Outlook: Aus shares set to open higher

Market Reports

Following positive leads, the Australian share market looks set to open higher on this Wednesday. Chinese investors shrugged off poor China export data prompting a late-session rebound. Buoyed by Asia’s broadly positive session, US stocks engaged in a sharp rally into the close, gaining more than 2 percent. 
 
On the local sharemarket, investors will be looking for hints as to the Reserve Bank’s monetary stance in comments from RBA Deputy Governor Philip Lowe as he speaks in Melbourne this afternoon. RBA Assistant Governor Guy Debelle will also deliver remarks later today at a conference in London. Aussie Dollar bulls will be sensitive to any hawkishness from these speeches. 

US economic news 
 
NFIB reported a modest rise in small-business owners’ confidence. The read lifted to 95.9 in August from 95.4 in July as owners shrugged off recent stock market negativity. US Consumer Credit rose again in July according to statistics released by the Federal Reserve. The US$19.1 billion increase in July beat analysts’ expectations.
 
Markets

Wall Street closed up yesterday: The Dow Jones Industrial Average gained 2.4 per cent to close at 16,493, the S&P 500 added 2.5 per cent to close at 1,969 and the NASDAQ gained 2.7 per cent to close at 4,812.
 
European markets closed up: London’s FTSE gained 1.2 per cent, Paris gained 1.1 per cent and Frankfurt gained 1.6 per cent.
 
Asian markets closed mixed: Tokyo’s Nikkei lost 2.4 per cent, Hong Kong’s Hang Seng gained 3.3 per cent, and China’s Shanghai Composite gained 2.9 per cent.
 
The Australian share market closed higher yesterday: The S&P/ASX 200 Index closed 85 points up to finish at 5,115. On the futures market the SPI is 42 points up. 
 
Currencies

The Australian Dollar at 7:20AM was buying $US0.7018 cents, 45.60 Pence Sterling, 84.12 Yen and 62.67 Euro cents.
 
Australian economic news

Due out today from Westpac is the consumer sentiment read for September, following an outstanding gain of 7.8%. Housing sentiment is also in focus today as the ABS provides a snapshot of the level of activity in the housing sector with Home Loans data July. 
 
Company news:
 
AusNet Services Limited (ASX:AST) confirmed it had reached an out-of-court settlement with the Australian Tax Office to resolve a dispute relating to intellectual property deductions claimed by the power firm. The out-of-court agreement eliminates a $27 million tax exposure and ensures no further significant relatable payments arise. AusNet Services confirms it has no other audit activity occurring with the ATO. Shares in AusNet Services Limited closed 1.15 per cent up yesterday at $1.315. 
 
Migme Limited (ASX:MIG) announced an agreement with leading Indian mobile technology company MoMagic Technologies Pvt. Ltd. Under the agreement, MoMagic will preload the migme app onto Android handsets through its retail network across India. Shares in migme are presently in a trading halt, pending an announcement regarding capital raising expected to be released prior to the commencement of trading on Friday. Shares in migme Limited last traded at $1.10
 
Commodities

Gold has lost $0.50 to $US1,121 an ounce for the December contract on Comex. Silver has gained $0.22 to $14.77 for December. Copper has gained $0.12 to $2.43 a pound. Oil has lost $0.32 to $US45.73 a barrel for October light crude in New York.

Ex-dividend

Name Code Date Amount(cents) Franking
Auswide Bank Ltd ABA 9/09/15 16.00 100
Air New Zealand AIZ 9/09/15 8.58 0
Bentley Capital Ltd BEL 9/09/15 0.50 100
BHP Billiton Limited BHP 9/09/15 85.71 100
Blue Sky Limited BLA 9/09/15 11.00 100
Brambles Limited BXB 9/09/15 14.00 30
ERM Power Limited EPW 9/09/15 6.00 33
FlexiGroup Limited FXL 9/09/15 9.00 100
Gr Engineering Ltd GNG 9/09/15 5.00 100
Intueri Edu Grp Ltd IQE 9/09/15 5.48 10.88
IRESS Limited IRE 9/09/15 16.00 50
Laserbond Limited LBL 9/09/15 0.20 100
Logicamms Limited LCM 9/09/15 3.50 50
Lifestyle Communit. LIC 9/09/15 1.50 100
Monadelphous Group MND 9/09/15 46.00 100
Monash IVF Group Ltd MVF 9/09/15 3.70 100
MyState Limited MYS 9/09/15 14.50 100
NIB Holdings Limited NHF 9/09/15 6.00 100
Pro Medicus Limited PME 9/09/15 1.00 0
Pacific Star Network PNW 9/09/15 1.05 100
Pental Ltd PTL 9/09/15 1.80 100
Sonic Healthcare SHL 9/09/15 41.00 55
Supply Network SNL 9/09/15 5.00 100
Templeton Global TGG 9/09/15 4.10 17.07
Tassal Group Limited TGR 9/09/15 7.00 50
Trade Me Group TME 9/09/15 7.63 0
UXC Limited UXC 9/09/15 3.60 100
Woolworths Limited WOW 9/09/15 72.00 100
XRF Scientific XRF 9/09/15 0.70 100
Automotive Holdings. AHG 10/09/15 13.00 100
Austal Limited ASB 10/09/15 3.00 100
Century Australia CYA 10/09/15 1.75 100
Healthscope Limited HSO 10/09/15 3.70 0
Mighty River Power MYT 10/09/15 11.32 0
Northern Star NST 10/09/15 3.00 100

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