The Australian share market looks set to open slightly lower this morning following mixed leads as global investors consider stimulus action set to be taken from central banks around the world.
US economic news
The Labor Department reported around 374,000 people filed for first-time unemployment benefits last week, down 14,000 from the week before.
Challenger, Gray & Christmas reported planned job cuts dropped to a 13 month low in June.
The Institute of Supply Management showed its non-manufacturing index eased to 52.1 in June from 53.7 the month before, with a read more than 50 reflecting expansion.
Figures
Wall Street closed mixed yesterday: The Dow Jones Industrial Average lost 47 points to close at 12,897, the S&P500 lost 6 points to close at 1,368 and the Nasdaq closed steady at 2,976.
European markets closed mixed: London’s FTSE gained 8 points, Paris lost 38 points and Frankfurt lost 29 points.
Asian markets also closed mixed: Hong Kong’s Hang Seng added 99 points, Tokyo’s Nikkei lost 24 points and China’s Shanghai Composite also lost 26 points.
The Australian share market closed lower yesterday: The S&P/ASX 200 Index closed 3 points lower yesterday to finish at 4,169. On the futures market the SPI is currently 9 points down.
Currencies
The Australian Dollar at 7:20AM was buying $US1.02 POINT 9 cents, 66.30 Pence Sterling, 82.25 Yen and 83.05 Euro cents.
Company news
Major Fairfax Limited (ASX:FXJ) shareholder Gina Rinehart has sold $50 million worth of Fairfax shares. This drops the mining billionaire’s holding of the media company to just under 15 per cent. Shares in Fairfax Media closed 0.86 per cent higher yesterday at $0.58.
Aquila Resources Limited (ASX:AQA) has satisfied the sale conditions of the 50 per cent divestment of the Issac Plains Coal Mine for $430 million to Ocean Coal Mining. The coal miner expects the settlement to occur by the middle of this month. Shares in Aquila Resources Limited (ASX:AQA) closed 3.41 per cent higher yesterday at $3.03.
Ex-dividends today
Abacus Property Group (ASX:ABP)
Vietnam Industrial Investment Limited (ASX:VII)
Commodities
Gold is down $4.30 to $US1,617 an ounce for the August contract on Comex.
Silver is down $0.08 to $28.20 for September.
Copper is down $0.03 at $3.51 a pound.
Oil is down $0.44 at US$87.22 a barrel for August light crude in New York.
