Considering Wall Street has just had its best trading day in 2016, our local share market is looking to follow that lead and will open in the black this morning. The S&P 500 closed at its highest level this year after Federal Reserve chairwoman Janet Yellen decided to keep interest rates on hold, and indicated that there would be fewer rate hikes in the coming months.
Global markets
Wall Street closed up yesterday: The Dow Jones Industrial Average gained 0.4 per cent to close at 17,326, the S&P 500 added 0.6 per cent to close at 2,027 and the NASDAQ added 0.8 per cent to close at 4,764.
European markets closed mixed: London’s FTSE added 0.6 per cent, Paris lost 0.2 per cent and Frankfurt added 0.5 per cent.
Asian markets also closed mixed: Tokyo’s Nikkei lost 0.8 per cent, Hong Kong’s Hang Seng slipped 0.2 per cent, and China’s Shanghai Composite added 0.2 per cent.
The Australian share market closed higher yesterday: The S&P/ASX 200 Index closed 8 points higher to finish at 5,119. On the futures market the SPI is up 36 points.
Currencies
The Australian Dollar at 8:20AM was buying $US0.7573 cents, 53.13 Pence Sterling, 85.39 Yen and 67.53 Euro cents.
Company news Myer Holdings Limited
(ASX:MYR) has announced its results for the half year to 23 January 2016, reporting a 1.8 per cent increase in total sales to $1.79 billion. Full year 2016 NPAT guidance has been revised to between $66 million and $72 million as a result of a positive customer response to new brands and enhanced customer service. Shares in Myer closed flat yesterday at $1.10.
Venturex Resources Limited
(ASX:VRX) says its has secured a significant extension to its Whim Creek Copper Processing Agreement with Blackrock Metals. The agreement has been extended to December 2018 and Venturex’s share of net profit will be increased from 15 per cent to 30 per cent from the start of this year. Profit share will further increase to 49 per cent from the start of 2017. Shares in Venturex Resources last traded at 0.4 cents.
Commodities
Gold has dropped $1.20 to $US1,230 an ounce for the April contract on Comex.
Silver has dropped $0.04 to $15.22 for May.
Copper has remained steady at $2.23 a pound for May.
Oil has added $1.92 to $US40.00 a barrel for April light crude in New York.
