Following positive leads, the Australian share market looks set to open higher. The S&P 500 enjoyed its best day in two months as US stocks ended Tuesday on an upward momentum; helped by gains in e-commerce stock Amazon and a boost in oil prices.
Markets
Wall Street closed up yesterday: The S&P 500 gained 1.3 per cent to close at 17,928. The Dow Jones Industrial Average gained 1.3 per cent to close at 17,928 2,084 and the NASDAQ gained 1.3 per cent to close at 4,810.
European markets closed up: London’s FTSE gained 0.7 per cent, Paris gained 0.4 per cent and Frankfurt rose 0.7 per cent.
Asian markets closed up: Tokyo’s Nikkei added 2.2 per cent, Hong Kong’s Hang Seng gained 0.4 per cent, and China’s Shanghai Composite remained flat.
The Australian share market closed higher yesterday: The S&P/ASX 200 Index closed 22 points up to finish at 5,343. On the futures market the SPI is 30 points up.
Currencies
Turning to currencies and the Australian Dollar at 7:20AM was buying $US0.7372 cents, 51.05 Pence Sterling, 80.56 Yen and 64.83 Euro cents.
Economic news
Due out today is the Westpac Consumer Sentiment read. Also due for release from the ABS is Home Loans data for March.
Company news
Blackmores Limited
(ASX:BKL) has completed the acquisition of Global Therapeutics. Vitamins company Blackmores purchased the Chinese herbal medicine company for $23 million. Shares in Blackmores closed 1.53 per cent up yesterday at $183.
Templeton Global Growth Fund Limited
(ASX:TGG) has entered into a 3 year investment management agreement with Franklin Templeton. The fund says the renewal of the agreement reconfirms its continued support of Franklin Templeton and its investment approach. Shares in Templeton Global Growth Fund closed steady at $1.15.
Ex-dividends
Tasmania Mines will pay 3 cents fully franked.
Commodities
Gold has lost $1.80 to $US1,265 an ounce for the June contract on Comex.
Silver is steady at $17.09 for July. Copper has lost $0.01 to $2.09 a pound.
Oil has gained $1.42 to $US44.66 a barrel for June light crude in New York.
