Following negative overseas leads, the Australian share market looks set to open lower today following a loss of 2 percent on Tuesday.
Wall Street had a shocker of a day as all three major US indices closed down more than 2.8%. China was once again the driving force, as manufacturing data reported its biggest contraction since 2012. These numbers compounded by poor manufacturing reads from both France and the US.
The pace of growth in the US Manufacturing sector hit its lowest read in over two years. ISM’s guage of national factory activity fell to 51.1 in August from 52.7 the month before, coming in lower than expectations.
Markets
Wall Street closed lower yesterday: The Dow Jones Industrial Average lost 2.8 per cent to close at 16,058, the S&P 500 lost nearly 3 per cent to close at 1,914 and the NASDAQ lost 2.9 per cent to close at 4,636.
European markets closed lower: London’s FTSE lost 3 per cent, Paris lost 2.4 per cent and Frankfurt lost 2.4 per cent.
Asian markets closed lower: Tokyo’s Nikkei lost 3.8 per cent, Hong Kong’s Hang Seng lost 2.2 per cent, and China’s Shanghai Composite down 1.2 per cent.
The Australian share market closed lower yesterday: The S&P/ASX 200 Index closed 111 points down to finish at 5,096. On the futures market the SPI is 62 points down.
Currencies
The Australian Dollar at 7:20AM was buying $US0.7015 cents, 45.87 Pence Sterling, 83.69 Yen and 61.99 Euro cents.
Economic news
Due out today from the Australian Bureau of Statistics is GDP for the June quarter, with expectations of a 0.4 percent growth.
Air New Zealand Limited
(ASX:AIZ) has received government approval for a joint venture with Air China. Air capacity between Auckland and Mainland China is expected to increase by more than 25 percent year round, with the launch of a new daily direct route between Auckland and Beijing. Air New Zealand’s CEO Christopher Luxon says the relationship will help deepen tourism and business connections between the two countries. Shares in Air New Zealand closed 1.79 per cent lower yesterday at $2.20.
Empire Oil & Gas Limited
(ASX:EGO) has announced it will be sharpening its exploration focus on its core North Perth Basin acreage, with a farm-out agreement covering its South Perth Basin site. Under an agreement with Pilot Energy, Empire will maintain a 40 percent non-operated interest while Pilot Energy will assume operatorship, earning them a 60 percent equity. Empire is also preparing to drill at its Red Gully North well later this year. Shares in Empire Oil & Gas was steady yesterday at $0.004
Commodities
Gold is up $6.80 to $US1,139 an ounce for the December contract on Comex.
Silver is steady at $14.59 for December. Copper has lost $0.05 to $2.29 a pound
Oil has lost $5.00 to $US44.19 a barrel for December light crude in New York.
Dividends | Code | Name | Date | Amount (cents) | Franking |
| APX | Appen Limited | 2-Sep-15 | 1.2 | 100 |
| ASH | Ashley Services Grp | 2-Sep-15 | 4.1 | 100 |
| ASX | ASX Limited | 2-Sep-15 | 95.1 | 100 |
| AUI | Australian United In | 2-Sep-15 | 18.5 | 100 |
| BGA | Bega Cheese Ltd | 2-Sep-15 | 4.5 | 100 |
| BLD | Boral Limited | 2-Sep-15 | 9.5 | 100 |
| BLX | Beacon Lighting Grp | 2-Sep-15 | 2.4 | 100 |
| BPT | Beach Energy Limited | 2-Sep-15 | 0.5 | 100 |
| CMI | CMI Limited | 2-Sep-15 | 6 | 100 |
| DCG | Decmil Group Limited | 2-Sep-15 | 8.5 | 100 |
| DUI | Diversified United | 2-Sep-15 | 7.5 | 100 |
| DWS | DWS Ltd | 2-Sep-15 | 3.75 | 100 |
| ISD | Isentia Group Ltd | 2-Sep-15 | 3.8 | 0 |
| JIN | Jumbo Interactive | 2-Sep-15 | 1.5 | 100 |
| LHC | Lifehealthcare Grp | 2-Sep-15 | 7.5 | 0 |
| MIN | Mineral Resources. | 2-Sep-15 | 15 | 100 |
| MLD | MACA Limited | 2-Sep-15 | 7.5 | 100 |
| PEA | Pacific Energy | 2-Sep-15 | 1.5 | 100 |
| PGH | Pact Group Hldgs Ltd | 2-Sep-15 | 10 | 65 |
| SFC | Schaffer Corp. Ltd. | 2-Sep-15 | 13 | 100 |
| SKI | Spark Infrastructure | 2-Sep-15 | 6 | 0 |
| SKT | Sky Network | 2-Sep-15 | 13.49 | 0 |
| SPO | Spotless Grp Hld Ltd | 2-Sep-15 | 5.5 | 0 |
| SWM | Seven West Media Ltd | 2-Sep-15 | 4 | 100 |
| TWE | Treasury Wine Estate | 2-Sep-15 | 8 | 0 |
| WLL | Wellcom Group Ltd | 2-Sep-15 | 12 | 100 |
