The Aussie sharemarket is tipped to open lower today after Wall St snapped a three day streak, on caution the Greek debt crisis resolution plans are breaking down.
Figures
On Wednesday, the Dow Jones Industrial Average sank 180 points to close at 11,011, the S&P500 shed 24 points to close at 1,151 and the NASDAQ retreated 55 points to close at 2,492.
European stocks closed lower: London’s FTSE was down 76 points, Paris was down 28 and Frankfurt was down 50.
Asian stocks closed mixed: Hong Kong’s Hang Seng down 119, Tokyo Nikkei was up 6 point and China’s Shanghai Composite was down 23 points.
Yesterday, the Australian share market ended 0.9 per cent or 35 points higher to close at 4,040. On the futures market the SPI is down 58 points.
Currencies
The Australian Dollar at 7:35am was buying 97.65 US cents, 62.72 Pence Sterling, 74.79 Yen and 72.15 Euro cents.
Economic news
The ABS is expected to release job vacancy figures for August today.
Company news
Shares in BHP Billiton Limited (ASX:BHP) finished 0.48 per cent higher yesterday at $35.52. The miner came out with its own industry forecasts that the resources boom will create 90,000 jobs in the industry by 2016. That figure is almost 60 per cent higher than government predictions. BHP’s estimates mean the industry will need to find an extra 170,000 workers in the next five years. In the 2011 financial year, BHP Billiton Limited (ASX:BHP) reported a net profit of $22.3 billion.
Shares in Fortescue Metals Group (ASX:FMG) lost 7.94 per cent yesterday, closing at $4.52. CEO Nev Power told the China Iron and Steel Association’s annual conference yesterday the company is on track to triple its capacity, and will be fully funded by the end of the year. Although pricing has softened in the past week or so, he said China’s iron ore export are expected to increase 60 per cent on last year’s total by 2015.
In the first half of the 2011 financial year, Fortescue Metals Group (ASX:FMG) reported a net profit of $952.18 million.
Ex-dividends
PMP (ASX:PMP) is going ex-dividend today with a fully franked one cent, among the companies coming up tomorrow are Auckland Airport, Consolidated Media Holdings and Gowing Brothers.
Commodities
Gold is down $34.40 to $US1,618 an ounce for the December contract on Comex. Silver is down $1.40 cents to $30.13. Copper is down 19 cents at $3.25 a pound. Oil is down $3.24 at $81.21 a barrel for November light crude in New York.
