Following positive leads, the SPI is pointing to a soft open to the week for the Australian share market.
Economic news
The latest jobs report has come in slightly better than expected. The Labor Department reported that the unemployment rate remained steady at 8.3 per cent while the economy added 227,000 jobs last month.
Figures
Wall Street closed up on Friday: The Dow Jones Industrial Average gained 14 points to close at 12,922, the S&P500 gained 5 points to close at 1,371 and the Nasdaq gained 18 points to close at 2,988.
European markets closed up at the end of last week: London’s FTSE gained 28 points, Paris gained 9 points and Frankfurt gained 46 points.
Asian markets closed up on Friday: Hong Kong’s Hang Seng added 185 points, Tokyo’s Nikkei added 161 and China’s Shanghai Composite added 19 points.
The Australian share market closed higher on Friday: The S&P/ASX 200 Index closed 41 points up to finish at 4,212. On the futures market the SPI is 3 points higher.
Currencies
The Australian Dollar at 8:40AM was buying $US1.057 cents, 67.41 Pence Sterling, 87.16 Yen and 80.59 Euro cents.
To company news:
Shares in Viterra (ASX:VTA) closed 2.27 per cent up on Friday $10.35. Dual listed grain handler, Viterra has confirmed it’s received an unsolicited expression of interest from third parties, reportedly worth $5.2 billion. According to media reports, Glencore International could be a likely suitor. In the 12 months to the end of October, Viterra reported a net profit of $252 million.
Shares in National Australia Bank Limited (ASX:NAB) closed 0.77 per cent up on Friday at $23.56. For the first time in the three years the bank has increased home loan interest rates for its UK subsidiary, Clydesdale and Yorkshire Banks. The decision to raise the basic lending rate to 4.95 per cent will apply to 30,000 borrowers. NAB posted an annual net profit of $5.2 billion in the 2011 financial year.
Ex-dividends
13 companies are going ex-dividend tomorrow, among them are:
Automotive Holdings
Billabong International
CSG
Homeloans
Magellan Financial Group
Nuplex Industries.
Comodities:
Gold is up $10 to 17 hundred and 11 US dollars an ounce for the April contract on Comex.
Silver is up $0.38 to $34 for March.
Copper is up 7 cents at $3.86 a pound.
Oil is up $0.82 to $107 a barrel for March light crude in New York.
