Following a lacklustre session in Wall Street, the Australian share market looks set to open flat. US indices closed just marginally in the green, despite a sell-off in energy stocks and fresh concerns about Chinese economic growth.
US economic news
Homebuilder confidence hit a decade high. The National Association of Home Builders/Wells Fargo sentiment gauge increased to 64 in October, from 61 in September.
Markets
Wall Street closed up yesterday: The Dow Jones Industrial Average gained 0.1 per cent to close at 17,231, the S&P 500 added 0.03 per cent to close at 2,034 and the NASDAQ gained 0.4 per cent to close at 4,905.
European markets closed mixed: London’s FTSE lost 0.4 per cent, Paris gained 0.03 per cent and Frankfurt gained 0.6 per cent.
Asian markets closed mixed: Tokyo’s Nikkei lost 0.9 per cent, Hong Kong’s Hang Seng gained 0.04 per cent, and China’s Shanghai Composite lost 0.1 per cent.
The Australian share market closed higher yesterday: The S&P/ASX 200 Index closed 2 points up to finish at 5,270. On the futures market the SPI is steady.
Currencies
The Australian Dollar at 8:20AM was buying $US0.7252cents, 46.91 Pence Sterling, 86.67 Yen and 64.04 Euro cents.
Economic news
The Reserve Bank of Australia will provide a snapshot look at the board’s current bias with the release of its monthly meeting minutes. Also scheduled for release today is the ANZ-Roy Morgan weekly consumer confidence survey and the Commonwealth Bank business sales indicator for September.
Company news
Aspen Group
(ASX:APZ) proposed merger partner Aspen Parks Property Fund has advised shareholders not to take action in relation to an invitation by Discovery Parks to sell their securities. APPF IBC said that correspondence with Discovery Parks has confirmed the company’s intention to be in a position to influence or block the current merger proposal between APPF and Aspen Group. Shares in Aspen Group closed flat yesterday at $1.40.
WAM Research Limited
(ASX:WAX) has raised $7.23 million through a placement to wholesale investors. The placement was offered at the dividend reinvestment plan price of $1.1932. WAM Research Chairman Geoff Wilson said a larger capital structure will increase the company’s liquidity and relevance in the market. Shares in WAM Research Limited are in a trading halt, last trading at $1.21.
Ex-dividends | Name | Code | Date | Amount(cents) | Franking |
| Blue Sky Alt Access | BAF | 20/10/15 | 3.0 | 100 |
| Cadence Capital | CDM | 20/10/15 | 6.0 | 100 |
| Naos Emerg Opp | NCC | 20/10/15 | 3.0 | 100 |
Commodities
Gold has lost $12.50 to $US1,171 an ounce for the December contract on Comex.
Silver has lost $0.28 to $15.83 for December.
Copper has lost $0.04 to $2.36 a pound. Oil has lost $1.15 to $US46.57 a barrel for November light crude in New York.
