Outlook: Aus shares set to open in positive territory

Market Reports

Following broadly positive leads, the Australian sharemarket looks set to open slightly higher. It was a day of muted trading on Wall Street, with the banking space in the limelight once more as Bank of America and Wells Fargo recorded lower quarterly profits. Oil prices held steady in overnight trade as market-watchers prepare for Opec talks in Doha this weekend. Investors will be eyeing China GDP numbers due for release at midday.

US consumer prices rose 0.1 percent in March. Data released by the Labor Department came in less than the 0.2 percent lift expected.

Markets

Wall Street closed mixed yesterday: The Dow Jones Industrial Average gained 0.1 per cent to close at 17,926, the S&P 500 closed steady at 2,083 and the NASDAQ closed steady at 4,946.
 
European markets closed up: London’s FTSE is mostly unchanged, Paris gained 0.5 per cent and Frankfurt gained 0.7 per cent.
 
Asian markets closed up: Tokyo’s Nikkei added 3.2 per cent, Hong Kong’s Hang Seng gained 0.9 per cent, and China’s Shanghai Composite gained 0.5 per cent.
 
The Australian share market closed higher yesterday: The S&P/ASX 200 Index closed 64 points up to finish at 5,119. On the futures market the SPI is 14 points up. 

Currencies
 
Tthe Australian Dollar at 7:30AM was buying $US0.7695 cents, 54.39 Pence Sterling, 84.18 Yen and 68.35 Euro cents.

Economic news

The Reserve Bank of Australia is set to release its half year Financial Stability Review. 

Company news
 
Recall Holdings Limited (ASX:REC) is set to be removed from the S&P/ASX200 Index. The move by S&P Dow Jones Indices is subject to shareholder and final court approval of the scheme of arrangement whereby the company will be acquired by Iron Mountain. Recall Holdings will be replaced by CHESS Depositary Interests in Iron Mountain after close of trade on 21 April. Shares in Recall Holdings closed 0.12 per cent up yesterday at $8.04.  
 
Silver Lake Resources Limited (ASX:SLR) has entered into a farm-in and joint venture agreement with ACH Minerals Pty Ltd in respect of the company’s Great Southern project. ACH will commence earning a 51 percent JV interest in the project by spending a minimum of $3 million on exploration within three years, with an option to extend its interest to 80 percent. Shares in Silver Lake Resources closed 1.47 per cent up yesterday at $0.345.  

Commodities
 
Gold has lost $21.80 to $US1,226 an ounce for the June contract on Comex.
Silver has lost $0.15 to $16.17 for May.
Copper is steady at $2.17 a pound.
Oil has lost $0.36 to $US42.65 a barrel for May light crude in New York.