Wall Street finished higher yesterday, with materials and industrial shares leading the charge. Gains were due to oil prices rallying to an 11-month high, and a weaker US dollar. Following this positive lead, the Australian market looks set to open higher.
US economic newsThe Bureau of Labor Statistics has released data which shows that there were 5.8 million job openings in April, which is slightly higher than expected.
MarketsWall Street closed higher: The Dow Jones Industrial Average gained 0.4 per cent to close at 18,005, the S&P 500 gained 0.3 per cent to close at 2,119 and the NASDAQ was up 0.3 per cent to close at 4,975.
European markets were mixed: London’s FTSE gained 0.3 per cent, Paris lost 0.6 per cent and Frankfurt was down 0.7 per cent.
Asian markets closed mixed as well: The Nikkei gained 0.9 per cent, the Hang Seng lost 0.1 per cent, and the Shanghai Composite lost 0.3 per cent.
The Australian share market closed flat yesterday: The S&P/ASX 200 Index closed 1 point down to finish at 5,370. On the futures market the SPI is up 9 points.
Currencies
The Australian Dollar at 7:30AM was buying $US0.7484 cents, 51.59 Pence Sterling, 80.06 Yen and 65.70 Euro cents.
Company newsNewfield Resources Ltd
(ASX:NWF) has sold its second parcel of alluvial rough diamonds in Antwerp, Belgium. It sold around $US 383,000 (at $US 270 per carat), which the company said was 121% above reserve price. The company says this was a “pleasing result given the lackluster market conditions”.
Shares in Newfield last traded at $0.38.
Pacific Energy Limited
(ASX:PEA) has announced the successful completion of the $40 million DeGrussa Solar Power Project in Western Australia. Pacific Energy’s role in the project included upgrading and modifying HV switchgear and integrating the control systems which govern the solar / battery / diesel integration.
Shares in Pacific Energy traded 4.76% higher at $0.44 yesterday.
Ex-dividends5 companies are going ex-dividend today -- Gentrack, Ozforex, Transmetro, Tower and US Residential Fund.
CommoditiesGold has gained $15.30 to $US1,262 an ounce for the August contract on Comex.
Silver has gained $0.59 to $16.98 for July.
Copper has gained $0.01 at $2.06 a pound.
Oil has gained $1.17 to $US51.53 a barrel for July light crude in New York.
