Disappointing earnings results and nervousness ahead of the latest official US jobs numbers due Friday dragged Wall Street lower yesterday, giving the Australian share market a negative lead.
Markets
Wall Street closed lower yesterday: The Dow Jones Industrial Average slipped 0.7 per cent to close at 17,420, the S&P 500 slid 0.8 per cent to close at 2,084 and the NASDAQ lost 1.6 per cent to close at 5,056.
European markets closed slightly lower: London’s FTSE dipped 0.1 per cent, Paris lost 0.1 per cent and Frankfurt retreated 0.4 per cent.
Asian markets were mixed: Tokyo’s Nikkei added 0.2 per cent, Hong Kong’s Hang Seng dipped 0.6 per cent, and China’s Shanghai Composite down 0.9 per cent.
The Australian share market closed lower yesterday: The S&P/ASX 200 Index closed 64 points down to finish at 5,610. On the futures market the SPI is 36 points lower.
Currencies
The Australian Dollar at 7:20AM was buying 73.45 cents, 47.36 Pence Sterling, 91.61 Yen and 67.26 Euro cents.
Economic news
Australian Bureau of Statistics will release housing finance numbers for June and the AIG Construction Index is also due today.
Company news Rio Tinto Limited
(ASX:RIO) has upped its dividend despite a 4.3 per cent drop in its underlying profit. Half yearly profit came in at $US2.9 billion. The company will pay a dividend of $US1.075, 12 per cent higher than last year’s interim dividend. Net debt was up by $US1.2 billion. Shares in Rio Tinto last traded 1.08 per cent higher at $53.55.
Northern Minerals Limited
(ASX:NTU) says that the Foreign Investment Review Board will allow Chinese firm Jien Mining to proceed with its $49.5 million investment in Northern. Final approval from China can now be progressed. Shares in Northern Minerals last traded flat at $0.15.
Ex-dividends Three companies are going ex-dividend today: Australian Foundation Investment Co. Limited
(ASX:AFI) will pay 14 cents fully-franked, OzGrowth Limited
(ASX:OZG) will pay 0.75 cents fully-franked and Westoz Investment Company Limited
(ASX:WIC) will pay 4.5 cents fully-franked.
Commodities
Gold has added $3.40 to US$1,089 an ounce for the December contract on Comex. Silver has added 7 cents to $14.63 for September. Copper has added less than a cent to $2.34 a pound. Oil has slipped $0.31 to $44.84 a barrel for September light crude in New York.
