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 |