The Australian share market looks set to resume the week’s descent following negative global leads. US investors absorbed mixed earnings results as weekly jobless claims dropped to a 42 year low. The data has pushed the Australian dollar lower while across commodity markets the price of iron ore and oil have continued to decline.
Global markets
Wall Street ended near session lows on Thursday: The Dow Jones Industrial Average fell 0.7 per cent to close at 17,732, the S&P 500 fell 0.6 per cent to close at 2,102 and the Nasdaq fell 0.5 per cent to close at 5,146.
European markets finished mixed on Thursday: London's FTSE 100 slipped 0.2 per cent, France's CAC 40 firmed 0.08 per cent and Germany's DAX dropped 0.07 per cent.
Asian markets gained ground on Thursday: Japan’s Nikkei rose 0.4 per cent, Hong Kong’s Hang Seng increased 0.5 per cent, and China’s Shanghai Composite climbed 2.4 per cent.
The Australian share market traded in the red and ended 0.4 per cent lower yesterday: The S&P/ASX 200 index closed 24 points lower at 5,590 on Thursday. On the futures market the SPI is 19 points lower.
Currencies
The Australian dollar at 7:30am was buying $US0.7354, 47.4 Pence Sterling, 91.13 Yen and 66.96 Euro cents.
Company news
Mesoblast Limited
(ASX:MSB) says the results of the Phase 2 trial of its intravenously-delivered Mesenchymal Precursor Cells for the treatment of type 2 diabetes have been published online. The trial investigator and co-author says the group is very encouraged by the safety profile and suggestion of efficacy of Mesoblast's cell therapy in patients with type 2 diabetes.The news comes ahead of a full print in the peer-reviewed journal of the American Diabetes Association, Diabetes Care. Shares in Mesoblast rose 0.25 per cent to close at $3.94 on Thursday.
Anteo Diagnostics Limited
(ASX:ADO) has extended its relationship with US listed Sigma-Aldrich Corporation (NASDAQ:SIAL). Under the deal Anteo’s Mix&Go product range will be offered through the Sigma-Aldrich network and online catalog. Anteo says the acceptance of Mix&Go by a respected party such as Sigma-Aldrich provides great commercial validation to its technology. Shares in Anteo Diagnostics gained 3.41 per cent to close at $0.091 on Thursday.
Commodities
Gold has risen $2.60 to $US1,094 an ounce for the August contract on Comex.
Silver has slipped $0.10 to $14.63 for September.
Copper has eased $0.04 to $2.39 a pound.
Oil has lost $0.74 to $US48.45 a barrel for September light crude in New York.
