Outlook: ASX awaits Greek decision

Market Reports

The Australian share market this morning awaits a decision on a second Greek bailout package. On Monday US markets were closed for a public holiday. European markets rose in anticipation the bailout will be approved.

On Monday Wall Street was closed for the President’s Day public holiday. On Friday the Dow Jones Industrial Average added 46 points to close at 12,950, the S&P500 added 3 points to close at 1,361 and the Nasdaq lost 8 points to close at 2,952.

European markets finished higher on Monday: London’s FTSE added 40 points, Paris added 33 points and Frankfurt added 100 points.

Asian markets closed mixed at the start of the week: Hong Kong’s Hang Seng lost 67 points, Tokyo Nikkei added 101 and China’s Shanghai Composite added 6 points.
The Australian share market advanced 1.4 per cent on Monday: The S&P/ASX 200 Index gained 60 points to finish at 4,256. On the futures market the SPI is now 2 points higher.


The Australian Dollar at 8:20AM was buying $US1.0756 cents, 67.88 Pence Sterling, 85.66 Yen and 81.22 Euro cents.

Economic news due out today

Reserve Bank of Australia: Monthly board meeting minutes for February 2012

Company news

Shares in Leighton Holdings Limited (ASX:LEI) rose 1.75 per cent on Monday, closing at $23.83. Leighton’s wholly owned subsidiary Thiess has scored a $500 million contract at the Chevron-operated Wheatstone liquefied natural gas project as part of a joint venture. The contract will see Thiess and tank design firm EV LNG Australia build storage tanks at the $29 billion project in Western Australia. Thiess says the project will create 475 jobs, with 75 per cent of the work to take place in Australia. In the first half of its 2012 financial year Leighton Holdings booked a net profit of $345 million.

Shares in Nucoal Resources Limited (ASX:NCR) jumped 12.07 per cent yesterday, closing at $0.325, that was after the New South Wales explorer announced a strategic acquisition of a coal tenement. Nucoal has inked a $76 million deal to acquire the Plashett Project in the New South Wales Upper Hunter Valley from Big Ben Holdings. In the 2011 financial year Nucoal Resources booked a net loss of $3.4 million. 

Alumina Limited with a 2.79 cent fully franked interim dividend
Domino’s Pizza Enterprises with a 13 cent fully franked interim dividend
Integrated Research Limited with a 2 cent 40 per cent franked interim dividend
Platinum Asset Management with an 8 cent fully franked interim dividend
Wesfarmers Limited with a 70 cent fully franked interim dividend


Gold is down $2.50 to $US1,726 an ounce for the April contract on Comex.
Silver is down $0.154 to $33.22 for March.
Copper is down $0.083 at $3.71 a pound.
Oil is up $0.93 at $103.24 a barrel for March light crude in New York.

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