The Australian share market looks set to open higher this morning.
US economic news
The Bureau of Labor Statistics has reported first time claims for unemployment benefits fell last week. The claims were down by 35 000, with
353 000 people filing for jobless claims in the week ended 21st July.
Figures
Wall Street closed up yesterday: The Dow Jones Industrial Average gained 212 points to close at 12,888, the S&P500 added 22 points to close at 1,360 and the Nasdaq gained 39 points to close at 2,893.
European markets closed up: London’s FTSE gained 75 points, Paris gained 125 points and Frankfurt gained 176 points.
Asian markets closed mixed: Hong Kong’s Hang Seng added 15 points, Tokyo’s Nikkei added 77 and China’s Shanghai Composite lost 10 points.
The Australian share market closed higher yesterday: The S&P/ASX 200 Index closed 24 points up to finish at 4,148. On the futures market the SPI is 37 points up.
Currencies
The Australian Dollar at 7:15AM was buying $US1.039 cents, 66.32 Pence Sterling, 81.36 Yen and 84.67 Euro cents.
Company news
Perpetual Limited (ASX:PPT) has announced that its funds under management have fallen to $22.6 billion for the June quarter, down from $23.7 billion at the end of March. The financial services group says the fall was mainly due to about $550 million of market-related declines and paying around $250 million in distributions. Shares in Perpetual closed 0.13 per cent up yesterday at $22.67.
Takeover target Hastings Diversified Utilities Fund (ASX:HDF) has responded to APA Group’s (ASX:APA) intention to increase its takeover offer. Hastings says the company will engage with APA about the terms on which due diligence can be granted, after receiving a new $1.3 billion offer from APA earlier this week. Shares in APA Group closed 1.01 per cent down yesterday at $4.90
Ex-dividends
On Monday the 30th July ALCOA (ASX:AAI) will be going ex-dividend with a $0.03 unfranked dividend.
Commodities
Gold is down $00.30 to $US1,614.80 an ounce for the August contract on Comex.
Silver is up $0.03 to $27.48 for September.
Copper is up $0.02 at $3.39 a pound.
Oil is up $0.42 at US$89.39 a barrel for August light crude in New York.