The SPI is pointing to a positive start for the Australian share market despite soft offshore leads. US stocks ended barely changed as excitement from last week’s stimulus announcement faded. European stocks dipped as concerns about Spain’s debt resurfaced.
Figures
Wall Street closed mixed on Tuesday: The Dow Jones Industrial Average added 12 points to close at 13,565, the S&P500 lost 2 points to close at 1,459 and the Nasdaq lost 1 point to close at 3,178.
European markets ended lower on Tuesday: London’s FTSE lost 25 points, Paris lost 41 points and Frankfurt lost 56 points.
Asian markets long ground on Tuesday: Hong Kong’s Hang Seng lost 56 points, Tokyo’s Nikkei lost 36 and China’s Shanghai Composite lost 19 points.
The Australian share market took a breather from the recent rally and finished 0.2 per cent down yesterday: The S&P/ASX 200 Index closed 8 points lower at 4,395. On the futures market the SPI is 9 points higher.
Currencies
The Australian Dollar at 7:20AM was buying $US1.045 cents, 64.37 Pence Sterling, 82.39 Yen and 80.15 Euro cents.
Economic news due out today Westpac Banking Corporation
(ASX:WBC) - Melbourne Institute: Leading Indexes of Economic Activity.
Company news Eyes will be on David Jones Limited
(ASX:DJS) today when the department store retailer reports its full year financial results. Having earlier flagged a profit fall of between 35 to 40 per cent investors will also be looking out for any hint of a turnaround strategy. Rival retailer Myer Holdings Limited
(ASX:MYR) posted a 14 per cent fall in its fiscal 2012 profit last week and declined to provide financial guidance for the year ahead. Shares in David Jones rose 1.79 yesterday to end the session at $2.27.
G8 Education Limited
(ASX:GEM) has inked a deal to buy seven childcare and education centres in New South Wales for $9.2 million. The news comes just one week after G8 announced it has purchased three childcare and education centres in Victoria for $6.2 million. Shares in G8 Education fell 2 per cent yesterday to close at $1.225.
Ex-dividends today LandMark White Limited
(ASX:LMW) with a 2 cent fully franked dividend
Prime Financial Group Limited
(ASX:PFG) with a 0.25 cent fully franked dividend
Ex-dividends tomorrow G8 Education Limited
(ASX:GEM) Plan B Group Holdings Limited
(ASX:PLB) Slater & Gordon Limited
(ASX:SGH)
Commodities
Gold is up $0.60 to $US1,771 an ounce for the December contract on Comex.
Silver is up $0.35 to $34.72 for December.
Copper is down $0.01 at $3.79 a pound.
Oil is down $1.33 at $US95.29 a barrel for October light crude in New York.
