The SPI is pointing to a positive start to the session for the Australian share market ahead of local jobs data due this morning. US and European markets traded cautiously and closed mixed yesterday ahead of a key European Central Bank meeting Thursday and America’s monthly jobs report on Friday.
Figures
Wall Street closed mixed on Wednesday: The Dow Jones Industrial Average firmed 12 points to close at 13,047, the S&P500 dipped 2 points to close at 1,403 and the Nasdaq lost 6 points to close at 3,069.
European markets also ended mixed on Wednesday: London’s FTSE eased 14 points, Paris gained 7 points and Frankfurt lifted 32 points.
Asian markets finished lower on Wednesday: Hong Kong’s Hang Seng lost 285 points, Tokyo’s Nikkei lost 96 and China’s Shanghai Composite lost 6 points.
The Australian share market lifted from lows by session’s end but closed 0.6 per cent down on Wednesday: The S&P/ASX 200 Index dropped 25 points to finish at 4,279. On the futures market the SPI is 13 points higher.
Currencies
The Australian Dollar at 7:20AM was buying $US1.019 cents, 64.12 Pence Sterling, 79.93 Yen and 80.91 Euro cents.
Economic news due out today
The Australian Bureau of Statistics: Labour force data for August
Company news Pilbara focussed iron ore explorer Flinders Mines Limited
(ASX:FMS) has shrugged off fears surrounding the plunging price of iron ore, as shares in iron ore miner Fortescue Metals Group Limited
(ASX:FMG) continued to extend losses yesterday. Managing Director Gary Sutherland says the difference for Flinders is that it’s not in production yet and has assumed conservative long-term iron ore prices for its $1.1 billion Pilbara Iron Ore Project. The price of iron ore has now dropped to a three year low of $US86.90 per tonne. Shares in Flinders Mines fell 1.12 per cent on Wednesday, finishing at $0.088.
Brambles Limited
(ASX:BXB) says it’s in robust and resilient shape despite the ongoing challenges of uncertain and volatile economic conditions in many of its major markets. The pallets and containers supplier has also confirmed its fiscal 2013 profit guidance which represents year-on-year growth of between 4 per cent to 10 per cent at June’s exchange rates. Shares in Brambles eased 0.29 per cent on Wednesday, ending at $6.82.
Commodities
The price of gold is up $1.40 to $US1,695 an ounce for the December contract on Comex.
Silver is down $0.03 to $32.30 for December.
Copper is down $0.01 at $3.52 a pound.
Oil is up $0.06 at $US95.36 a barrel for October light crude in New York.
Ex-dividends
