcoin has dipped below $100,000, continuing its volatile trading pattern.
Australian Market
Australian shares are expected to open slightly higher as investors await earnings reports from BHP, Mineral Resources, and Seek. However, the main focus on Tuesday will be the Reserve Bank’s policy decision at 2.30pm.
The central bank will also release its latest Statement on Monetary Policy, followed by a press conference with governor Michele Bullock at 3.30pm.
Company News
BHP, Mineral Resources, and Seek are releasing their earnings reports today.
HUB24 reported a 54% increase in net profit, demonstrating strong growth. Challenger also saw a healthy increase in earnings, with a 12% rise.
Reliance Worldwide Healthcare’s earnings jumped by a third. This positive result highlights the company’s strong performance.
Aurizon is exploring the possibility of splitting its rail businesses.
Perpetual received another takeover bid from Kohlberg Kravis Roberts for its corporate trust and wealth businesses.
