Following mixed leads from US markets, the Australian share market looks set to open flat. Overnight the Dow continued to strengthen, after breaking through the much anticipated 20,000 mark on Wednesday. The Peso however took a hit in Thursday’s trade, dropping more than a percent against the U.S. dollar. The move came after news the Mexican president would cancel his upcoming meeting with Trump in light of the continuing dispute over the border wall.
US economic newsSales of new homes fell 10.4 percent in December to a seasonally adjusted annual rate of 536,000. The sharp fall off came as a surprise to economists, with most predicting no more than a 1 percent drop. Initial jobless claims rose last week by 22,000 coming in at 259,000. It marked the highest level for new claims in one month.
Local economic newsDue out today from the ABS are Q4 Producer Price indexes and export and import price data.
Markets Wall Street closed mixed on Thursday: The Dow Jones Industrial Average closed 0.2 per cent higher at 20,101 the S&P 500 lost 0.1 per cent to close at 2,297 and the NASDAQ closed steady at 5,655.
European markets closed mixed: London’s FTSE ended the day flat, Paris dropped 0.2 per cent and Frankfurt gained 0.4 per cent.
Asian markets closed higher: Tokyo’s Nikkei added 1.8 per cent, Hong Kong’s Hang Seng rose 1.4 per cent, and China’s Shanghai Composite gained 0.3 per cent.
The Australian share market closed higher on Wednesday: The S&P/ASX 200 Index closed 21 points up to finish at 5,672. On the futures market the SPI is 2 points down.
Currencies The Australian Dollar at 8:20AM was buying $US75.29 cents, 59.86 Pence Sterling, 86.34 Yen and 70.59 Euro cents.
Company NewsAltona Mining Limited
(ASX:AOH) has announced it is negotiating to extend the transaction closing date for its proposed JV with Sichuan Railway and Investment Group. The JV is looking to build a new copper-gold mine at Cloncurry in northwest Queensland. The extended closing date is to accommodate regulatory approvals required from both the Australian Foreign Investment Review Board and Chinese authorities. Shares in Altona Mining closed 3.85 percent higher on Wednesday at $0.135.
Investa Office Fund
(ASX:IOF) has announced key commercial terms have been finalised with law firm Allens Linklaters for the renewal of the company’s lease at its offices in Phillip St Sydney. Allens will occupy the space for further 7.5 years from their current lease expiry in June 2019, however will relinquish two currently occupied floors in June 2017. Shares in Investa Office Fund closed 0.66 percent lower on Wednesday at $4.49.
Ex-dividendsOnly 1 company is going ex-dividend today: Katana Capital Limited
(ASX:KAT) will pay 0.5 cents 50 percent franked.
Commodities Gold has lost $9.90 to $US1,191 an ounce for the February contract on Comex.
Silver has lost $0.20 to $16.79 for March.
Oil has gained $0.75 to $US53.76 a barrel for March light crude in New York.
