The Australian sharemarket is expected to open higher on this penultimate day of the trading week following positive overseas lead. Shares on Wall Street recorded their first three-day rally of the year. Energy shares pumped US stocks higher on optimism over oil price action.
The Fed pulled back to neutral from hawkish in the FOMC meeting minutes for January. The Fed held its benchmark short-term interest rate steady at its last meeting but did highlight concern that tighter global financial conditions could create downside risks for the US economy.
Markets
Wall Street closed up yesterday: The Dow Jones Industrial Average gained 1.6 per cent to close at 16,454, the S&P 500 added 1.65 per cent to close at 1,927 and the NASDAQ gained 2.2 per cent to close at 4,534.
European markets closed up: London’s FTSE gained 2.9 per cent, Paris gained 3 per cent and Frankfurt rose 2.65 per cent.
Asian markets closed mixed: Tokyo’s Nikkei fell 1.4 per cent, Hong Kong’s Hang Seng lost 1 per cent, and China’s Shanghai Composite gained 1.1 per cent.
The Australian share market closed lower yesterday: The S&P/ASX 200 Index closed 28 points down to finish at 4,882. On the futures market the SPI is 66 points up.
Currencies
The Australian Dollar at 8:30AM was buying $US0.7185 cents, 50.29 Pence Sterling, 81.92 Yen and 64.6 Euro cents.
Economic news
Due out today from the Australian Bureau of Statistics is labour force data including Employment Change and the Unemployment Rate for January.
Company news
Webjet Limited
(ASX:WEB) has announced 28 percent growth in TTV and group EBITDA up in excess of 25 percent for the half year to 31 December 2015. Managing Director John Guscic said the company experienced significant market share growth in both its digital retail and digital wholesale division. Webjet maintains its full year market guidance of $33.4 million EBITDA. Shares in Webjet closed 5.89 per cent up yesterday at $5.21.
AMP Limited
(ASX:AMP) has reported a 10 percent increase in net profit to $972 million for the 12 months through December. AMP’s wealth protection business logged a 2 percent fall in earnings during what Chief executive officer Craig Meller acknowledged as challenging market conditions. AMP will pay a final dividend of 14 cents. Shares in AMP closed 0.58 per cent lower yesterday at $5.18.
Ex-dividends | Name | Code | Date | Amount(cents) | Franking |
| Computershare Ltd | CPU | 18/02/16 | 16.0 | 100 |
| CSG Limited | CSV | 18/02/16 | 4.0 | 0 |
| Contango Microcap | CTN | 18/02/16 | 2.6 | 50 |
| Century Australia | CYA | 18/02/16 | 1.9 | 100 |
| Suncorp Group Ltd | SUN | 18/02/16 | 30.0 | 100 |
Commodities
Gold has gained $1.90 to $US1,210 an ounce for the April contract on Comex.
Silver has lost $0.01 to $15.32 for March.
Copper has gained $0.02 to $2.07 a pound.
Oil has gained $2.21 to $US33.18 a barrel for March light crude in New York.
