US stock shilly-shallied in a day of narrow trade ahead of important US jobs data due on Friday. That has give the local market little direction with expectations the market will open slightly down today.
After the biggest rise in jobless claims in eight months last week, US investors are look to the key US non-farm payrolls report for further clues towards the next Federal Reserve decision on interest rates due in December.
Markets
Wall Street closed slightly lower yesterday: The Dow Jones Industrial Average lost 0.02 per cent to close at 17,864 the S&P 500 shed 0.1 per cent to close at 2,100 and the NASDAQ slipped 0.3 per cent to close at 5,128.
European markets closed mixed: London’s FTSE dipped 0.75 per cent, Paris added 0.6 per cent and Frankfurt advanced 0.4 per cent.
Asian markets also closed mixed: Tokyo’s Nikkei added 1 per cent, Hong Kong’s Hang Seng dipped 0.01 per cent, and China’s Shanghai Composite gained 1.8 per cent.
The Australian share market closed lower yesterday: The S&P/ASX 200 Index closed 49 points down to finish at 5,193. On the futures market the SPI is 11 points down.
Currencies
The Australian Dollar at 8:20AM was buying 71.46 US cents, 47.03 Pence Sterling, 86.99 Yen and 65.71 Euro cents.
Economic news
Due out today from the RBA is its monthly statement on monetary policy.
Company news
Armour Energy Limited
(ASX:AJQ) says Westside has withdrawn its takeover offer saying Armour’s approval of agreements with American Energy Partners over the Northern Territory Farm-out is a breach of the bid conditions. Westside has formally withdrawn its offer effective th 5th of November. Shares in Armour Energy last traded 3.45 per cent lower at $0.14.
Warrnambool Cheese and Butter Factory Company Holdings
(ASX:WCB) has reported a half year net loss of $1.2 million after changing its financial year end to March 31. That’s over $18 million down on the same period last year with the decline blamed on falling global commodity prices and high raw milk costs. Shares in Warrnambool Cheese last traded 1.56 per cent higher at $9.75.
Ex-dividends One company is trading ex-dividend today: ANZ Banking Group Limited
(ASX:ANZ) will pay 95 cents per share fully franked.
Commodities
Gold has shed $2.10 to $US1,104 an ounce for the December contract on Comex. Silver has lost $0.09 to $14.96 for December. Copper has slipped $0.07 to $2.26 a pound. Oil has slipped $1.01 to US$45.31 a barrel for December light crude in New York.
