Outlook: Aus shares set to open lower

Market Reports

Following weak leads, the Australian share market looks set to open lower. Stocks on Wall Street slipped into the close as utilities slid under the weight of interest rate expectations. The move sparks a turnaround from last week’s relief rally as investors remain cautious leading into the short Thanksgiving week.
 
Sales of existing homes fell 3.4 percent in October from a surge in the September read. US manufacturing activity also posted a loss as the manufacturing PMI fell to a two-year low in data released by Markit.

Markets
 
Wall Street closed lower yesterday: The Dow Jones Industrial Average lost 0.2 per cent to close at 17,793, the S&P 500 lost 0.1 per cent to close at 2,087 and the NASDAQ lost 0.05 per cent to close at 5,102.
 
European markets closed lower: London’s FTSE lost 0.5 per cent, Paris lost 0.4 per cent and Frankfurt 0.25 per cent.
 
Asian markets closed lower: Tokyo’s Nikkei was closed, Hong Kong’s Hang Seng lost 0.4 per cent, and China’s Shanghai Composite lost 0.6 per cent.
 
The Australian share market closed higher  yesterday: The S&P/ASX 200 Index closed 20 points up to finish at 5,276. On the futures market the SPI is 18 points down. 

Currencies
 
The Australian Dollar at 8:20AM was buying $US0.7191 cents, 47.57 Pence Sterling, 88.34 Yen and 67.66 Euro cents.

Economic news
 
Due out today is the ANZ-Roy Morgan weekly consumer confidence survey. Roy Morgan will also release the State of the Nation report. RBA Governor Glenn Stephens is also set to speak at the Australian Business Economists dinner in Sydney.
 
Company news
 
Air New Zealand Limited (ASX:AIZ) has recorded a 4.7 percent lift in passenger numbers to 1.14 million passengers carried in October. The airline noted a 48.8 percent increase in demand for routes to Asia, Japan and Singapore related to the new Auckland to Singapore route. Shares in Air New Zealand closed 1.16 per cent lower yesterday at $2.56.
 
PolyNovo Limited (ASX:PNV) securities have been placed in a trading halt at the request of the company, pending an announcement regarding capital raising. Shares are expected to recommence trading on Thursday 26 November or in the case of an announcement. Shares in PolyNovo last traded at $0.18.

Ex-dividends
 
Name Code Date Amount(cents) Franking
Duluxgroup Limited DLX 24/11/15 11.5 100

Commodities
 
Gold has lost $9.70 to $US1,067 an ounce for the December contract on Comex.
Silver has lost $0.01 to $14.12 for December.
Copper has lost $0.04 to $2.01 a pound.
Oil has lost $0.04 to $US41.86 a barrel for December light crude in New York.