AMP AMP Limited

2355 GMT [Dow Jones] Australia's S&P/ASX 200 is likely to be influenced Monday by ex-dividend movements in stocks including BHP (BHP.AU), AMP (AMP.AU) and Fortescue (FMG.AU), reduced risk aversion after U.S. President Obama's decision to seek congressional authorization for any use of military force in Syria, and China's stronger-than-expected official manufacturing PMI data. Still, activity will be subdued given the U.S. Labor Day holiday weekend. Reflecting reduced risk aversion in global markets, spot gold has fallen about 0.9% to US$1394.80 and Nymex crude is down around 0.5% versus New York closing levels. Ex-dividend movements are worth about 13 index points, or 0.3%, although BHP and Fortescue may carry some of their dividend after China's PMI rose to 51 vs 50.6 expected. BHP ADRs closed at A$35.43, down about 0.9% versus Friday's local close, as spot iron ore fell 0.4% on Friday and the S&P 500 declined 0.3%. Domestic building approvals, inventories and company profits data are due at 0130 GMT. Index last 5135.0. (david.rogers1@wsj.com)

 
Write to Shani Raja at shani.raja@wsj.com 
 
 

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