Positive leads from Wall Street were led by a record closing high for the Nasdaq, this looks set to flow onto the local market where the SPI is pointing towards a reversal of yesterday’s losses.
The Aussie dollar has pushed higher overnight breaching the $US0.78, and the oil price has also pushed marginally higher.
Global figures
Wall Street closed higher yesterday: The Dow Jones Industrial Average gained 1 per cent to close at 18,116, the S&P 500 added 1 per cent to close at 2,121 and the NASDAQ pushed 1.3 per cent higher to close at a record high of 5,133.
European markets closed up: London’s FTSE is up 0.4 per cent, Paris gained 0.3 per cent and Frankfurt is 1.1 per cent higher.
Asian markets closed lower: Tokyo’s Nikkei lost 1.1 per cent, Hong Kong’s Hang Seng is down 0.2 per cent, and China’s Shanghai Composite dropped 3.7 per cent.
The Australian share market closed lower yesterday: The S&P/ASX 200 Index closed 71 points down to finish at 5,525. On the futures market the SPI is 39 points up.
Turning to currencies and the Australian Dollar at 7:20AM was buying $US0.7799 cents, 49.12 Pence Sterling, 95.88 Yen and 68.61 Euro cents.
Company news
Syrah Resources Limited
(ASX:SYR) was yesterday’s best performer on a positive assessment into the economics of a huge coated spherical graphite facility in the US. The Africa focused resource company says there’s strong demand from battery producers for the superior performance of its graphite. Managing Director Tolga Kumova says the development of the Balama Graphite Project remains the company’s primary and immediate focus. Shares in Syrah closed 10.22 per cent up yesterday at $4.10
Online lottery seller Jumbo Interactive Limited
(ASX:JIN) has expanded its portfolio adding three new charity lotteries. The company says it will make games available from The Surf Life Saving Foundation, Act for Kids and The Prince of Wales Hospital Foundation, on its Australian online lottery website. Shares in Jumbo Interactive closed flat at $0.92
Commodities
Gold has gained $25.10 to $US1,201 an ounce for the August contract on Comex.
Silver is up $0.20 to $16.13 for July.
Copper is up $0.01 to $2.63 a pound.
Oil has pushed $0.53 higher to $US60.47 a barrel for July light crude in New York.
