US stocks have retreated from record highs on Monday ahead of a two day Federal Reserve meeting giving the Australian share market a negative lead.
The world’s largest company, Apple posted a 33 per cent rise in quarterly profit on the back of strong growth in China and iPhone sales.
Markets
Wall Street closed lower yesterday: The Dow Jones Industrial Average lost 0.2 per cent to close at 18,038, the S&P 500 lost 0.4 per cent to close at 2,109 and the NASDAQ lost 0.6 per cent to close at 5,060.
European markets closed up: London’s FTSE gained 0.5 per cent, Paris improved 1.3 per cent and Frankfurt advanced 1.9 per cent.
Asian markets closed mixed: Tokyo’s Nikkei slipped 0.2 per cent, Hong Kong’s Hang Seng rose 1.3 per cent, and China’s Shanghai Composite surged 3 per cent after talk of merging some of the state firms to keep the number at 40.
The Australian share market closed higher yesterday: The S&P/ASX 200 Index closed 49 points up to finish at 5,983. On the futures market the SPI is 9 points up.
Currencies
The Australian Dollar at 7:30AM was buying 78.54 US cents, 51.58 Pence Sterling, 93.5 Yen and 72.16 Euro cents.
Economic news
Due out today is the ANZ-Roy Morgan weekly read on Australian consumer confidence.
Company news
Confectionary company Yowie Group Limited
(ASX:YOW) is continuing its push into America as it launches nationally across Walmart and Safeway stores in the US. In its quarterly report Yowie said its products are now available in over 5,000 stores across North America. The company’s Florida manufacturing facility is operating at 7m units per annum with scope to increase rapidly to 100m units p.a. Shares in Yowie Group last traded 0.67 per cent higher at $0.75.
And Newcrest Mining Limited
(ASX:NCM) has announced a Chief Development Officer will join the executive team. Michael Nossal has 25 years global resource experience and was most recently Executive General Manager of Business Development at MMG Limited. Shares in Newcrest Mining closed 1.12 per cent stronger at $14.33.
Ex-dividends 2 companies are going ex-dividend today: Aurora Dividend Income Trust
(ASX:AOD) will pay 0.46 cents with 35.51 per cent franking whilst Steamships Trading Company Limited
(ASX:SST) will pay 24 cents un-franked.
Commodities
Gold has lifted $28.20 to $1,203 an ounce for the June contract on Comex. Silver has risen 76 cents to $16.39 for May. Copper has gained 2 cents to $2.77 a pound. Oil has slipped 16 cents to US$56.99 a barrel for June light crude in New York.
