The Australian sharemarket is expected to open higher this morning after a relatively successful auction of Italian bonds improved investor sentiment. It’s the last trading day of the year today with domestic trading wrapping up at 2.10pm this afternoon.
US economic news
New claims for unemployment benefits increased by 15,000 to 381,000 last week.
And the National Association of Realtors’ Pending Home Sales Index increased 7.3 per cent to 100.1, based on contracts signed in November. That’s the highest level since April 2010.
The figures
The Dow Jones Industrial Average gained 136 points to close at 12,287, the S&P500 rose 13 points to close at 1,263 and the Nasdaq gained 24 points to close at 2,614.
European stocks closed higher: London’s FTSE was up 59 points, Paris gained 56 points and Frankfurt rose 78 points.
To Asian markets, stocks finished mixed: Hong Kong’s Hang Seng fell 121 points, Tokyo’s Nikkei dropped 25 points and China’s Shanghai Composite gained 4 points.
The Australian share market closed lower on Thursday. The S&P/ASX 200 Index fell 18 points to close at 4,071. On the futures market the SPI is currently 37 points stronger.
Currencies
The Australian Dollar at 8:30AM is buying $US1.0143, 65.8 Pence Sterling, 78.74 Yen and 78.25 Euro cents.
Australian economic news
Due out today, November private credit and RPData-Rismark house prices for November.
Company news
Yesterday shares in Hastie Group Limited (ASX:HST) closed flat at $0.56. On face value, Hastie Group Limited (ASX:HST) demonstrated the best post-market performance of the year's secondary equity raisings. At an issue price of 14 cents, and a current price of 56 cents, that's a 296 per cent increase. But these figures ignore November's 10-for-one share consolidation, leaving shareholders who participated in the company's recapitalisation under water. For the financial year to June 30, Hastie Group reported a net loss of $87.8 million.
Yesterday shares in News Corp (ASX:NWS) closed flat at $17.65. The British arm of the company has increased its legal fund to £100 million from £20 million, that’s according to a media report by the Independent newspaper. The fund has reportedly been increased to settle litigation cases brought by victims of phone hacking, with some settlements expected to be over £1 million each. A News International spokesperson has called the figure “speculative”. News Corp booked a net profit of just under $2.7 billion in the year to June 30.
Commodities
Gold is down $23.20 to $US1,541 an ounce for the February contract on Comex. Silver has gained $0.08 to $27.32 for March. Copper has gained less than a cent at $3.37 a pound. Oil is up $0.29 at $99.65 a barrel for February light crude in New York.
