US and European markets reacted to positive news on Greek debt woes, but there’s still no guarantee a deal will be struck with its foreign creditors. Oil prices also slipped overnight. The local market is set for a steady start with the SPI edging higher.
Earnings results continue to come in today with Medibank Private, Santos, James Hardie and Duet Group all delivering half and full year numbers.
Global figures
Wall Street closed mixed yesterday: The Dow Jones Industrial Average lost 0.2 per cent to close at 17,986 the S&P 500 lost 0.1 per cent to close at 2,097 and the NASDAQ is up 0.4 per cent to close at 4,925.
European markets closed mixed: London’s FTSE lost 0.1 per cent, Paris is up 0.7 per cent and Frankfurt gained 0.4 per cent.
Asian markets closed up: Tokyo’s Nikkei added 0.4 per cent while the Hong Kong and Shanghai markets are closed this week.
The Australian share market closed lower yesterday: The S&P/ASX 200 Index closed 11 points down to finish at 5.904. On the futures market the SPI is 6 points up.
Turning to currencies and the Australian Dollar at 8:20AM was buying $US0.7789 cents, 50.55 Pence Sterling, 92.67 Yen and 68.58 Euro cents.
Company news
Shares in OceanaGold Corporation
(ASX:OGC) gained yesterday as it posted (after the market closed) a net profit of $US111 million as well as record revenues for the 2014 full year despite lower gold and copper prices. The company achieved record gold production for the last quarter of the year hitting 34,783 ounces. The gold miner says its dividend of $US0.04 per share reflects the strong performance for the year. Shares in OceanaGold closed 3.47 per cent up yesterday at $2.68.
Calibre Group Limited
(ASX:CGH) has reported a net loss of $155 million for the first half amid tight trading conditions. The engineering and services company’s loss was exacerbated by a $187 million impairment cost made up goodwill write-downs and restructuring costs. The company saw revenue down 22 per cent to $295 million blaming its client’s focus on costs and tough competitive conditions. Shares in Calibre closed 5 per cent lower yesterday at $0.285.
Ex-dividends
Asciano Limited
(ASX:AIO) is paying 8.25c fully franked.
Coca-Cola Amatil Limited
(ASX:CCL) is paying 22c 75 per cent franked.
Commodities
Gold is up $7.40 to $US1,208 an ounce for the Aprilcontract on Comex.
Silver is up $0.12 to $16.38 forMarch.
Copper is up $0.01 at $2.62 a pound.
Oil is down $0.98 at US$51.16 a barrel for March light crude in New York.
