US stocks have ended slightly lower as investors noted weaker oil and commodity prices and digested weak manufacturing numbers from China.
That is unlikely to provide much stimulus to spur the local market higher after yesterday’s sub 5000 close. Bargain hunters could drive the market slightly higher early in the trading day.
Markets
Wall Street closed lower yesterday: The Dow Jones Industrial Average lost 0.3 per cent to close at 16,280, the S&P 500 shed 0.2 per cent to close at 1,939 and the NASDAQ slipped 0.1 per cent to close at 4,753.
European markets closed up: London’s FTSE lifted 1.6 per cent, Paris was up by 0.1 per cent and Frankfurt advanced 0.4 per cent.
Asian markets closed lower: Tokyo’s Nikkei was closed for the Autumn Equinox, Hong Kong’s Hang Seng lost 2.3 per cent, and China’s Shanghai Composite slipped 2.2 per cent.
The Australian share market closed sharply lower yesterday: The S&P/ASX 200 Index closed 105 points down to finish at 4,998. On the futures market the SPI is up by 11 points.
Currencies
The Australian Dollar at 7:20AM was buying 70.09 US cents, 46.01 Pence Sterling, 84.28 Yen and 62.68 Euro cents.
In economic news: Due out today from the Australian Bureau of Statistics is population data for March and finance and wealth figures for the June quarter.
Company news
AWE Limited
(ASX:AWE) has spudded a second of two exploration wells in China. The low cost well is located around 10km southeast of Tanggu, the largest port in China. AWE is 40 per cent owner in the joint venture with ROC Oil holding the remaining 60 per cent. Shares in AWE last traded 2.05 per cent lower at $0.715.
And Vmoto Ltd
(ASX:VMT) has decided to off-load its electric vehicle controller business to concentrate on electric vehicle production. Vmoto will sell the Nanjing Haiyong business for approximately $440 thousand dollars and has reduced guidance for the 2015 calendar year to between $4million and $6 million dollars. Shares in Vmoto is currently in a trading halt and last traded at $0.30.
Ex-divs Two companies are going ex-dividend today: CI Resources Limited
(ASX:CII) will pay 5 cents fully franked and Nuplex Industries
(ASX:NPX) will pay 13 cents with no franking credits.
Commodities
Gold has added $4.70 to US$1,130 an ounce for the December contract on Comex. Silver has slipped 3 cents to $14.76 for December. Copper is flat at $2.30 a pound. Oil has slipped $1.76 to US$44.60 a barrel for November light crude in New York.
