Following positive leads the ASX looks set for a modest open this morning. Stocks in the U.S. lifted Thursday, with investors gaining confidence in the economic outlook the Fed’s interest rate hike. The Dow continued its climb towards 20,000 points while the US dollar continued to rally.
US economic news The CPI rose 0.2 percent in November compared to October, in line with expectations. Jobless claims also fell by 4000 last week, coming in at 254,000. Manufacturing indexes also rose in New York and Philadelphia, signalling a growing momentum and confidence in the sector.
MarketsWall Street closed up on Thursday: The Dow Jones Industrial Average jumped 0.3 per cent to close at 19,852, the S&P 500 gained 0.4 per cent to close at 2,262 and the NASDAQ rose 0.4 per cent to close at 5,457.
European markets closed higher: London’s FTSE climbed 0.7 per cent, Paris increased 1.1 per cent and Frankfurt rose 1.1 per cent.
Asian markets closed mixed: Tokyo’s Nikkei gained 0.1 per cent, Hong Kong’s Hang Seng fell 1.8 per cent, and China’s Shanghai Composite dropped 0.7 per cent.
The Australian share market closed lower on Thursday. The S&P/ASX 200 Index fell 46 points to finish at 5,539. On the futures market the SPI is 10 points up.
CurrenciesThe Australian Dollar at 8:30AM was buying $US73.56 cents, 59.24 Pence Sterling, 86.92 Yen and 70.66 Euro cents.
Local economic newsDue out today is the Westpac-Melbourne Institute Leading Index of Economic Activity.
Company newsSynlait Milk Limited
(ASX:SM1) has announced it has expanded its Senior Leadership Team to support their vision of becoming the world’s most innovative and trusted dairy company. The expanded structure will now accommodate 13 senior leaders underneath current CEO John Penno. Shares in Synlait Milk Limited closed steady on Thursday at $2.95.
Volt Resources Limited
(ASX:VRC) has announced it has completed a pre-feasibility study for its Namangale Project in south-east Tanzania. The company has indicated it believes it can achieve an internal rate of return of 87 percent, with the project’s pre-tax net present value coming in at US$1.3 billion. Shares in Volt Resources Limited last closed at $0.064 and will recommence trading today.
Ex-dividendsOnly 1 company is going ex-dividend today: Lantern Hotel Group
(ASX:LTN) will pay 2 cents unfranked.
Commodities Gold has dropped $14.80 at $US1,130 an ounce for the February contract on Comex.
Silver has fallen $1.18 to $16.04 for March.
Copper is steady at $2.60 a pound for March.
Oil has added $0.17 to $US52.14 a barrel for January light crude in New York.
