The Australian share market looks set to lift today, following on from a positive lead from Wall St as the earnings season delivered mixed results. US stocks rose as gains in Boeing and Google offset weakness from Citigroup. Apple fell on news it’s CEO Steve Jobs is taking medical leave. While at home Aussie shares firmed on Tuesday, the miners gaining after Rio and Fortescue posted fourth quarter production results.
On Tuesday, the Dow Jones Industrial Average, closed 51 points stronger to 11,838. S&P500 added 2 points to close 1,295 and the NASDAQ firmed 11 points to close 2,766.
European stocks were higher: London’s FTSE up 71 points, Paris up 37 and Frankfurt up 65.
To Asian markets, stocks were mixed: Hong Kong’s Hang Seng was down 3 points, Tokyo was up 16 points and China’s Shanghai Composite closed 2 points higher.
The Australian share market rose on Tuesday. The S&P/ASX 200 Index advanced 39 points to close at 4,802 and on the futures market the SPI is up 17 points. Turning to currencies and the Aussie Dollar at 8:30AM was buying 99.89 US cents, 62.6 Pence Sterling, 82.52 Yen and 74.62 Euro cents.
In local economic news: Due out today The Australian Bureau of Statistics international merchandise imports in December.
Company news: On Tuesday shares in Virgin Blue Holdings Ltd (ASX:VBA) closed 3.49 per cent down at $0.415. Virgin’s founder Sir Richard Branson has told the media he is on the hunt to join a global alliance to strengthen Virgin Atlantic Airways. Branson says an alliance in the next year is vital to the airline and “a big brother” will help take Virgin Atlantic through the next 30 years. Just last week Virgin Blue Holdings Ltd (ASX:VBA) partnered with Skywest (ASX:SXR) airlines to strengthen its domestic network, adding to a tie-up with Etihad announced last year. In the 2010 financial year Virgin Blue posted a $21.3 million net profit.
Super Retail Group Ltd (ASX:SUL) is steady at $6.23. Super Retail says it expects to boost its net profit to between $24.5 million and $25 million in the first half of the current financial year. The guidance is up from the $15.5 million recorded in the first half of fiscal 2010, which included a $2 million impairment charge. The company will present its full half year trading results on 23 February. In the 2010 financial year, Super Retail Group lifted its net profit by 18 per cent to $38 million.
To ex-dividends: No company going ex-dividend today. Coming up tomorrow is Mirrabooka Investments with a 4 cent fully franked dividend.
To commodities: Gold is up $7.70 to $US1,368 an ounce for the February contract on Comex, silver is up $0.59 to $28.91 for March and copper is up $0.02 to $4.43 a pound. Oil is down $0.16 at $91.38 a barrel for February light crude in New York.
