Following weak leads, the Australian share market looks set to open lower. The energy space dragged on US indices as shares tracked oil prices lower. Lacklustre earnings results from companies such as Perrigo and Xerox failed to ignite investor support ahead of this week’s Federal Reserve policy meeting.
US new home sales fell for the third consecutive month in March. Data released by the Commerce Department showed new home sales slipped 1.5 percent to 511,000.
Markets
Wall Street closed lower yesterday: The Dow Jones Industrial Average lost 0.15 per cent to close at 17,977, the S&P 500 lost 0.2 per cent to close at 2,088 and the NASDAQ lost 0.2 per cent to close at 4,896.
European markets closed lower: London’s FTSE lost 0.8 per cent, Paris lost 0.5 per cent and Frankfurt fell 0.8 per cent.
Asian markets closed lower: Tokyo’s Nikkei lost 0.8 per cent, Hong Kong’s Hang Seng fell 0.8 per cent, and China’s Shanghai Composite lost 0.4 per cent.
The Australian share market closed lower on Friday: The S&P/ASX 200 Index closed 36 points down to finish at 5,236 which was up 79 points over the week. On the futures market the SPI is 25 points down.
Turning to currencies and the Australian Dollar at 7:20AM was buying $US0.7715 cents, 53.28 Pence Sterling, 85.82 Yen and 68.48 Euro cents.
Company news
Cardno Limited
(ASX:CDD) advises that it has agreed with its US Private Placement noteholders to repay the company’s USPP notes facility in full. The infrastructure and environmental services company said the entire $US147.3 million USPP notes facility was redeemed on 22 April 2016 at par value. Shares in Cardno closed flat on Friday at $1.11.
Centuria Capital Limited
(ASX:CNI) subsidiary Centuria Property Funds has announced the settlement of its $104 million stake in the Australian Technology Park in inner city Sydney. Centuria funds now wholly own the Channel Seven building within the ATP precinct and the group has executed on its strategy to extend its investment in the precinct. Shares in Centuria Capital closed 0.5 per cent up on Friday at $1.00.
Ex-dividends
1 company is going ex-dividend today: Countplus Limited will pay a dividend of 2 cents fully franked.
Commodities
Gold has gained $10.20 to $US1,240 an ounce for the June contract on Comex.
Silver has gained $0.11 to $17.06 for May.
Copper has lost $0.01 to $2.26 a pound.
Oil has lost $1.09 to $US42.64 a barrel for June light crude in New York.
