Following weak leads from both Wall Street and Europe, the Australian share market looks set to open lower.
European stocks fell 3 percent as ECB President Mario Draghi failed to deliver as much as markets had priced in at its monthly meeting. The European Central Bank cut its deposit interest rate to -0.3 percent. Mr Draghi also announced the central bank would extend its bond buying facility to March 2017.
US stocks also slipped in afternoon trade on central bank activity. US weekly jobless claims rose to 269,000 for the week ended 28 November. Nonetheless data released by the Labor Department remains at historically low levels. Meanwhile the US services sector slowed its pace of growth but remains in positive territory in data released for November.
Markets
Wall Street closed lower yesterday: The Dow Jones Industrial Average lost 1.4 per cent to close at 17,478, the S&P 500 lost 1.4 per cent to close at 2,050 and the NASDAQ lost 1.7 per cent to close at 5,038.
European markets closed lower: London’s FTSE lost 2.3 per cent, Paris lost 3.6 per cent and Frankfurt lost 3.6 per cent.
Asian markets closed mixed: Tokyo’s Nikkei added 0.01 per cent, Hong Kong’s Hang Seng lost 0.3 per cent, and China’s Shanghai Composite gained 1.35 per cent.
The Australian share market closed lower yesterday: The S&P/ASX 200 Index closed 31 points down to finish at 5,228. On the futures market the SPI is 67 points down.
Currencies
The Australian Dollar at 8:20AM was buying $US0.7358cents, 48.57 Pence Sterling, 90.15 Yen and 67.24 Euro cents.
Economic news
Due out today from the Australian Bureau of Statistics is Retail Sales data for October. Markets expect sales to grow 0.5 percent from 0.4 percent in September. The ABS will also release overseas arrival and departure numbers for October
Company news
APN Outdoor Group Limited
(ASX:APO) has entered into a purchase agreement with Adspace Outdoor Pty Limited. The acquisition secures 11 large format billboards and three development locations for up to five further large format billboards in Victoria. The advertising services company noted the acquisition represents a revenue opportunity of up to $2.4 million per annum. Shares in APN Outdoor Group closed 2.03 per cent up yesterday at $5.54.
PBD Developments Limited
(ASX:PBD) has broadened its board with the appointment of Mr Arthur George Dew as a non-executive director. The property developer also appointed Mr Mark Won Tai Chun as Arthur’s alternative to the board. Shares in PBD Developments closed flat yesterday at $0.009.
Ex-dividends | Name | Code | Date | Amount(cents) | Franking |
| Evolve Education Grp | EVO | 4/12/15 | 2.2 | 0 |
| Neptune Marine | NMS | 4/12/15 | 8.0 | 100 |
Commodities
Gold has gained $7.80 to $US1,062 an ounce for the February contract on Comex.
Silver has gained $0.06 to $14.06 for March.
Copper has gained $0.03 to $2.06 a pound.
Oil has gained $1.30 to $US41.24 a barrel for January light crude in New York.
