Outlook: Aus shares set to open lower

Market Reports

Following weak leads, the Australian share market looks set to open lower. A fall in oil prices overnight dragged on energy shares, with Wall Street already under the pump ahead of tonight’s Federal Reserve meeting results.
 
US durable goods orders fell 1.2 percent in September. While the data released by the Commerce Department highlights a cooling in US factories, the number came in above consensus expectations of a 1.5 percent fall.

Meanwhile US home price growth strengthened in August. The S&P/Case-Shiller Home Price Index rose 4.7 percent in the 12 months ended in August.

US shoppers are not quite in the Christmas mood yet as the Conference Board’s index of consumer confidence fell to 97.6 in October from a revised read of 102.6 in September

Markets
 
Wall Street closed lower yesterday: The Dow Jones Industrial Average lost 0.2 per cent to close at 17,581, the S&P 500 lost 0.3 per cent to close at 2,066 and the NASDAQ closed flat at 5,030.
 
European markets closed lower: London’s FTSE lost 0.8 per cent, Paris lost 1 per cent and Frankfurt lost 1 per cent.
 
Asian markets closed mixed: Tokyo’s Nikkei lost 0.9 per cent, Hong Kong’s Hang Seng gained 0.1 per cent, and China’s Shanghai Composite gained 0.1 per cent.
 
The Australian share market closed lower yesterday: The S&P/ASX 200 Index closed 2 points down to finish at 5,346. On the futures market the SPI is 21 points down. 

Currencies
 
The Australian Dollar at 8:20AM was buying $US0.7195 cents, 47.06 Pence Sterling, 86.66 Yen and 65.16 Euro cents.
 
Economic news

All eyes will be on today’s Australian inflation report for September. The quarterly CPI report from the ABS is expected to come in at 0.7 percent quarter-on-quarter, leaving the annual rate at 1.7 percent.
 
Company news
 
WorleyParsons Limited (ASX:WOR) continues to focus on cost-cutting measures amidst a subdued market outlook. WorleyParsons CEO told shareholders the company expects market conditions to remain uncertain for at least the remainder of FY16. Shares in WorleyParsons closed 6.21 per cent lower yesterday at $6.65.
 
Breville Group Limited (ASX:BRG) has announced the retirement of Sam Weiss as a Director of the company, effective from the conclusion of the company’s AGM on 11 November. Mr Weiss highlighted Breville’s establishment outside of Australia as a highlight during his seven year service. Shares in Breville closed 0.46 per cent lower yesterday at $6.55.  
 
Ex-dividends

Name Code Date Amount(cents) Franking
Aurora Div Income AOD 28/10/15 0.4 120
Clover Corporation CLV 28/10/15 0.5 100
 
Commodities

Gold has gained $0.80 to $US1,167 an ounce for the December contract on Comex.
Silver has lost $0.04 to $15.87 for December.
Copper has gained $0.01 to $2.37 a pound.
Oil has lost $0.59 to $US43.39 a barrel for December light crude in New York.