Following negative leads, the Australian share market looks set to open flat. US markets had a choppy session on Thursday, ending the day down across the board. A fall in oil pushed the markets lower while disappointing earnings from Verizon and speculation AT&T was considering a merger with Time Warner drove the telco sector down 2 percent. American Express shares were the bright spot in Thursday’s trading, surging 10 percent after positive Q3 earnings.
US economic newsHome sales rose 3.2 percent in September to 5.47 million, driven mainly by a rise in sales of single family homes. Weekly jobless claims hit their highest number in 5 weeks, coming in at 260,000. And the Federal Reserve Bank of Philadelphia’s Manufacturing Index for October came in at 9.7, a drop on September’s 12.7.
MarketsWall Street closed lower yesterday: The Dow Jones Industrial Average lost 0.2 per cent to close at 18,162, the S&P 500 fell 0.1 per cent to close at 2,141 and the NASDAQ dropped 0.1 per cent to close at 5,242.
European markets closed up: London’s FTSE added 0.1 per cent, Paris gained 0.4 per cent and Frankfurt rose 0.5 per cent.
Asian markets closed mixed: Tokyo’s Nikkei added 1.4 per cent, Hong Kong’s Hang Seng gained 0.3 per cent, and China’s Shanghai Composite closed flat
The Australian share market closed higher yesterday: The S&P/ASX 200 Index closed 7 points up to finish at 5,442. On the futures market the SPI is 1 point down.
Currencies The Australian Dollar at 7:20AM was buying $US76.29 cents, 62.27 Pence Sterling, 79.29 Yen and 69.85 Euro cents.
Company newsNational Veterinary Care Limited
(ASX:NVL) has announced it has renegotiated an existing debt facility, increasing the limit to $42 million. The company now has $14 million in undrawn debt available for future acquisitions and expansions. The new arrangement was done in conjunction with the businesses existing financiers. Shares in National Veterinary Care Limited closed 0.98 per cent lower yesterday at $2.03.
Crown Resorts Limited
(ASX:CWN) has updated the market on its revenue breakdown following its AGM in Perth this week, and as it seeks to reassure markets following the crackdown by the Chinese government in relation to its activities in mainland China. The company has indicated less than half of the revenue from its international VIP gaming programs is currently generated by visitors from mainland China, representing approximately 12 percent of Crown Group revenues for FY16. Shares in Crown Resorts Limited closed 2.27 per cent lower yesterday at $10.75.
Ex-dividends3 companies are going ex-dividend today: Oneall International Limited
(ASX:1AL) will pay 3.5 cents unfranked, Class Limited
(ASX:CL1) will pay 1 cent unfranked and Sandon Capital Investments Limited
(ASX:SNC) will pay 3 cents fully franked.
Commodities Gold has fallen $3.20 to $US1,267 an ounce for the December contract on Comex.
Silver has slipped $0.13 to $17.53 for December.
Copper has lost $0.01 to $2.09 a pound for December.
Oil has dropped $1.23 to $US50.59 a barrel for December light crude in New York.
