Wall Street traded lower overnight with the Nasdaq pulling back from record highs, although the local SPI is flat this morning yesterday’s poor CAPEX figures from the ABS look set to flow into local trading today as well.
In Europe hopes of a deal on Greek debt are still proving elusive which is fuelling further pessimism.
The iron ore price has dipped overnight but its held above the $US60 mark.
Figures
Wall Street closed up/lower/mixed yesterday: The Dow Jones Industrial Average lost 0.2 per cent to close at 18,126, the S&P 500 lost 0.1 per cent to close at 2,121 and the NASDAQ lost 0.2 per cent to close at 5,098.
European markets closed mixed: London’s FTSE gained 0.1 per cent, Paris lost 0.9 per cent and Frankfurt is down 0.8 per cent.
Asian markets closed mixed: Tokyo’s Nikkei added 0.4 per cent, Hong Kong’s Hang Seng is down 0.2 per cent, and China’s Shanghai Composite tumbled 6.5 per cent.
The Australian share market closed higher/lower yesterday: The S&P/ASX 200 Index closed 12 points down to finish at 5,713. On the futures market the SPI is flat.
Turning to currencies and the Australian Dollar at 7:20AM was buying $US0.7653 cents, 49.98 Pence Sterling, 94.83 Yen and 69.82 Euro cents.
Economic news
Due out today from HIA are New home sales for April and the RBA is set to release financial aggregates for April.
Company news
Fortescue Metals Group Limited
(ASX:FMG) has completed a 270km gas pipeline to link its Solomon Hub mine with the Dampier to Bunbury natural gas pipeline. The company says the pipeline was built by DBP Development Group and TransAlta and will aim to drive operational efficiencies for the operation with the conversion to gas. The iron ore miner says the pipeline will be accessible to other miners in the Pilbara and will expand the energy mix in the region. Shares in Fortescue closed 2.97 per cent up yesterday at $2.43
Australia and New Zealand Banking Group
(ASX:ANZ) will expand its financial literacy program across Tonga in a bid to support economic development and shift attitudes towards managing money. The program called MoneyMinded is delivered in English and was developed with community consultation that aims to boost financial inclusion in communities where ANZ operates. ANZ CEO Tonga says the ongoing delivery of the program will support the overall economic development of Tonga. Shares in ANZ closed 0.62 per cent up yesterday at $32.72
Ex-dividends 1 company is going ex-dividend today: Aristocrat Leisure
(ASX:ALL) paying 8c unfranked.
Commodities
Gold has gained $2.50 to $US1,188 an ounce for the June contract on Comex.
Silver is up $0.02 to $16.67 for July.
Copper has lost $0.001 to $2.77 a pound.
Oil has gained $0.17 to $US57.68 a barrel for July light crude in New York.
