Following weak leads, the Australian share market looks set to open unchanged this morning. US markets ended the week mostly flat on Friday, however all major indexes posted moderate gains on the week. Over the weekend AT&T confirmed market speculation it would buy-out media giant Time Warner, in a deal worth $85.4 billion. Reuters reports the deal has received skepticism from both sides of US politics, with Trump stating he would move to block the merger, should he win the November 8 election.
US economic newsWorking gas held in storage in the US increased by 77 billion cubic feet for the week ending October 14, slightly over market expectations of 73 billion cubic feet.
MarketsWall Street closed mixed on Friday: The Dow Jones Industrial Average lost 0.1 per cent to close at 18,146, the S&P 500 fell 0.01 per cent to close at 2,141 and the NASDAQ added 0.3 per cent to close at 5,257.
European markets closed mixed: London’s FTSE and Paris both slipped 0.1 per cent and Frankfurt rose 0.1 per cent.
Asian markets closed mixed: Tokyo’s Nikkei dropped 0.3 per cent, Hong Kong’s Hang Seng gained 0.3 per cent, and China’s Shanghai Composite rose 0.2 per cent.
The Australian share market closed lower on Friday: The S&P/ASX 200 Index closed 12 points down to finish at 5,430. The market was 4 points down on the week. And on the futures market the SPI is 1 point down.
CurrenciesThe Australian Dollar at 7:20AM was buying $US76.09 cents, 62.26 Pence Sterling, 79.10 Yen and 69.96 Euro cents.
Company newsDyesol Limited
(ASX:DYE) has announced it has signed a Letter of Intent with the CSIRO to collaborate in the development and commercialisation of Perovskite Solar Cells. The LOI allows the two organizations to put binding agreements in place for specific individual projects. Both Dyesol and CSIRO have stated this may result in deploying complementary skills in the pursuit of commercialization opportunities and in order to access government funding. Shares in Dyesol Limited closed 4.44 per cent lower on Friday at $0.215.
Panoramic Resources Limited
(ASX:PAN) has advised it has entered into the various agreements necessary to progress the proposed partial divestment of its Gum Creek Gold Project via an IPO on the ASX. The company has entered into an acquisition agreement with two of its subsidiaries, and is conditional on a $15 million raising. Shares in Panoramic Resources Limited closed steady on Friday at $0.225.
Ex-dividends 2 companies are going ex-dividend today: Katana Capital Limited
(ASX:KAT) will pay 0.5 cents fully franked and MainstreamBPO Limited
(ASX:MAI) will pay 1 cent fully franked.
Commodities Gold has fallen $0.80 to $US1,267 an ounce for the December contract on Comex.
Silver has dropped $0.02 to $17.53 for December.
Copper has dropped $0.01 to $2.09 a pound for December.
Oil has risen $0.37 to $US51.00 a barrel for December light crude in New York.
