The ASX has a positive lead from US stocks which shook off early woes following the breakdown of oil negotiations in Qatar which sent oil prices plunging.
Broad-based gains across all the sectors sent the Dow to its highest levels in a year closing over the 18,000 mark as investors eye the latest company earning which have been mostly positive so far.
Markets
Wall Street closed higher yesterday: The Dow Jones Industrial Average gained 0.6 per cent to close at 18,004, the S&P 500 added 0.7 per cent to close at 2,094 and the NASDAQ was up 0.4 per cent to close at 4,960.
European markets closed up: London’s FTSE added 0.2 per cent, Paris advanced 0.3 per cent and Frankfurt rose 0.7 per cent.
Asian markets closed lower: Tokyo’s Nikkei shed 3.4 per cent, Hong Kong’s Hang Seng slipped 0.7 per cent, and China’s Shanghai Composite lost 1.4 per cent.
The Australian share market closed lower yesterday: The S&P/ASX 200 Index closed 20 points down to finish at 5,137. On the futures market the SPI is pointing 53 points higher.
Currencies
The Australian Dollar at 7:20AM was buying 77.51 US cents, 54.32 Pence Sterling, 84.34 Yen and 68.51 Euro cents.
In economic news: Due out today from the Reserve Bank are minutes from the April cash rate meeting.
Company news
Beach Energy Limited
(ASX:BPT) says it has revised its deal to sell Beach Egypt to UK-based Rockhopper. The deal has been amended from cash and scrip to an all cash deal of US$20.5 million over two payments. Shares in Beach Energy last traded 7.25 per cent lower at $0.64.
Investa Office Fund
(ASX:IOF) says Richard Longes has been appointed as Independent Chairman of Investa Listed Funds Management. Shares in Investa last traded 0.49 per cent higher at $4.13.
Ex-dividends One company is going ex-dividend today: NAOS Absolute Opportunities Co Limited
(ASX:NAC) will pay 2.25 cents fully-franked.
Commodities
Gold has risen 40 cents to $US1,235 an ounce for the June contract on Comex. Silver has slipped 6 cents to $16.25 for May. Copper has advanced 1 cent to $2.17 a pound. Oil has slipped 52 cents to US$41.19 a barrel for May light crude in New York.
