Following positive leads, the Australian share market looks set to open higher. Despite early trepidation in global markets following the weekend attacks in Paris, US stocks rose more than 1 percent at Monday’s close, led by energy shares.
Meanwhile the Australian dollar has borne the brunt of investor nervousness. The local currency has slipped back below US71cents.
Markets
Wall Street closed up yesterday: The Dow Jones Industrial Average gained 1.4 per cent to close at 17,483, the S&P 500 added 1.5 per cent to close at 2,053 and the NASDAQ gained 1.15 per cent to close at 4,985.
European markets closed mixed: London’s FTSE gained 0.5 per cent, Paris lost 0.08 per cent and Frankfurt gained 0.05 per cent.
Asian markets closed mixed: Tokyo’s Nikkei lost 1 per cent, Hong Kong’s Hang Seng lost 1.7 per cent, and China’s Shanghai Composite gained 0.7 per cent.
The Australian share market closed lower yesterday: The S&P/ASX 200 Index closed 47 points down to finish at 5,004. On the futures market the SPI is 66 points up.
Currencies
The Australian Dollar at 8:20AM was buying $US0.7097 cents, 46.69 Pence Sterling, 87.44 Yen and 66.43 Euro cents.
Economic news
Investors will be watching for the release of the Reserve Bank’s meeting minutes from its November board meeting.
Company news
Fonterra Shareholders Fund
(ASX:FSF)'has welcomed the formal approval by the shareholders of Beingmate Baby and Child Food Company Limited to establish a joint venture to purchase their Co-operative’s Darnum plant in Australia. The joint venture will manufacture nutritional powders. Including infant formula and other nutritional milk powders. Beingmate will own 51 percent of the joint venture and Fonterra will retain a 49 percent stake, and run the plant operation. Shares in Fonterra closed 1.82 per cent up yesterday at $5.04
Meridian Energy Limited
(ASX:MEZ) wholly owned subsidiary Powershop New Zealand has entered into a franchise licence agreement with UK-based RWE npower. The agreement gives Powershop access to the UK domestic electricity and gas markets without carrying wholesale energy market exposure. Shares in Meridian Energy last traded at $2.00.
Ex-dividends | Name | Code | Date | Amount(cents) | Franking |
| ResMed Inc. | RMD | 17/11/15 | 2.9 | 0 |
| Tamawood Limited | TWD | 17/11/15 | 15.0 | 100 |
Commodities
Gold has gained $0.60 to $US1,082 an ounce for the December contract on Comex.
Silver has gained $0.03 to $14.23 for December.
Copper has lost $0.05 to $2.13 a pound.
Oil has gained $0.93 to $US42.93 a barrel for December light crude in New York.
