Following record yet marginal gains on Wall Street the Australian share market looks set for a tentative start.
The three major US indices closes at record highs for the second day in a row, even though it was a narrow win. It comes as gains in the energy space of more than 1 per cent, offset the worst performers, tech stocks, which lost about 0.2 per cent.
Also putting weight on US stocks was weaker than expected economic data.
On the commodities front, the oil price steamed about 2.2 per cent higher while the iron ore price shed 1.9 per cent. The safe haven, gold, also slipped too, in the wake of the US dollar rising.
US economic newsThe US Producer Price Index (PPI), which is a measurement of inflation, rebounded to a rise of 0.2 per cent in August, recovering from its 0.1 per cent fall in July. Despite the rise to positivity it was just shy of the 0.3 per cent gain expected.
Year on the year, the Producer Price Index (PPI) rose 2.4 per cent, narrowly missing the 2.5 per cent expected as well.
Local economic news The ABS is expected to reveal the unemployment rate has remained steady at 5.6 per cent today. The market is also expecting to learn that 15,000 jobs were added in August, according to consensus. 27,900 jobs were added in July.
Markets Wall Street closed higher yesterday: The Dow Jones Industrial Average gained 0.18 per cent to close at 22,158 the S&P 500 added 0.08 per cent to close at 2,498 and the NASDAQ added 0.09 per cent to close at 6,460.
European markets closed mixed: London’s FTSE lost 0.3 per cent, Paris gained 0.2 per cent and Frankfurt added 0.2 per cent.
Asian markets closed mixed: Tokyo’s Nikkei added 0.45 per cent, Hong Kong’s Hang Seng lost 0.3 per cent, and China’s Shanghai Composite added 0.1 per cent.
And back home, the Australian share market closed lower yesterday: The S&P/ASX 200 Index closed 2 points down or 0.04 per cent lower to finish at 5,744.
On the futures market the SPI is 1 points up.
Company newsTwo ratings agencies have reaffirmed Genworth Mortgage Insurance Australia’s
(ASX:GMA) financial strength ratings, while one ratings house downgraded its rating. Moody’s revised the LMI providers insurer financial strength rating (IFSR) of Genworth Financial Mortgage Insurance Pty Ltd from ‘A3’ to ‘Baa1’. Moody’s gave the negative outlook, noting that ‘risks in the Australian housing market rose’. Shares in Genworth Mortgage Insurance Australia’s
(ASX:GMA) last traded flat at $2.99
CurrenciesOne Australian Dollar at 7:30AM was buying 79.86 cents, 60.48 Pence Sterling, 88.22 Yen and 67.19 Euro cents.
CommoditiesGold has lost $9.70 to $US1,327 an ounce.
Silver has lost $0.06 to $US17.83 an ounce.
Oil has gained $0.93 to $US49.74 a barrel.
To ex-dividends37 companies going ex-dividend today
| Name | Code | Date | Amount(cents) | Franking % |
| Adacel Technologies | ADA | 14/09/17 | 10.00 | 0 |
| AMA Group Limited | AMA | 14/09/17 | 2.00 | 100 |
| A.P. Eagers Limited | APE | 14/09/17 | 13.50 | 100 |
| Beacon Lighting Grp | BLX | 14/09/17 | 2.40 | 100 |
| Breville Group Ltd | BRG | 14/09/17 | 15.00 | 60 |
| Big Riv Indust Ltd | BRI | 14/09/17 | 3.50 | 100 |
| Codan Limited | CDA | 14/09/17 | 7.00 | 100 |
| Cml Group Ltd | CGR | 14/09/17 | 0.75 | 100 |
| Data#3 Limited | DTL | 14/09/17 | 5.55 | 100 |
| Environmental Group | EGL | 14/09/17 | 0.06 | 100 |
| Eagle Hlth Hldgs Ltd | EHH | 14/09/17 | 0.50 | 0 |
| Embelton Limited | EMB | 14/09/17 | 27.00 | 100 |
| ERM Power Limited | EPW | 14/09/17 | 3.50 | 100 |
| Flight Centre Travel | FLT | 14/09/17 | 94.00 | 100 |
| Global Construction | GCS | 14/09/17 | 1.00 | 100 |
| Godfreys Grp Ltd | GFY | 14/09/17 | 2.50 | 0 |
| Gazal Corporation | GZL | 14/09/17 | 8.00 | 100 |
| Iron Mountain Incorp | INM | 14/09/17 | 47.85 | 0 |
| Kip McGrath Edu.Cntr | KME | 14/09/17 | 1.40 | 0 |
| Laserbond Limited | LBL | 14/09/17 | 0.30 | 100 |
| Landmark White Ltd | LMW | 14/09/17 | 2.25 | 100 |
| Metlifecare Ltd | MEQ | 14/09/17 | 4.50 | 0 |
| Michael Hill Int | MHJ | 14/09/17 | 2.50 | 0 |
| Millennium Grp Ltd | MIL | 14/09/17 | 5.40 | 100 |
| The Pas Group Ltd | PGR | 14/09/17 | 1.50 | 100 |
| Psc Insurance Ltd | PSI | 14/09/17 | 4.00 | 100 |
| Pacific Smiles Grp | PSQ | 14/09/17 | 3.70 | 100 |
| QMS Media Limited | QMS | 14/09/17 | 1.20 | 100 |
| RXP Services Ltd | RXP | 14/09/17 | 3.00 | 100 |
| South32 Limited | S32 | 14/09/17 | 8.11 | 100 |
| Seek Limited | SEK | 14/09/17 | 21.00 | 100 |
| Smartgrp Corporation | SIQ | 14/09/17 | 16.50 | 100 |
| Supply Network | SNL | 14/09/17 | 5.50 | 100 |
| Virtus Health Ltd | VRT | 14/09/17 | 12.00 | 100 |
| Vita Group Ltd | VTG | 14/09/17 | 7.40 | 100 |
| Western Areas Ltd | WSA | 14/09/17 | 2.00 | 100 |
| XRF Scientific | XRF | 14/09/17 | 0.24 | 100 |
