Despite a flat finish to US trade on Friday, futures suggest the ASX will open slightly higher. While fresh jobs data out on Friday gave the US economy a glowing report card on the unemployment front, all attention was on Italy’s pending referendum on constitutional reform, which took place on Sunday.
Centre-left Prime Minister Mateo Renzi has vowed to resign should voters choose not to support him in his quest to limit the influence of the upper house. Many analysts believe a possible ‘No’ vote will be another nail in the coffin for the Eurozone and cause further volatility in global markets.
US economic news November saw positive news on the jobs front, with data out on Friday indicating 178,000 jobs were added during the month. The unemployment rate also dropped to 4.6 percent, the lowest jobless rate since August 2007.
MarketsWall Street closed mixed on Friday: The Dow Jones Industrial Average fell 0.1 per cent to close at 19,170, the S&P 500 closed 0.04 higher at 2,192 and the NASDAQ gained 0.1 per cent to close at 5,256.
European markets closed lower: London’s FTSE fell 0.3 per cent, Paris slipped 0.7 per cent and Frankfurt dropped 0.2 per cent.
Asian markets closed lower: Tokyo’s Nikkei lost 0.5 per cent, Hong Kong’s Hang Seng lost 1.4 per cent, and China’s Shanghai Composite declined 0.9 per cent.
The Australian share market closed lower Friday: The S&P/ASX 200 Index shed 56 points to finish at 5,444. The market was 64 points down on the week. On the futures market the SPI is 21 points up.
CurrenciesThe Australian Dollar at 7:35AM was buying $US74.59 cents, 58.72 Pence Sterling, 84.58 Yen and 70.06 Euro cents.
Economic newsDue out today from Markit Economics is November’s Performance of Services Index. ANZ will release November’s Job Ad figures and the TD-MI November inflation gauge will also be posted.
Company newsPioneer Credit Limited
(ASX:PNC) has announced it has signed a new $100 million senior debt facility with Westpac and Bankwest. The new agreement will replace the existing $60 million facility and will be used to support the growth of Pioneer’s core business of acquiring purchased debt portfolios. Shares in Pioneer Credit Limited closed flat on Friday at $1.89.
Northern Minerals Limited
(ASX:NTU) has announced it has received approval for its Browns Range mining proposal from the WA Department of Mines and Petroleum. When constructed, Browns Range will be the only heavy rare earths mine in Australia. Shares in Northern Minerals Limited closed steady on Friday at $0.12.
Ex-Dividends3 companies are going ex-dividend today: Aristocrat Leisure Limited
(ASX:ALL) will pay 15 cents unfranked, ALS Limited
(ASX:ALQ) will pay 5.5 cents 60 percent franked and Evolve Education Group
(ASX:EVO) will pay 2.39 cents unfranked.
CommoditiesGold is up $9.80 at $US1,179 an ounce for the February contract on Comex.
Silver has gained $0.29 to $16.80 for March.
Copper is steady at $2.63 a pound for March.
Oil has added $0.62 to $US51.68 a barrel for January light crude in New York.
