The Australian share market looks set to open slightly higher.
US economic newsThe Census Bureau has reported new homes sales fell 8.4 per cent in June to an annual pace of 350,000, retreating from a two year high reached the month before
FiguresWall Street closed mixed yesterday: The Dow Jones Industrial Average gained 59 points to close at 12,676, the S&P500 lost 0.42 points to close at 1,338 and the Nasdaq lost 9 points to close at 2,854.
European markets closed mixed: London’s FTSE lost 1 point, Paris gained 7 points and Frankfurt gained 16 points.
Asian markets closed down: Hong Kong’s Hang Seng lost 26 points, Tokyo’s Nikkei lost 122 points and China’s Shanghai Composite lost 10 points.
The Australian share market closed 0.2 per cent lower yesterday: The S&P/ASX 200 Index closed 9 points down to finish at 4,124. On the futures market the SPI is 7 points up.
CurrenciesAustralian Dollar at 7:15AM was buying $US1.032 cents, 66.58 Pence Sterling, 80.64 Yen and 84.89 Euro cents.
Economic news due out todayHousing Industry Association: Trades report for the June quarter
Company newsBillabong International Limited's
(ASX:BBG) suitor, TPG Capital, is reportedly considering raising its latest bid for the surfwear retailer. According to The Australian TPG could boost the bid from $1.45 to $1.50 after documents lodged with the Australian Securities Exchange yesterday showed the private equity firm had made an agreement with Perennial to purchase stock at the higher price. Shares in Billabong closed 19.55 per cent up yesterday at $1.32.
Range Resources Ltd
(ASX:RRS) has hit a production milestone of 1000 barrels of oil per day at its fields in Trinidad. The oil and gas explorer says production has increased by more than 120 per cent since the acquisition of the assets in the second quarter of the 2011 financial year. Shares in Range Resources closed 9.78 per cent loweryesterday at $0.077.
Ex-dividendsCentury Australia is going ex-dividend today with a fully franked dividend of $0.014
CommoditiesGold is up $31.90 to $US1,608 an ounce for the August contract on Comex.
Silver is up $0.66 to $27.47 for September. Copper is up $0.02 at $3.37 a pound.
Oil is up $0.47 at US$88.97 a barrel for August light crude in New York.
