Following mixed leads, the Australian share market looks set to open lower. Disappointing earnings from media and entertainment giant Disney led US indexes to retrace gains from the previous day’s trade; stocks in the retail space also ending lower.
Markets
Wall Street closed lower yesterday: The Dow Jones Industrial Average lost 1.2 per cent to close at 17,711, the S&P 500 lost nearly 1 per cent to close at 2,064 and the NASDAQ lost 1 per cent to close at 4,761.
European markets closed mixed: London’s FTSE gained 0.1 per cent, Paris lost 0.5 per cent and Frankfurt lost 0.7 per cent.
Asian markets closed mixed: Tokyo’s Nikkei added 0.1 per cent, Hong Kong’s Hang Seng lost 0.9 per cent, and China’s Shanghai Composite gained 0.2 per cent.
The Australian share market closed higher yesterday: The S&P/ASX 200 Index closed 30 points up to finish at 5,372. On the futures market the SPI is 33 points down.
Currencies
The Australian Dollar at 7:20AM was buying $US0.7378cents, 51.12 Pence Sterling, 80.02 Yen and 64.58 Euro cents.
Economic news
Assistant Governor Malcolm Edey is due to speak at the Cards & Payments Australia conference, Melbourne.
Company news
QBE Insurance Group Limited
(ASX:QBE) has advised the rating outlook on QBE’s core operating entities and other subsidiaries has been revised to “Positive” from “Stable” by S&P Global Ratings. S&P affirmed the ‘A+’ financial strength ratings on QBE’s core operating companies and ‘A-‘ issuer credit rating on QBE. Shares in QBE Insurance Group closed 2.54 per cent up yesterday at $11.72.
MaxiTRANS Industries Limited
(ASX:MXI) has advised underlying net profit after tax for the full year ending 30 June 2016 is likely to be in a range of $7 million to $8 million. MaxiTRANS said it has appropriate strategies in place to manage current market conditions, shaped by softer economic conditions and regulatory changes in New Zealand. Shares in MaxiTRANS closed 1.02 per cent up yesterday at $0.495.
Ex-dividends | Name | Code | Date | Amount(cents) | Franking |
| Tamawood Limited | TWD | 12/05/16 | 10.00 | 100 |
| Westpac Banking Corp | WBC | 12/05/16 | 94.00 | 100 |
| XPD Soccer Gear Grp | XPD | 12/05/16 | 1.00 | 0 |
Commodities
Gold has gained $13.90 to $US1,279 an ounce for the June contract on Comex.
Silver has gained $0.36 to $17.45 for July.
Copper has gained $0.01 to $2.10 a pound.
Oil has gained $1.47 to $US46.75 a barrel forJune light crude in New York.
