The Aussie sharemarket’s expected to open higher after key offshore markets jumped, after all 17 eurozone countries agreed to a “fiscal compact”, regarding sustainable public finances.
US
ComScore says online spending remained strong in early December, a period that usually marks a lull in the US holiday shopping frenzy. For the week ending December 9, consumers spent $5.9 billion online, up 15 per cent from the same period last year.
Figures
On Friday, the Dow Jones Industrial Average rose 187 point to close at 12,184, the S&P500 rose 21 to 1,255 and the Nasdaq gained 50 points to close at 2,647.
European stocks closed higher on Friday: London’s FTSE was up 45 points, Paris was up 77 points and Frankfurt was up 112 points.
Asian stocks were lower: Hong Kong’s Hang Seng was down 522 points, Tokyo Nikkei was down 128 and China’s Shanghai Composite was down 15.
Australian shares slumped on Friday: The S&P/ASX 200 Index lost 78 points to close at 4,203. On the futures market the SPI is up 73 points.
Currencies
The Australian Dollar at 8:50am was buying $1.0211 US cents, 65.24 Pence Sterling, 79.34 Yen and 76.32 Euro cents.
Economic news
The Australian Bureau of Statistics (ABS) is releasing its data on international trade in goods and services for October, as well as Housing finance for October.
Company news
At the end of last week shares in Woolworths Limited (ASX:WOW) closed 0.27 per cent lower at $25.61. The supermarket’s reportedly recouped $700,000 from Computershare on behalf of investors who missed out on the October hybrid issue. Fairfax reports Woolworths’ group treasurer convinced Computershare to return the interest it earned on funds, which was money typically kept as part of the transaction fee .
Woolworths Limited (ASX:WOW) reported a profit of $2.1 billion for the 2011 financial year.
On Friday shares in TEN Network Holdings (ASX:TEN) dropped 1.63 per cent to finish at 90.5 cents. Australia’s richest woman, mining magnate Gina Rinehart, has joined the Ten Network Holdings board of directors – the first time she’s been elected to the board of a listed company. Rinehart bought 10 per cent of the company last year, and says she’s in a strong position to monitor the company’s performance. TEN Network Holdings (ASX:TEN) reported a profit of $17.6 million for the year to August.
Ex-dividends
Australian Master Corp Bond with a fully franked $1.60; James Hardie Industries with an unfranked 3.9 cents; and Lemarne with an unfranked $3.25.
Commodities
Gold is up 40 cents at $US1,716 an ounce for the February contract on Comex. Silver is up 72 cents to $32.25 for March. Copper is up five cents at $3.56 a pound. Oil is up $1.07 cents to $99.41 a barrel for January light crude in New York.
