The Australian share market looks poised for a positive start as the local reporting season continues to roll on. Wall Street got back to action on Tuesday after returning from the Presidents’ Day public holiday on Monday. US stocks gained momentum throughout the session on the back of hopes for Greece’s future amid fears for its debt load.
Global markets
Wall Street recovered from a weak open to start its trading week higher: The Dow Jones Industrial Average added 0.2 per cent to close at 18,047, the S&P 500 firmed 0.2 per cent to close at 2,100 and the Nasdaq firmed 0.1 per cent to close at 4,899.
European markets ended mixed on Tuesday: London's FTSE 100 gained 0.6 per cent, France's CAC 40 added 0.04 per cent and Germany's DAX fell 0.3 per cent.
Asian markets finished mixed yesterday: Japan’s Nikkei slipped 0.1 per cent, Hong Kong’s Hang Seng put on 0.2 per cent, and China’s Shanghai Composite gained 0.8 per cent.
The Australian share market fell 0.5 per cent yesterday, weighed down by poorly received financial results: The S&P/ASX 200 Index dropped 30.5 points to close at 5,858. On the futures market the SPI is 23 points higher.
Currencies
The Australian dollar at 8:20am was buying $US0.7817, 50.92 Pence Sterling, 93.26 Yen and 68.5 Euro cents.
Economic news due out today
Westpac Banking Corporation
(ASX:WBC)-Melbourne Institute: Leading Indexes of Economic Activity
Reporting season
Shares in Iluka Resources Limited
(ASX:ILU) rose after its annual result was not as bad as expected and its dividend was bigger than expected. The mineral sands miner booked a net loss of $62.5 million in 2014, down from a profit of $18.5 million the year before. Iluka has opted to boost its payout and lifted its fully franked final dividend to 13 cents per share. Shares in Iluka Resources rose 5.85 per cent to close at $7.78 on Tuesday.
Shares in Monadelphous Group Limited
(ASX:MND) closed lower after posting a first half profit fall, flagging lower annual revenues and cutting its dividend. The mining services company’s interim net profit dropped 23 per cent to $60.7 million as sales revenue declined 17.6 per cent. Over the full 2015 financial year Monadelphous expects revenues to decrease by between 15 to 20 per cent. Shares in Monadelphous Group slipped 0.31 per cent to close at $9.51 on Tuesday.
Ex-dividends
Australian Masters Yield Fund No 3 Limited
(ASX:AYJ) paying a $1.80 fully franked dividend
Genworth Mortgage Insurance Australia
(ASX:GMA) paying a 24.6 cent fully franked dividend
G.U.D. Holdings Limited
(ASX:GUD) paying a 20 cent fully franked dividend
Platinum Capital Limited
(ASX:PMC) paying a 5 cent fully franked dividend
Reckon Limited
(ASX:RKN) paying a 4.75 cent, 60 per cent franked dividend
Suncorp Group Limited
(ASX:SUN) paying a 38 cent fully franked dividend
XRF Scientific Limited
(ASX:XRF) paying a 0.5 cent fully franked dividend
Commodities
Gold has dropped $19.20 to $US1,208 an ounce for the April contract on Comex.
Silver has slipped $0.83 to $16.46 for March.
Copper has dipped $0.02 to $2.58 a pound.
Oil has added $0.16 to $US53.83 a barrel for March light crude in New York.
