Following positive leads the Australian sharemarket looks set to open higher today. Shares on Wall Street rallied for a second consecutive day. Quarterly profit numbers from JPMorgan led shares in the financial space higher with results coming in above expectations.
Retail sales dipped in March. Data released by the Commerce Department fell 0.3 percent versus the 0.1 percent slip expected following cutbacks in car purchases.
Wall Street closed up yesterday: The Dow Jones Industrial Average gained 1.1 per cent to close at 17,908, the S&P 500 added 1 per cent to close at 2,082 and the NASDAQ gained 1.6 per cent to close at 4,947.
European markets closed up: London’s FTSE gained 1.9 per cent, Paris gained 3.3 per cent and Frankfurt gained 2.7 per cent.
Asian markets closed up: Tokyo’s Nikkei added 2.8 per cent, Hong Kong’s Hang Seng gained 3.2 per cent, and China’s Shanghai Composite gained 1.4 per cent.
The Australian share market closed higher yesterday: The S&P/ASX 200 Index closed 79 points up to finish at 5,055. On the futures market the SPI is 38 points up.
The Australian Dollar at 7:30AM was buying $US0.7655 cents, 53.90 Pence Sterling, 83.70 Yen and 67.90 Euro cents.
Investors will get a pulse check on the domestic labour market as the Australian Bureau of Statistics releases employment figures for March
Lovisa Holdings Limited (ASX:LOV)
has announced a reshuffle to its management team. Graeme Fallet is set to replace Iain Sandler as Chief Financial Officer and Company Secretary. Meanwhile Paul Cave has stepped down as Chairman, to be replaced by Michael Kay. The jewellery retailer maintains EBIT guidance of $23.5m to $25.5m for FY16. Shares in Lovisa Holdings closed 7.39 per cent up yesterday at $2.18.
Meridian Energy Limited (ASX:MEZ)
says national electricity demand was 0.8 percent lower in March of this year than a year earlier. The electricity generator attributed this to Easter falling in March and a higher South Island irrigation, dampening retail sales. Meridian noted an increase in national hydro storage to 106 percent of historical average in the month to 12 April 2016. Shares in Meridian Energy closed steady at $2.42. Ex-dividends
| Name || Code || Date || Amount(cents) || Franking |
| CBL Corporation Ltd || CBL || 14/04/16 || 5.7 || 0 |
| CBL Corporation Ltd || CBL || 14/04/16 || 1.6 || 0 |
| Cash Converters || CCV || 14/04/16 || 2.0 || 100 |
Gold has lost $16.80 to $US1,244 an ounce for the June contract on Comex.
Silver has gained $0.01 to $16.23 for May.
Copper has gained $0.02 to $2.17 a pound.
Oil has fallen $0.74 to $US42.76 a barrel for May light crude in New York.