Morning Call 17/04/2018

The ASX 200 will likely open modestly lower following mixed leads from overnight trading. Both Europe and Wall Street were modestly higher, with strength in financial stocks offsetting weakness in healthcare stocks. Bond yields were higher, while the Aussie dollar was flat. Most commodities were lower, though oil was higher. On the domestic economic front, Westpac’s Leading Index will be published. Overseas, there is a slew of Chinese economic data which could influence how our market closes this afternoon. In local company news, BHP Billiton and Santos will release their quarterly production reports while Washington H Soul Pattinson trades ex-dividend. We believe the ASX 200 will close moderately lower, weighed down by profit taking with the ASX 200 back near 8-month highs.

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