The local share market is expected to open lower today, following mixed leads from Wall Street. US stocks came under pressure as weakness in the commodities space offset solid performance in both the consumer staples and utilities stocks. Investors showed caution ahead of the US Federal Reserve’s rate decision.
US retail sales fell 0.1 percent in February in signs of renewed consumer caution, according to data released by the Census Bureau.
Markets
Wall Street closed mixed yesterday: The Dow Jones Industrial Average gained 0.1 per cent to close at 17,252, the S&P 500 lost 0.2 per cent to close at 2,016 and the NASDAQ lost 0.45 per cent to close at 4,729.
European markets closed lower: London’s FTSE fell 0.6 per cent, Paris lost 0.75 per cent and Frankfurt fell 0.6 per cent.
Asian markets closed mixed: Tokyo’s Nikkei fell 0.7 per cent, Hong Kong’s Hang Seng lost 0.7 per cent, and China’s Shanghai Composite gained 0.2 per cent.
The Australian share market closed lower yesterday: The S&P/ASX 200 Index closed 74 points down to finish at 5,111. On the futures market the SPI is 5 points down.
Currencies
The Australian Dollar at 8:30AM was buying $US0.7459 cents, 52.72 Pence Sterling, 84.40 Yen and 67.17 Euro cents.
Economic news
Due out today from the Westpac-Melbourne Institute will release its Leading Indexes of Economic Activity.
Company news
Telstra Corporation Limited
(ASX:TLS) has undergone a reshuffle to its leadership team. Former Sing Tel Optus staffer Kevin Russell is set to join the telco giant as Group Executive of Telstra Retail. Stephen Elop will also join Telstra in the newly created role of Group Executive Technology, Innovation and Strategy. Shares in Telstra closed 0.19 per cent up yesterday at $5.29.
Chorus Limited
(ASX:CNU) is providing Australian and New Zealand shareholders with less than 100 shares the opportunity to sell their shares through a share sale facility. The telecommunications infrastructure provider advised clients there is no cost of brokerage for participating in the sale facility. Unless notified otherwise, Chorus will sell minimum holder’s shares on their behalf at the end of June. Shares in Chorus closed flat yesterday at $3.50.
Ex-dividends | Name | Code | Date | Amount(cents) | Franking |
| Adacel Technologies | ADA | 16/03/16 | 1.3 | 0 |
| Breville Group Ltd | BRG | 16/03/16 | 14.5 | 75 |
| Desane Group Hldings | DGH | 16/03/16 | 2.3 | 100 |
| Data#3 Limited | DTL | 16/03/16 | 2.5 | 100 |
| Equity Hl | EQT | 16/03/16 | 34.0 | 100 |
| IOOF Holdings Ltd | IFL | 16/03/16 | 28.5 | 100 |
| Laserbond Limited | LBL | 16/03/16 | 0.2 | 100 |
| Nuplex Industries | NPX | 16/03/16 | 9.4 | 0 |
| Reckon Limited | RKN | 16/03/16 | 3.0 | 0 |
| Shriro Holdings Ltd | SHM | 16/03/16 | 6.0 | 100 |
| Supply Network | SNL | 16/03/16 | 4.0 | 100 |
| Service Stream | SSM | 16/03/16 | 1.0 | 100 |
| Wilson Grp Ltd | WIG | 16/03/16 | 1.4 | 100 |
| Zicom Group Limited | ZGL | 16/03/16 | 0.3 | 0 |
Commodities
Gold has lost $14.10 to $US1,231 an ounce for the April contract on Comex.
Silver has lost $0.26 to $15.26 for May.
Copper has lost $0.01 to $2.23 a pound for May.
Oil has lost $0.76 to $US38.08 a barrel for April light crude in New York.
