The Australian share market looks set for a flat start to the day after Wall Street was closed for a public holiday and European markets closed lower.
Wall Street’s last close on Tuesday : The Dow Jones Industrial Average gained 72 points to close at 12,944, the S&P500 added 9 points to close at 1,374 and the Nasdaq was up by 25 points to close at 2,976.
European markets closed down: London’s FTSE lost 3 points, Paris lost 3 points and Frankfurt lost 13 points.
Asian markets closed mixed: Hong Kong’s Hang Seng was down 26 points, Tokyo’s Nikkei added 38 and China’s Shanghai Composite was down 2 points.
The Australian share market closed higher yesterday: The S&P/ASX 200 Index closed 45 points higher to finish at 4,172. On the futures market the SPI is flat.
The Australian Dollar at 7.15AM was buying $US1.028, 65.93 Pence Sterling, 82.11 Yen and 82.06 Euro cents.
Economic news due out today
The Australian Bureau of Statistics: International trade in goods and services data for May
Whitehaven Coal Limited (ASX:WHC) has taken over more than 90 per cent of Coalworks Limited (ASX:CWK) shares ahead of its purchase deadline last night. The takeover will allow the coal mining company to consolidate control of several projects located in eastern Australia. Shares in Whitehaven closed 2.86 per cent higher yesterday at $4.32.
Watpac Limited (ASX:WTP) has secured a new 20 year lease agreement at Kingston Industrial Park. The deal will return $1.62 million annually in rental returns that Watpac believes is an attractive prospect for buyers when marketed for sale. Shares in Watpac closed 14.07 per cent higher yesterday at $0.77.
Gold is up $19.70 to $US1,615 an ounce for the August contract on Comex.
Silver is up by $0.77 to $28.11 for the September contract.
Copper is up $0.06 at $3.52 a pound.
Oil is up $4.07 at US$87.05 a barrel for August light crude in New York.