The Australian share market looks set to open lower after global markets slid overnight over concerns that Greece’s debt crisis is far from being resolved.
Figures
Wall Street closed down yesterday: The Dow Jones Industrial Average lost 97 points to close at 12,835, the S&P500 lost 9 points to close at 1,355 and the Nasdaq lost 12 points to close at 2,935.
European markets closed mixed: London’s FTSE lost 25 points, Paris lost 6 and Frankfurt gained 31 points.
Asian markets closed down: Hong Kong’s Hang Seng shedded 154 points, Tokyo’s Nikkei lost 137 and China’s Shanghai Composite is down by 40 points.
The Australian share market closed lower yesterday: The S&P/ASX 200 Index closed 39 points down to finish at 4,275. On the futures market the SPI is currently 30 points lower.
Currencies
The Australian Dollar at 7:20AM was buying almost 1:1 with the USD, at $US1.0041, 62.26 Pence Sterling, 79.97 Yen and 77.66 Euro cents.
Economic news
Due out today from the Australian Bureau of Statistics is labour force data for April with expectations the unemployment rate has risen.
Stocks to watch
Origin Energy Limited( ASX:ORG) is reportedly in negotiations with the US government’s Export-Import Bank to obtain a mammoth $2.93 billion loan. According to The Australian this morning, Origin is looking to expand its Australia Pacific LNG plant in Galdstone in Queensland. If the US Export-Import Bank proceeds, it will be the largest loan made in its 78-year legacy. The company is said to be close to settling deals with commercial lenders. Shares in Origin Energy closed 0.62 per cent down yesterday at $12.90
The Australian Competition and Consumer Commission has allowed Viterra (ASX:VTA) more time to introduce an auction system that will allocate port terminal capacity to exporters. The deadline has been extended to November this year. Australia’s competition regulator said last month, it would work with the wheat industry and Viterra to improve capacity allocation arrangements for port terminal services in South Australia for the export of bulk wheat. Shares in Viterra closed 0.51 per cent up yesterday at $15.78.
Ex-dividends
One company is going ex-dividend today:
Australia and New Zealand Banking Group (ASX:ANZ)
Commodities
Gold is down $10.30 to $US1,594 an ounce for the June contract on Comex. Silver is down $0.22 to $29.24 for July. Copper is down $0.02 at $3.66 a pound. Oil is down $0.20 at $96.81 a barrel for June light crude in New York.
