Following positive leads, the Australian share market looks set to open higher. Thursday’s US trading session saw indexes drive their way to near record highs, with momentum created by a slew of positive economic data. Markets were also helped along by Janet Yellen’s testimony in front of Congress on Thursday, were her comments strengthened the likelihood of a rate hike happening sooner rather than later.
US economic newsConsumer prices lifted in October, with the core CPI up 0.1% on the prior month. Housing starts also jumped, up 25.5 percent, exceeding market expectations. Weekly jobless claims also hit a fresh low, falling to 253,000, the lowest level since 1973.
MarketsWall Street closed up yesterday: The Dow Jones Industrial Average gained 0.2 per cent to close at 18,904, the S&P 500 rose 0.5 per cent to close at 2,187 and the NASDAQ added 0.7 per cent to close at 5,334.
European markets closed higher: London’s FTSE rose 0.7 per cent, Paris lifted 0.6 per cent and Frankfurt gained 0.2 per cent.
Asian markets closed mixed: Tokyo’s Nikkei closed flat, Hong Kong’s Hang Seng fell 0.1 per cent, and China’s Shanghai Composite added 0.1 per cent.
The Australian share market closed higher yesterday: The S&P/ASX 200 Index closed 11 points up to finish at 5,339. On the futures market the SPI is 19 points up.
CurrenciesThe Australian Dollar at 8:10AM was buying $US74.19 cents, 59.73 Pence Sterling, 81.59 Yen and 69.83 Euro cents.
Company newsOrion Health Group Limited
(ASX:OHE) has announced an extension to its longstanding agreement with Phillips. The agreement continues the deployment of the Orion Health Rhapsody Integration Engine across various Phillips solutions. Shares in Orion Health Group Limited closed steady yesterday at $2.79.
Fonterra Shareholders’ Fund
(ASX:FSF) has announced it has increased its Farmgate Milk Price forecast by 75 cents to $6.00 per kg of milk solids. Chairman John Wilson indicated the increase reflects improvements in pricing since September following the gradual rebalancing of global supply and demand. Shares in Fonterra Shareholders’ Fund closed 0.36 percent up yesterday at $5.63.
Ex dividendsSeveral companies are going ex-dividend today: Washington H. Soul Pattinson and Co. Limited
(ASX:SOL) will pay 31 cents fully franked and Australian Masters Yield Fund No 5 Limited
(ASX:AYZ) will pay 54 cents fully franked.
CommoditiesGold has fallen $8.00 to $US1,218 an ounce for the December contract on Comex.
Silver has dropped $0.23 to $16.70 for December.
Copper has added $0.02 to $2.49 a pound for December.
Oil has fallen $0.42 to $US45.51 a barrel for December light crude in New York.
