Outlook: Aus shares set to open higher

Market Reports


Further gains in the dollar overnight and higher commodity prices are setting an upbeat tone for local stocks ahead of the weekend. 
 
The ASX also has a favourable lead from US stocks which entered positive territory for the first time this year after soaring commodity prices and a jump in crude oil futures spurred a strong rally. 

Markets

Wall Street closed up: The Dow Jones Industrial Average gained 0.9 per cent to close at 17,481, the S&P 500 advanced 0.7 per cent to close at 2,041 and the NASDAQ lost 0.2 per cent to close at 4,775.
 
European markets closed mixed: London’s FTSE added 0.4 per cent, Paris lost 0.5 per cent and Frankfurt slipped 0.9 per cent.
 
Asian markets closed mixed: Tokyo’s Nikkei slipped 0.2 per cent, Both the Hang Seng and China’s Shanghai Composite rose 1.2 per cent.
 
The Australian share market closed higher yesterday: The S&P/ASX 200 Index closed 49 points up to finish at 5,168. On the futures market the SPI is 36 points higher. 
 
Currencies

The Australian Dollar at 7:35AM was buying 76.45 US cents, 52.82 Pence Sterling, 85.20 Yen and 67.58 Euro cents.
 
Company news
 
Ausdrill Limited (ASX:ASL) says it has sold its DT HiLoad truck tray manufacturing business to Schlam Engineering. The sale is expected to realise up to $8 million for the mining services company over a three year period. Ausdrill has slowly been exiting from non-core and underperforming assets. Shares in Ausdrill last traded 1.11 per cent higher at $0.455. 
 
Cue Energy Resources Limited (ASX:CUE) says CEO David Biggs will resign effective 15 April. A replacement will be announced in due course. 
Shares in Cue last traded 5 per cent higher at $0.06. 

Commodities

Gold has added $28.30 to US$1,258 an ounce for the April contract on Comex. Silver is up 72 cents to $15.94 for May. Copper has advanced 6 cents to $2.29 a pound. Oil has jumped $1.69 to $US41.69 a barrel for April light crude in New York.

Name Code Date Amount(cents) Franking
Beyond International BYI 18/03/16 5.0 0
Gale Pacific Limited GAP 18/03/16 0.8 0
K & S Corporation KSC 18/03/16 1.5 100
McPherson's Ltd MCP 18/03/16 6.0 100
Primary Health Care PRY 18/03/16 5.6 50
Qv Equities Limited QVE 18/03/16 1.5 100
Qv Equities Limited - Deferred Ex Option QVEN 18/03/16 1.5 100
Sth Crs Elect Engnr SXE 18/03/16 1.4 100
Think Childcare Ltd TNK 18/03/16 7.2 33.33
The Reject Shop TRS 18/03/16 25.0 100
Vocus Comms Ltd VOC 18/03/16 7.6 100
Vocus Comms Ltd VOC 18/03/16 1.9 100
COSTA GROUP HOLDINGS CGC 21/03/16 3.0 100
Chorus Limited CNU 21/03/16 7.4 0
Neometals Ltd NMT 21/03/16 2.0 0
Patties Foods Ltd PFL 21/03/16 2.7 100
PMP Limited PMP 21/03/16 1.2 0
Cml Group Ltd CGR 22/03/16 0.5 100

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