The local sharemarket is expected to open lower amid losses across global markets. European shares hit a 16 month low on concerns over global growth and the outlook for banks. Shares on Wall Street managed to pare back some losses, following a late rally in energy stocks.
Wall Street closed lower yesterday: The Dow Jones Industrial Average lost 1.1 per cent to close at 16,027, the S&P 500 lost 1.4 per cent to close at 1,853 and the NASDAQ lost 1.8 per cent to close at 4,284.
European markets closed lower: London’s FTSE fell 2.7 per cent, Paris lost 3.2 per cent and Frankfurt lost 3.3 per cent.
Asian markets closed up: Tokyo’s Nikkei added 1.1 per cent, Hong Kong’s Hang Seng and China’s Shanghai Composite were closed.
The Australian share market closed lower yesterday: The S&P/ASX 200 Index closed 1 point down to finish at 4,975. On the futures market the SPI is 64 points down.
Tthe Australian Dollar at 8:40AM was buying $US0.7093 cents, 49.16 Pence Sterling, 82.14 Yen and 63.37 Euro cents.
Due out today from the National Australia Bank is the lender’s business survey for January.
Nick Scali Limited (ASX:NCK)
reported a record net profit after tax of $14.1 million for the half year to 31 December 2015, an increase of 41 percent on the previous corresponding period. The furniture retailer said profit growth was driven by a 32 percent increase in sales revenue to $102.5 million for the half year. Shares in Nick Scali closed 0.73 per cent up yesterday at $4.12.
Praemium Limited (ASX:PPS)
reported a 35 percent increase in revenue and other income of $14.7 million in the half year ending 31 December 2015. The investment tool provider recorded EBITDA of $1.85 million, a 93 percent increase on H1 FY15. Shares in Praemium closed 2.82 per cent up yesterday at $0.37.
2 companies are going ex-dividend today: ResMed will pay 3.04 cents unfranked. Meanwhile TABCORP Holdings will pay a dividend of 12 cents fully franked.
Gold has gained $33.60 to $US1,191 an ounce for the February contract on Comex.
Silver has gained $0.57 to $15.35 for March. Copper has lost $0.01 to $2.09 a pound.
Oil has lost $0.72 to $US30.17 a barrel for March light crude in New York.