The Australian share market looks set to open slightly lower following mixed offshore leads as Wall Street finished in negative territory on the back of websearch giant Google reporting a slide in earnings. After starting Monday at 4,487 points, the local market has climbed for most of the week, culminating in reaching a 15 month high yesterday.
US economic news
The labor department has released its weekly jobless claim figures and its somewhat of a rollercoaster ride, going from a four year low the previous week to 388,000 new claims this week, with an extra 46,000 people filing for first time unemployment benefits.
Figures
Wall Street closed lower yesterday: The Dow Jones Industrial Average lost 8 points to close at 13,549, the S&P500 is down by 4 points to close at 1,457 and the Nasdaq shed 31points to finish at 3,073.
European markets closed up: London’s FTSE added 6 points, Paris gained 8 and Frankfurt is 43 points higher.
Asian markets also closed higher: Hong Kong’s Hang Seng added 102 points, Tokyo’s Nikkei added 176 and China’s Shanghai Composite gained 26 points.
The Australian share market closed higher yesterday: The S&P/ASX 200 Index closed 31 points higher to finish at 4,559. On the futures market the SPI is 7 points down.
Currencies
The Australian Dollar at 8:20AM was buying $US1.036 cents, 64.63 Pence Sterling, 82.21 Yen and 79.31 Euro cents.
Company news
Seven West Media Limited (ASX:SWM) CEO Don Voelte has reportedly fueled speculation that he is preparing to leave the company after only taking up his position in June this year. Mr Voelte told Fairfax media that he will hopefully be replaced by one of his divisional heads, having taken on the job initially as a favour to friends including Seven West chairman Kerry Stokes. Shares in Seven West closed 2.35 per cent lower yesterday at $1.25.
Woolworths Limited (ASX:WOW) CEO Grant O’brien has told News Limited that the company’s 2.3 per cent quarterly sales gain is proof that the retailers reforms are working. Mr. O’brien told News that Woolworths reform plans, including the sale of its Dick Smith electronics arm and a joint venture with Indian electrical conglomerate Tata, is only about 20 per cent of the way along. Shares in Woolworths closed down 0.24 per cent yesterday at $29.09.
Ex-dividends
BioTech Capital Limited (ASX:BTC) with an unfranked dividend of 1 cent.
Commodities
Gold is down $8.30 to $US1,745 an ounce for the December contract on Comex. Silver is down $0.36 to $32.87 for December. Copper is down $0.01 at $3.74 a pound. Oil is down $0.02 at US$92.10 a barrel for November light crude in New York.
