Outlook: Aus shares set for moderate open

Market Reports

The Australian share market looks set for a subdued open this morning, following weak leads from US markets that finished in the red coming back from a four year high.

Figures

Wall Street closed lower yesterday: The Dow Jones Industrial Average dropped 68 points to close at 13,204, the S&P500 lost 5 points to close at 1,413 and the Nasdaq lost 9 points to close at 3,067.

European markets meanwhile closed higher. London’s FTSE gained 33 points, Paris added 33 points and Frankfurt added 56 points.

Asian markets closed mixed with Hong Kong’s Hang Seng losing 4 points, while Tokyo’s Nikkei dropped 14 and China’s Shanghai Composite added 11 points.

The Australian share market closed higher yesterday: The S&P/ASX 200 Index closed 19 points up to finish at 4,383. On the futures market the SPI is 3 points down.

Currencies

The Australian Dollar at 7:20AM was buying $US1.049, 66.45 Pence Sterling, 83.13 Yen and 84.12 Euro cents.

Economic news 

Westpac and the Melbourne Institute: Leading Indexes of Economic Activity.

Company news

Global miner BHP Billiton Limited (ASX:BHP) will today release its full year results for the 2012 financial year. Analysts expect BHP to post an annual profit of $16 billion, down from last year’s record profit of $22.56 billion. Experts are forecasting the result will include multi-billion dollar write downs on Shale gas assets. Shares in BHP Billiton closed 0.73 per cent up yesterday at $33.27.

Cedar Woods Properties Limited (ASX:CWP) net profit has risen to a record $34.25 million for the full year. CEO Paul Sadleir says the result was because of a healthy demand for properties in the company’s main focus markets of Victoria and Western Australia. The developer expects another profitable year ahead, driven by strong pre-sales figures. A fully franked final dividend of 14 cents per share has been declared. Shares in Cedar Woods Properties closed 1.52 per cent lower yesterday at $3.90.

Ex-dividends

Domino's Pizza Enterprises Limited (ASX:DMP) with a 14.1 cent fully franked dividend
Objective Corporation Limited (ASX:OCL) with a 2.5 cent 80 per cent franked dividend
Santos Limited (ASX:STO) with a 15 cent fully franked dividend.

Commodities

Gold is up $19.90 to $US1,642 an ounce for the December contract on Comex.
Silver is up $0.83 to $29.43 for September.
Copper is up $0.08 at $3.45 a pound.
Oil is $0.71 higher at US$96.68 a barrel for September light crude in New York.


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