The Australian share market will take a positive lead from Wall Street, and open higher this morning.
Overnight, US stocks finished in positive territory, even though 7 out of 10 sectors finished in the red.
The Federal Reserve released the minutes for its late-July policy meeting. The minutes showed that its members were divided on whether or not to raise interest rates soon. The Fed policymakers agreed that they need to see more data showing economic growth and inflation picking up – before they can increase interest rates.
US economic newsCrude oil inventories fell by 2.5 million barrels last week. This came as a surprise because analysts were expecting stockpiles to rise by over 520,000 barrels. Oil prices have increased overnight.
MarketsWall Street finished stronger on Wednesday: The Dow Jones gained 0.1% to close at 18,574, the S&P 500 rose by 0.2% to close at 2,182 and the NASDAQ was flat at 5,229.
European markets closed lower though: London’s FTSE was down 0.5%, Paris lost almost 1% and Frankfurt slipped 1.3%.
Asian markets were mixed: Tokyo’s Nikkei gained 0.9%, Hong Kong’s Hang Seng was down 0.5%, and the Shanghai Composite closed practically flat.
As for the Australian share market, it finished flat yesterday: The ASX 200 closed 3 points up to finish at 5,535. And this morning, on the futures market, the SPI is up 3 points.
CurrenciesThe Australian Dollar at 7:20AM was buying $US76.54 cents, 58.71 Pence, 76.74 Yen and 67.83 Euro cents.
Local economic newsThe Australian Bureau of Statistics will release its July unemployment figures today.
Previously, in June, unemployment fell by 200 to 725,900, and the unemployment rate was steady at 5.7%.
Earnings seasonA number of companies, such as AMP, Origin Energy and Sydney Airport will report their financial results today.
Company newsSonic Healthcare Limited (ASX: SHL) has released its results for FY2016. The company’s revenues rose 20% to around $5 billion, and its net profit after tax jumped 30% to $451 million. Sonic Healthcare declared a final dividend of 44 cents per share (which is 7.3% higher than last year), and it will be 30% franked.
Shares in Sonic Healthcare last traded 6.19% higher at $23.51.
Security services and car park management company, the Wilson Group Ltd
(ASX:WIG), has declared a fully franked special dividend of 5 cents per share. The company declared this dividend after its shareholders decided to acquire the remaining 24.99% in Pinnacle Investment Management Ltd. The company has also appointed a new managing director, Ian Macoun.
Shares in Wilson Group closed steady at $1.70.
Ex-dividendsOne company is going ex-dividend today. GUD Holdings will pay a dividend of 23 cents per share, fully franked.
CommoditiesGold has lost $3 to $US1,354 an ounce for the December contract on Comex.
Silver is down $0.18 to $19.69 for September.
Copper is down $0.01 to $2.17 a pound for September.
Oil has gained $0.41 to $US47.63 a barrel for September light crude.
