Following weak leads, the Australian share market looks set to open flat. With earnings season underway in the US, a disappointing forecast by Walmart led retailers lower. JPMorgan Chase results also dragged on financial stocks as earnings fell short of estimates.
Soft US retail sales also weighed on Wall Street. The Commerce Department reported weaker-than-expected US retail sales growth of 0.1 percent.
Wall Street closed lower yesterday: The Dow Jones Industrial Average lost 0.9 per cent to close at 16,925, the S&P 500 lost 0.5 per cent to close at 1,994 and the NASDAQ lost 0.3 per cent to close at 4,783.
European markets closed lower: London’s FTSE lost 1.15 per cent, Paris lost 0.7 per cent and Frankfurt lost 1.2 per cent.
Asian markets closed lower: Tokyo’s Nikkei lost 1.9 per cent, Hong Kong’s Hang Seng lost 0.7 per cent, and China’s Shanghai Composite lost 0.9 per cent.
The Australian share market closed lower yesterday: The S&P/ASX 200 Index closed 6 points down to finish at 5,197. On the futures market the SPI is 1 point down.
The Australian Dollar at 8:30AM was buying $US0.7305cents, 47.21 Pence Sterling, 86.78 Yen and 63.65 Euro cents.
The Australian Bureau of Statistics will provide a snapshot of Australia’s labour market. Market insiders anticipate the jobless rate may hold steady at 6.2 percent. Also due for release today is New Car Sales figures for September.
Ausdrill Limited (ASX:ASL) wholly owned subsidiary African Mining Services has been appointed as a preferred contractor by Kefi Minerals. The estimated contract value is US$300 million over the life of mine of approximately 10 years. AMS will act as the preferred contractor for mine establishment and operation at the Tulu Kapi Gold Project in Ethiopia. Shares in Ausdrill Limited 2.28 per cent up yesterday at $0.37.
Cardno Limited (ASX:CDD) has advised investors that shares issued in relation to the acquisition of Geotech Materials Testing Services Pty Limited will be released from escrow on 2 November 2015. 283,464 ordinary shares were issued on 2 May 2014 with a voluntary escrow period of 18 months. Shares in Cardno Limited closed 2.73 per cent lower yesterday at $2.85. Ex-dividends
| Name || Code || Date || Amount(cents) || Franking |
| K & S Corporation || KSC || 15/10/15 || 3.5 || 100 |
Gold has gained $18.50 to $US1,184 an ounce for the December contract on Comex.
Silver has gained $0.21 to $16.12 for December.
Copper has gained $0.03 to $2.42 a pound.
Oil has lost $0.38 to $US46.77 a barrel for November light crude in New York.