Outlook: Aus shares set to open slightly in the red

Market Reports

Following mixed overseas leads the Australian sharemarket looks set to open slightly in the red on this last day of the trading week. Global stocks fell after the Bank of Japan’s move to hold fast on interest rates, the Dow Jones experiencing its worst day in more than two months. 
 
Weak sentiment was not helped by US economic news. Advance Q1 GDP came in softer than expected. Data released by the Labor Department showed growth of 0.5 percent versus the 0.7 percent expansion forecast.

Markets
 
Wall Street closed lower yesterday: The Dow Jones Industrial Average lost 1.2 per cent to close at 17,831, the S&P 500 lost 0.9 per cent to close at 2,076 and the NASDAQ lost 1.2 per cent to close at 4,805.
 
European markets closed mixed: London’s FTSE gained 0.04 per cent, Paris lost 0.04 per cent and Frankfurt gained 0.21 per cent.
 
Asian markets closed mixed: Tokyo’s Nikkei fell 3.6 per cent, Hong Kong’s Hang Seng gained 0.1 per cent, and China’s Shanghai Composite lost 0.3 per cent.
 
The Australian share market closed higher yesterday: The S&P/ASX 200 Index closed 38 points up to finish at 5,225. On the futures market the SPI is 8 points down. 

Currencies

The Australian Dollar at 7:20AM was buying $US0.7628 cents, 52.26 Pence Sterling, 82.45 Yen and 67.21 Euro cents.

Economic news
 
Reserve Bank-watchers will be looking for last minute hints ahead of next Tuesday's central bank meeting when RBA Assistant Governor Guy Debelle speaks later on today.

Company news
 
Broadspectrum Limited (ASX:BRS) Board of Directors has changed its recommendation, now proposing that shareholders accept Spanish Ferrovial's revised offer of $1.50 per share. The change of heart comes as a result of increased uncertainty related to the company's operations in Manus Province which has been deemed illegal and unconstitutional by the Supreme Court of Papua New Guinea. Shares in Broadspectrum last traded at $1.12. 
 
NRW Holdings Limited (ASX:NWH) is set to open up Perth's eastern suburbs to rail for the first time thanks to a joint contract with Italian firm Salini Impregilo to deliver the Forrestfield-Airport Link. The contract award value to the joint venture is $1.176 billion and consists of a train line connecting Forrestfield to the city. Shares in NRW Holdings last traded at $0.205.  

Ex-dividends

Name Code Date Amount(cents) Franking
Magellan Flagship MFF 29/04/16 1.0 100
 
Commodities
 
Gold has gained $16.00 to $US1,266 an ounce for the June contract on Comex.
Silver has gained $0.25 to $17.59 for May.
Copper has gained $0.01 to $2.23 a pound.
Oil has gained $0.70 to $US46.03 a barrel for June light crude in New York.