Leading up to the weekends Greek election, US markets were subdued for most of the day until the last hour of trade, when they were boosted by rumours that the central bank were on standby to provide liquidity to financial markets as early as this weekend. The Australian share market is poised to open slightly higher.
US economic news
The Consumer Price Index has come in lower than expected; The Labor Department reported that retail prices fell 0.3% in May compared to April levels. The Labor department also reported The number of Americans applying for first-time unemployment benefits climbed last week. 386,000 people filed new jobless claims in the week ending 9 June, which is 6,000 higher from the previous week's revised figure.
Figures
Wall Street closed up yesterday: The Dow Jones Industrial Average gained 156 points to close at 12,652, the S&P500 was up by 14 points to close at 1,329 and the Nasdaq was up by 18 points to close at 2,836.
European markets closed mixed: London’s FTSE lost 17 points, Paris gained 2 and Frankfurt lost 14 points.
Asian markets closed down: Hong Kong’s Hang Seng lost 218 points, Tokyo’s Nikkei shed 19 and China’s Shanghai Composite lost 23 points.
The Australian share market closed lower yesterday: The S&P/ASX 200 Index closed 22 points down to finish at 4,042. On the futures market the SPI is 24 points higher.
Currencies
The Australian Dollar at 7:15AM is just above parity at 1.002 US cents, 64.44 Pence Sterling, 79.55 Yen and 79.35 Euro cents.
Company news
Aurora Oil & Gas Limited (ASX:AUT) has increased its stake in Eureka Energy Limited (ASX:EKA) to 55.89 per cent yesterday, giving the oil and gas explorer a majority stake in the company. Given the increase in its share, Aurora's offer has been automatically extended by 14 days in accordance with the Corporations Act, to June 28. Aurora reconfirmed in a statement, that its offer is unconditional and its buy price will not be increased. The company also said it intends to delist Eureka from the ASX provided it has adequate level of ownership.Shares in Aurora closed 0.33 per cent up yesterday at $3.05.
GWA International Limited (ASX:GWA) has entered into a scheme implementation agreement with security and locksmith company Q Technology Group Limited (ASX:QTG). Under the agreement, GWA would acquire Q Tech for 3.8 cents cash per share. The building fixtures and fittings supplier’s board has provided a unanimous recommendation that QTG shareholders vote in favour of the scheme in the absence of a superior bid. Shares in GWA closed 1.26 per cent down yesterday at $1.96.5.
Ex-dividends
CI Resources Limited (ASX:CII) and Ironbark Capital Limited (ASX:IBC).
Commodities
Gold is up $4.60 to $US1,624 an ounce for the August contract on Comex. Silver is up $0.193 to $28.59 for July. Copper is up $0.03 at $3.37 a pound. Oil is up $0.49 at US$84.37a barrel for July light crude in New York.