Outlook: Aus shares set for a soft start

Market Reports


Further concerns over the lack of resolution between Greece and its debtors continue to weigh on US markets with stocks there retreating from initial gains to end the session slightly lower.
 
Transport stocks were sharply down and well into correction territory. Many analysts see transport as a barometer of the health of the general economy however most experts are still tipping a September rate rise.    
 
Eurozone worries are expected to extend to the Australian market with the ASX eyeing a soft start. A large number of stocks are trading ex-dividend today which may also see selling across the sectors. 
 
US economic news 
 
The US Labor department is reporting that those who applied for unemployment benefits rose by 3,000 to 271,000 how ever layoffs remain low. 
 
And the Commerce Department says consumer spending jumped in May, up 0.9 per cent for its largest rise in six years as consumers spent up on new cars. 
 
Markets
 
Wall Street closed lower yesterday: The Dow Jones Industrial Average lost 0.4 per cent to close at 17,890, the S&P 500 lost 0.3 per cent to close at 2,102  and the NASDAQ shed 0.2 per cent to close at 5,112.
 
European markets closed mixed: London’s FTSE slipped 0.5 per cent, Paris dropped 0.1 per cent and Frankfurt was flat.
 
Asian markets closed lower: Tokyo’s Nikkei slipped 0.5 per cent, Hong Kong’s Hang Seng retreated nearly one per cent, and China’s Shanghai Composite tumbled 3.5 per cent.
 
The Australian share market closed lower yesterday: The S&P/ASX 200 Index closed 54 points down to finish at 5,633. On the futures market the SPI is 6 points down.  
 
Currencies

The Australian Dollar at 7:30AM was buying 77.39 US cents, 49.17 Pence Sterling, 95.69 Yen and 69.11 Euro cents.
 
Company news
 
Mayne Pharma Group Limited (ASX:MYX) announced a successful US$125 million debt refinancing. The new dual currency facility is provided by two Australian banks and will mature in June 2020. The new deal will lower costs and provide more flexibility. Shares in Mayne Pharma last traded 2.37 per cent lower at $1.03. 
 
And Folkestone Limited (ASX:FLK) says that its 25 per cent interest in the Central Square project in West Ryde is selling like hotcakes and it expects settlement 8 months ahead of schedule with a significantly higher return than anticipated. Folkestone expects an outperformace fee of $1.5 million for the project. Other developments are also progressing well ahead of schedule. Shares in Folkestone last traded 2.38 per cent higher at $0.215. 
 
Commodities 
 
Gold has slipped $1.10 to $US1,172 an ounce for the August contract on Comex. Silver has dropped 5c to $15.84 for July. Copper is flat at $2.62 a pound. Oil has shed $0.63 to $US59.64 a barrel for August light crude in New York.
 
 
 
Ardent Leisure Group             ASX     AAD    5.5       0
Aurora Absolute                       ASX     ABW    0.98     0
Aurora Glb Trust                      ASX     AIB      2.12     0
Astro Jap Prop Group             ASX     AJA     16        0
Asia Pacific Data                     ASX     AJD     2.3       0
Aust Industrial REIT                ASX     ANI      9.6       0
Aurora Div Income                  ASX     AOD    0.44     0
Aveo Group                              ASX     AOG    5          0
APA Group                               ASX     APA     20.5     0
Aims Pror Sec Fund               ASX     APW    0.0934 0
Aspen Group                           ASX     APZ     4.5       0
Arena REIT.                             ASX     ARF     2.55     0
Aurora Property                      ASX     AUP    11        0
Australian Enhanced             ASX     AYF     10        30.54
Brookfield Prime                     ASX     BPA     2          0
BWP Trust                                ASX     BWP    8.1       0
Carindale Property                 ASX     CDP    17.75
Charter Hall Group                 ASX     CHC    12.1
Centuria Metro REIT              ASX     CMA    4.16
Cromwell Prop                        ASX     CMW   1.9925
Charter Hall Retail                  ASX     CQR    13.8
Capilano Honey Ltd               ASX     CZZ     37.5
Duet Group                              ASX     DUE    8.75
Dexus Property Group           ASX     DXS    21.36
Emerging Master Fund           ASX     EMF    3
Elanor Investors Grp               ASX     ENN    6.55
Ethane Pipeline                       ASX     EPX     3.25
Federation Cntres                   ASX     FDC    8.5
Folkestone Edu Trust             ASX     FET     3.225
GDI Property Grp                      ASX     GDI     3.75
Gen Healthcare REIT              ASX     GHC    4.38
Galileo Japan Trust                 ASX     GJT     8.2
Gpt Metro Office Fnd               ASX     GMF    10.15
Goodman Group                     ASX     GMG   11.1
Growthpoint Property             ASX     GOZ    9.9
GPT Group                               ASX     GPT    11
Industria REIT                          ASX     IDR      7.84
Investa Office Fund                 ASX     IOF      9.7
ALE Property Group               ASX     LEP     8.45
Mirvac Group                           ASX     MGR   4.9
National Storage                     ASX     NSR    4.2
Reef Casino Trust                   ASX     RCT    13
Rural Funds Group                 ASX     RFF     2.1475
Rfm Poultry                              ASX     RFP     2.5125
SCA Property Group              ASX     SCP    5.8
Stockland                                 ASX     SGP    12
SYD Airport                              ASX     SYD    12.5     0
Transurban Group                  ASX     TCL     20.5     17.07
360 Capital Grp                       ASX     TGP    1.4795 0
360 Cap Indust Fund              ASX     TIX      6.0663 0
360 Capital Office F                ASX     TOF     4.25     0
360 Capital Total Re               ASX     TOT     2.81     0
Us Masters Res Fund             ASX     URF    5          0