Following mixed leads the Australian share market looks set for a soft open today after Wall Street finished steady amid mixed corporate results and economic news. Locally the reporting seasons also continues with full year results due from Goodman Group (ASX:GMG) and Crown Limited (ASX:CWN).
Figures
Wall Street closed mixed yesterday: The Dow Jones Industrial Average lost 10 points to close at 13,165, the S&P500 added 1 point to close at 1,403 and the Nasdaq gained 7 points to close at 3,019.
European markets were also mixed: London’s FTSE added 6 points, Paris added 18 points and Frankfurt lost 1 point.
Asian markets closed higher Hong Kong’s Hang Seng added 204 points, Tokyo’s Nikkei added 97 and China’s Shanghai Composite added 13 points.
The Australian share market closed lower yesterday: The S&P/ASX 200 Index closed 4 points down to finish at 4,308. On the futures market the SPI is 3 points up.
Currencies
The Australian Dollar at 7:15AM was buying $US1.058 cents, 67.68 Pence Sterling, 83.15 Yen and 86.01 Euro cents.
Economic news due out today
Reserve Bank of Australia: Statement on Monetary Policy
Company news
Ruralco Holdings Limited (ASX:RHL) has bought an extra 1.94 per cent of Elders Limited (ASX:ELD), establishing itself as the largest shareholder with 12.04 per cent stake. The rural services company says the increase is in line with its strategic directive and not part of any push for a takeover offer. Shares in Ruralco closed 1.98 per cent up yesterday at $3.60.
Skywest Airlines Limited (ASX:SXR) has reported a 5.18 per cent increase in passenger traffic in July, while chartered traffic dropped by almost a quarter. Skywest announced an $8 million investment from codeshare partner Virgin Australia Holdings Limited (ASX:VAH) in April, part of a proposed corporate alliance between the two airlines.Shares in Skywest closed flat yesterday at $0.27.
Ex-dividends
Australian Foundation Investment Company Limited (ASX:AFI): 13 cent fully franked dividend
BKI Investment Co Limited (ASX:BKI): 3.2 cent fully franked dividend
Royalco Resources Limited (ASX:RCO): 2 cents fully franked dividend
Commodities
Gold is down $0.40 to $US1,620 an ounce for the December contract on Comex.
Silver is up $0.01 to $28.10 for September.
Copper is up $0.003 at $3.42 a pound.
Oil is up $0.07 at $US93.43 a barrel for September light crude in New York.