The Australian share market looks set for a steady start to the day after a shaky start to the week. US stocks edged up slightly on Monday in choppy trade. With no local economic news scheduled for release today investors will be looking to a series of company results due out amid the busiest week of reporting season.
Figures
On Monday: Dow Jones Industrial Average lifted 37 points to close at 10,855. The S&P500 closed flat at 1,124 and the NASDAQ added 4 points to close at 2,345.
European stocks started the week mixed: London’s FTSE up 55 points, Paris up 34 and Frankfurt eased 6 points.
To Asian market, stocks were mixed: Hong Kong’s Hang Seng was up 87, Tokyo Nikkei was down 91 and China’s Shanghai Composite was down 18.
The Australian share market fell 0.47 per cent on Monday: The S&P/ASX 200 Index lost 20 points to close at 4,082. On the futures market the SPI is 2 points higher.
Turning to currencies and the Australian Dollar at 7:35AM was buying $1.0394 US cents, 63.14 Pence Sterling, 79.89 Yen and 72.41 Euro cents.
Company news
Yesterday shares in Western Areas (ASX:WSA) surged to one of the best performers in the S&P/ASX200, jumping 7.39 per cent to close at $5.67, after the nickel miner posted a record full year net profit of $135 million, up from $14.2 million the year before. The result was achieved on the back of increased production at the Spotted Quoll and Flying Fox mines, delivering more than 32,000 tonnes of nickel in ore. Western Areas has declared an unfranked final dividend of 15 cents, bringing the full year payout to 25 cents.
Shares in Primary Health Care Limited (ASX:PRY) dropped 2.92 per cent yesterday to close at $2.66 after the company that owns medical clinics and pathology laboratories reported a 40 per cent drop in its full year net profit. Primary Health Care’s net profit fell to from $132 million to $78 million, dragged down by such factors as the federal government’s funding cuts to pathology and a decline in patient demand. The company has cut its final dividend payout by half from the year before, declaring a final dividend of 5 cents per share.
Ex-dividends
Eleven companies are going ex-dividend today: Ansell, Boral, Integrated Research, Oz Minerals, Platinum Asset Management, Royalco Resources, SAI Global, Super Retail Group, Talent2 International, Wesfarmers and Watpac. Among those coming up tomorrow: Adelaide Brighton, Domino’s Pizza Enterprises, GUD Holdings.
Commodities
Gold is up $39.70 to $US1,891 an ounce for the December contract on Comex. Silver is up $0.89 cents to $43.32 for September. Copper is down 3 cents at $3.96 a pound. Oil is up $1.86 $84.12 a barrel for September light crude in New York.
