Outlook: Aus shares set to open higher

Market Reports

Following positive leads, the Australian share market looks set to open higher on this Wednesday. Shares on Wall Street rallied overnight. Oil prices hit a four-month high on reports of a production freeze by Russia and Saudi Arabia, giving shares in the energy space a boost. 

Markets
 
Wall Street closed up yesterday: The Dow Jones Industrial Average gained 0.9 per cent to close at 17,721, the S&P 500 added almost 1 per cent to close at 2,062 and the NASDAQ gained 0.8 per cent to close at 4,872.
 
European markets closed up: London’s FTSE gained 0.7 per cent, Paris gained 0.8 per cent and Frankfurt gained 0.8per cent.
 
Asian markets closed mixed: Tokyo’s Nikkei added 1.1 per cent, Hong Kong’s Hang Seng gained 0.3 per cent, and China’s Shanghai Composite fell 0.3 per cent.
 
The Australian share market closed higher yesterday: The S&P/ASX 200 Index closed 44 points up to finish at 4,976. On the futures market the SPI is 42 points up. 

Currencies
 
The Australian Dollar at 7:30AM was buying $US0.7679cents, 53.85 Pence Sterling, 83.37 Yen and 67.47 Euro cents.

Economic news

Due for release from Westpac-Melbourne Institute is the Consumer Sentiment read for April
 
Company news
 
Anteo Diagnostics Limited (ASX:ADO) has filed two new patents relating to the energy sector. Together with a patent filed last year, the three patent filings expand Anteo’s existing Intellectual Property base in the energy sector to batteries, super capacitors and other non life science applications. Shares in Anteo Diagnostics closed steady at $0.05.
 
TikForce Limited (ASX:TKF) has appointed Kevin Baum as Chief Executive Officer. While an exact remuneration package is yet to be determined, the human resource technology platform said the package will at no time exceed $300,000 per annum. Shares in TikForce closed 13 per cent lower yesterday at $0.087.  

Ex-dividends
 
Name Code Date Amount(cents) Franking
F.F.I. Holdings FFI 12/04/16 8.0 100
Colorpak Limited CKL 13/04/16 11.0 100
Future Gen Ltd FGX 13/04/16 2.0 100
WAM Active Limited WAA 13/04/16 2.5 100
WAM Research Ltd WAX 13/04/16 4.3 100
Watermark Fund Ltd WMK 13/04/16 3.5 50

Commodities
 
Gold has gained $2.90 to $US1,261 an ounce for the June contract on Comex.
Silver has gained $0.25 to $16.22 for May.
Copper has gained $0.06 to $2.15 a pound.
Oil has gained $1.75 to $US43.50 a barrel for May light crude in New York.

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