Following mixed offshore leads the Australian share market looks set for a steady start to the day.
US economic news
The Labor Department has reported weekly unemployment claims fell by 30,000, the lowest level in more than four years.
Figures
Wall Street closed mixed yesterday: The Dow Jones Industrial Average lost 19 points to close at 13,326, the S&P500 finished flat at 1,433 and the Nasdaq lost 2 points to close at 3,049.
European markets closed up: London’s FTSE added 53 points, Paris added 48 points and Frankfurt gained 76 points.
Asian markets closed finished mixed: Hong Kong’s Hang Seng added 79 points, Tokyo’s Nikkei lost 49 and China’s Shanghai Composite lost 17 points.
The Australian share market closed lower yesterday: The S&P/ASX 200 Index closed 7 points down to finish at 4,484. On the futures market the SPI is 1 point higher.
Currencies
The Australian Dollar at 8:15AM was buying $US1.02 cents, 64.01 Pence Sterling, 80.48 Yen and 79.43 Euro cents.
Company news
Virgin Australia Holdings Limited (ASX:VAH) has reportedly lodged a submission with the Australian Competition and Consumer Commission arguing that consumers would benefit more if the proposed Qantas Airways Limited (ASX:QAN) and Emirates tie up was blocked. According to Fairfax media, Virgin has urged the ACCC to consider the impacts of authorising the deal, citing the impact on air fares and market share as well as the 10 year length of the deal, which it considers inconsistent with recent ACCC approvals. Shares in Virgin Australia Holdings closed 1.2 per cent up yesterday at $0.42.
National Australia Bank Limited (ASX:NAB) customers moved to its new online trading platform have reportedly criticised the system as not being user friendly. Nabtrade Chief Tim Keegan has told Fairfax that it is merely a case of people needing to familiarise themselves with the system. Shares in NAB closed 0.09 per cent higher yesterday at $26.25.
Ex dividends next week
Australian Masters Corporate Bond Fund No.5 Limited (ASX:AKY)
Australian Leaders Fund Limited (ASX:ALF)
Cadence Capital Limited (ASX:CDM)
Magellan Flagship Fund Limited (ASX:MFF)
Nufarm Limited (ASX:NUF)
Commodities
Gold is up $5.50 to $US1,770.60 an ounce for the December contract on Comex.
Silver is down $0.03 to $34.08 for December.
Copper is up $0.03 at $3.75 a pound.
Oil is up $0.82 at US$92.07 a barrel for November light crude in New York.
