Following mixed leads, the Australian share market looks set to open slightly higher. European markets closed lower. Wall Street investors were buoyed by news that tech giant Apple will again start paying dividends and launch a share buy-back.
Figures
Wall Street closed up yesterday: The Dow Jones Industrial Average gained 7 points to close at 13,239, the S&P500 is up 6 points to close at 1,410 and the Nasdaq is up 23 points to close at 3,078.
European markets closed down: London’s FTSE lost 4 points, Paris down by 17 and Frankfurt is down 4 points.
Asian markets closed mixed: Hong Kong’s Hang Seng lost 203 points, Tokyo’s Nikkei added 12 and China’s Shanghai Composite added 5 points.
The Australian share market closed higher yesterday: The S&P/ASX 200 Index closed 15 points up to finish at 4,291. On the futures market the SPI is currently up 30 points.
Currencies
The Australian Dollar at 8:30AM was buying $US1.06 cents, 66.77 Pence Sterling, 88.44 Yen and 80.15 Euro cents.
Economic news due out today
Reserve Bank of Australia: Minutes of March Monetary Policy Meeting
Company news
Shares in Telstra Corporation Limited (ASX:TLS) closed 0.92 per cent down yesterday at $3.23. Ratings company Fitch has lifted its outlook for Australia’s largest telco. Telstra’s outlook has been revised from negative to stable. The senior unsecured rating has been affirmed at ‘A’. Telstra recorded a net profit of $1.5 billion for the first half of its 2012 financial year.
Shares in Qantas Airways Limited (ASX:QAN) closed 0.57 per cent up yesterday at $1.77. Qantas is facing action from three union groups who are demanding engineering and maintenance jobs remain in Australia. Australia’s largest airline has vowed it will not send any maintenance jobs offshore, but is aware of the impact of new technologies on its work force. In the first half of the 2012 financial year, Qantas reported a net profit of $42 million.
Ex-dividends
Three companies are going ex-dividend:
Dicker Data Limited (ASX:DDR)
Emerging Leaders Investment Limited (ASX:ELI)
McPherson's Limited (ASX:MCP)
Commodities
Gold is up $11.50 to $US1,167 an ounce for the April contract on Comex.
Silver is up $0.35 to $32.96 for May.
Copper is up $0.03 at $3.91 a pound.
Oil is up $1.03 at $108.09 a barrel for April light crude in New York.
