Outlook: Aus shares set to open lower

Market Reports

Following weak leads, the Australian share market looks set to open lower. Rumbles of a global slowdown pushed Wall Street to endure its worst start to a new year since 2008. Weak economic data out of China spooked international investors, exacerbated by a suspension of the Chinese market as the PBOC fixed the yuan at a 4-1/2 year low.  

Markets
 
Wall Street closed lower yesterday: The Dow Jones Industrial Average lost 1.6 per cent to close at 17,149, the S&P 500 lost 1.5 per cent to close at 2,013 and the NASDAQ lost 2.1 per cent to close at 4,903.
 
European markets closed lower: London’s FTSE lost 2.4 per cent, Paris lost 2.5 per cent and Frankfurt lost 4.3 per cent.
 
Asian markets closed lower: Tokyo’s Nikkei lost 3.1 per cent, Hong Kong’s Hang Seng lost 2.7 per cent, and China’s Shanghai Composite lost 6.9 per cent.
 
The Australian share market closed lower yesterday: The S&P/ASX 200 Index closed 25 points down to finish at 5,270. On the futures market the SPI is 34 points down. 

Currencies
 
The Australian Dollar at 8:20AM was buying $US0.7190 cents, 48.84 Pence Sterling, 85.85 Yen and 66.38 Euro cents.

Company news
 
Metro Mining Limited (ASX:MMI) has received the final cash installment of $550,000 for the sale of its Hey Point tenements to Green Coast Resources Pty Limited. Total consideration of the sale was $1.075 million. Shares in Metro Mining Limited closed 8.33 per cent lower yesterday at $0.055.  
 
FAR Limited (ASX:FAR) has delivered a successful appraisal well from its Senegal Drilling project.  The SNE-2 appraisal well delivered a positive result after being drilled, cored, logged and flow tested. The company continues to evaluate the oil field reservoir quality. Shares in FAR Limited last traded at $0.083.  

Ex-dividends

Name Code Date Amount(cents) Franking
Programmed PRG 5/01/16 6.5 100
Thorn Group Limited TGA 5/01/16 5.5 100
Commodities

Gold has gained $13.50 to $US1,074 an ounce for the February contract on Comex.
Silver has gained $0.05 to $13.86 for March.
Copper has lost $0.06 to $2.08 a pound.
Oil has lost $0.13 to $US36.91 a barrel for February light crude in New York.
Following weak leads, the Australian share market looks set to open lower. Rumbles of a global slowdown pushed Wall Street to endure its worst start to a new year since 2008. Weak economic data out of China spooked international investors, exacerbated by a suspension of the Chinese market as the PBOC fixed the yuan at a 4-1/2 year low.  

Markets
 
Wall Street closed lower yesterday: The Dow Jones Industrial Average lost 1.6 per cent to close at 17,149, the S&P 500 lost 1.5 per cent to close at 2,013 and the NASDAQ lost 2.1 per cent to close at 4,903.
 
European markets closed lower: London’s FTSE lost 2.4 per cent, Paris lost 2.5 per cent and Frankfurt lost 4.3 per cent.
 
Asian markets closed lower: Tokyo’s Nikkei lost 3.1 per cent, Hong Kong’s Hang Seng lost 2.7 per cent, and China’s Shanghai Composite lost 6.9 per cent.
 
The Australian share market closed lower yesterday: The S&P/ASX 200 Index closed 25 points down to finish at 5,270. On the futures market the SPI is 34 points down. 

Currencies
 
The Australian Dollar at 8:20AM was buying $US0.7190 cents, 48.84 Pence Sterling, 85.85 Yen and 66.38 Euro cents.

Company news
 
Metro Mining Limited (ASX:MMI) has received the final cash installment of $550,000 for the sale of its Hey Point tenements to Green Coast Resources Pty Limited. Total consideration of the sale was $1.075 million. Shares in Metro Mining Limited closed 8.33 per cent lower yesterday at $0.055.  
 
FAR Limited (ASX:FAR) has delivered a successful appraisal well from its Senegal Drilling project.  The SNE-2 appraisal well delivered a positive result after being drilled, cored, logged and flow tested. The company continues to evaluate the oil field reservoir quality. Shares in FAR Limited last traded at $0.083.  

Ex-dividends

Name Code Date Amount(cents) Franking
Programmed PRG 5/01/16 6.5 100
Thorn Group Limited TGA 5/01/16 5.5 100
Commodities

Gold has gained $13.50 to $US1,074 an ounce for the February contract on Comex.
Silver has gained $0.05 to $13.86 for March.
Copper has lost $0.06 to $2.08 a pound.
Oil has lost $0.13 to $US36.91 a barrel for February light crude in New York.