The Australian share market looks set for a positive start to the week, despite disappointing US jobs data, Wall St closed last week on a high in anticipation of possible stimulus measures from the US Federal Reserve.
US economic news
Weaker than expected jobs data was reported on Friday by the Department of Labor. 96,000 jobs were added for August down from 141,000 the month before. The result was below expectations of 125,000 new jobs.
Figures
Wall Street closed up on Friday: The Dow Jones Industrial Average gained 15 points to close at 13,307, the S&P500 added 6 points to close at 1,438 and the Nasdaq was up by 1 point to close at 3,136.
European markets closed up: London’s FTSE gained 17 points, Paris added 9 and Frankfurt gained 47 points.
Asian markets closed up: Hong Kong’s Hang Seng added 593 points, Tokyo’s Nikkei added 191 and China’s Shanghai Composite gained 76 points.
The Australian share market closed higher on Friday: The S&P/ASX 200 Index closed 13 points up to finish at 4,326. On the futures market the SPI is 18 points higher.
Currencies
The Australian Dollar at 7:20AM was buying $US1.04, 64.92 Pence Sterling, 81.34 Yen and 81.17 Euro cents.
Economic news
Due out today from the Australian Bureau of Statistics is housing finance for July.
Company news Mirvac Group
(ASX:MGR) will return to court in an effort to recover funds from two of Nathan Tinkler's private companies. The NSW Supreme Court had ordered the companies pay about $17 million by the 1st September this year, after Mr Tinkler failed to complete the purchase of an industrial site in Newcastle last year. Shares in Mirvac closed 0.7 per cent down on Friday at $1.415.
Rio Tinto Limited
(ASX:RIO) has completed its acquisition of BHP Billiton Limited’s
(ASX:BHP) stake in Richards Bay Minerals. The global miner paid $1.7 billion and says the acquisition doubles its stake and further strengthens its titanium dioxide portfolio. Shares in BHPclosed 4.43 per cent up on Friday at $52.38.
Commodities
Gold is up $65.60 to $US1,740.50 an ounce for the December contract on Comex.
Silver is up $1.30 to $33.69 for December.
Copper is up $0.12 at $3.64 a pound. Oil is up $0.89 at US$96.42 a barrel for October light crude in New York.
Ex- Dividends
AEF Australian Ethical Investment Limited
(ASX:AEF)
BSA Limited (ASX:BSA
Cash Converters International Limited
(ASX:CCV)
Clime Investment Management Limited
(ASX:CIW)
Kingsgate Consolidated Limited (ASX:KCN
Monadelphous Group Limited (ASX:MND
Prophecy International Holdings Limited
(ASX:PRO)
S teamships Trading Company Limited
(ASX:SST)
Tox Free Solutions Limited (ASX:TOX
