Outlook: Aus shares set to open higher

Market Reports

The Australian share market is expected to move higher in this penultimate session following yesterday’s dire performance. US stocks rallied into the close as global markets and oil prices both showed signs of stabilising. 
 
US Services sector performance hit its worst read for 28 months. The Markit Flash Services PMI recorded 49.8 in February, down from 53.2 the previous month.
 
Markets

Wall Street closed up yesterday: The Dow Jones Industrial Average gained 0.3 per cent to close at 16,485, the S&P 500 added 0.4 per cent to close at 1,930 and the NASDAQ gained 0.9 per cent to close at 4,543.
 
European markets closed lower: London’s FTSE lost 1.6 per cent, Paris lost 2 per cent and Frankfurt lost 2.6 per cent.
 
Asian markets closed mixed: Tokyo’s Nikkei lost 0.85 per cent, Hong Kong’s Hang Seng lost 1.15 per cent, and China’s Shanghai Composite gained 0.9 per cent.
 
The Australian share market closed lower yesterday: The S&P/ASX 200 Index closed 105 points down to finish at 4,875. On the futures market the SPI is 31 points up. 

Currencies
 
The Australian Dollar at 8:30AM was buying $US0.7196 cents, 51.68 Pence Sterling, 80.73 Yen and 65.4 Euro cents.

Economic news

Due out today from the Australian Bureau of Statistics is private capital expenditure figures for the December quarter.

Company news
 
Air New Zealand Limited (ASX:AIZ) has announced net profit after taxation was $388 million, rocketing 154 percent in its half result. Air New Zealand said the interim result was driven by exceptionally strong passenger revenue growth, underpinned by over 16 percent capacity growth across the network. Air New Zealand will pay a fully imputed interim dividend of 10 cents per share. Shares in Air New Zealand closed 0.38 per cent up yesterday at $2.62. 
 
Australasian Wealth Management Limited (ASX:AWI) has appointed Ron Hodge as Chief Executive Officer and Managing Director of the AWI Group. The former COO took up the role effective yesterday. Paul Clitheroe also relinquished his responsibilities as Executive Chairman effective immediately, but will continue as the non-executive chairman of AWI. Shares in Australasian Wealth Investments closed flat yesterday at $0.20. 

Ex-dividends

Name Code Date Amount(cents) Franking
Argo Global Ltd ALI 25/02/16 0.5 0
Aurora Div Income AOD 25/02/16 0.4 174
Aus Gov Index Fund AQF 25/02/16 3.0 100
Asian Masters Fund AUF 25/02/16 1.1 100
Domino Pizza Enterpr DMP 25/02/16 34.7 70.02
Evolution Mining Ltd EVN 25/02/16 1.0 0
Ooh!Media Limited OML 25/02/16 6.7 100
Us Private Fund USF 25/02/16 10.0 0
Us Private Fund II USG 25/02/16 7.0

Commodities
 
Finally to Commodities Gold has gained $7.40 to $US1,230 an ounce for the April contract on Comex.
Silver has gained $0.05 to $15.33 for March.
Copper has gained $0.01 to $2.12 a pound.
Oil has gained $0.35 to $US32.22 a barrel for March light crude in New York.

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