Outlook: Aus shares look for positive news

Market Reports


US stocks ended flat on Tuesday providing little motivation for the Australian sharemarket to shake its six day losing streak. 
 
The Wall Street Journal is reporting that US transportation stocks such as airlines, railroads and trucking companies are close to correction territory, a warning signal for the broader stock market. 

US economic news

The US Labour Department reported job openings in April rose to 5.38 million up from 5.11 million in March. 
 
And the US Commerce Department said U.S. wholesale inventories rose 0.4 per cent in April, above expectations of a 0.2 per cent rise. 
 
Markets

Wall Street closed mixed yesterday: The Dow Jones Industrial Average lost 0.01 per cent to close at 17,764, the S&P 500 added 0.04 per cent to close at 2,080 and the NASDAQ lost 0.2 per cent to close at 5,014.
 
European markets closed lower: London’s FTSE shed 0.5 per cent, Paris lost 0.2 per cent and Frankfurt slipped 0.6 per cent.
 
Asian markets also closed lower: Tokyo’s Nikkei retreated 1.8 per cent, Hong Kong’s Hang Seng slipped 1.2 per cent, and China’s Shanghai Composite dipped 0.4 per cent.
 
The Australian share market closed lower yesterday: The S&P/ASX 200 Index closed 27 points down to finish at 5,471. On the futures market the SPI is 1 point down. 
 
Currencies

The Australian Dollar at 7:20AM was buying 76.94 US cents, 50.02 Pence Sterling, 95.61 Yen and 68.21 Euro cents.
 
Economic news

The Australian Bureau of Statistics will release March quarter GDP with expectations of around 0.7 per cent growth for the period. 

Company news
 
Seven West Media Limited (ASX:SWM) has reaffirmed 2015 financial year guidance at between $205 and $215 million. Seven says it has delivered a strong ratings year on the back of key franchise programming. Olympic sponsorship packages also helped the bottom line. 
Shares in Seven West Media closed 11.4 per cent lower yesterday at $1.05. 
 
AGL Energy limited (ASX:AGL) has appointed Jeni Coutts to the newly created role of Executive General Manager for Stakeholder Relations. The People and Culture executive position will be filled by Daniel Cram and John Fitzgerald will replace Paul McWilliams as company secretary. 
Shares in AGL Energy ended 0.13 per cent lower at $15.53 yesterday. 
 
Ex-dividends

Five companies are going ex-dividend today: Gentrack Group Ltd (ASX: GTK) will pay 3.86cents with 25 per cent franking. Newhaven Hotels Limited (ASX:NHH) will pay 3 cents fully franked, Ozforex Group Limited (ASX:OFX) will pay 3.58 cents fully franked, Transmetro Corporation Limited (ASX:TCO) will pay 5 cents fully franked while Tower Limited (ASX:TW) will pay 6.75 cents with no franking. 
 
Commodities

Gold has jumped $4 to $US1,178 an ounce for the August contract on Comex. Silver is steady at $15.96 for July. Copper has risen 2 cents to $2.71 a pound. Oil is up $2.00 to US$60.14 a barrel for July light crude in New York.

Subscribe to our Daily Newsletter?

Would you like to receive our daily news to your inbox?