The Australian share market looks set to sag at open with the SPI pointing lowerfollowing losses of over 1 per cent across US markets still stifled by concerns over the economic outlook ahead of the approaching fiscal cliff.
FiguresWall Street closed lower yesterday: The Dow Jones Industrial Average lost 185 points to close at 12,571, the S&P500 lost 19 points to close at 1,355 and the Nasdaq shed 37 to close at 2,847 points.
European markets also finished lower: London’s FTSE lost 64 points, Paris dropped 31 and Frankfurt is down by 67 points.
Asian markets meanwhile, closed up: Hong Kong’s Hang Seng added 253 points, Tokyo’s Nikkei gained 4 and China’s Shanghai Composite is up by 8 points.
The Australian share market closed higher yesterday: The S&P/ASX 200 Index closed 9 points up to finish at 4,388. On the futures market the SPI is 42 points down.
CurrenciesThe Australian Dollar at 8:15AM was buying $US1.037 cents, 65.52 Pence Sterling, 83.26 Yen and 81.51 Euro cents.
Economic newsDue out today from the Australian Bureau of Statistics is its data on new motor vehicles sales for October.
Company news Singapore Telecommunications Limited
(ASX:SGT) Australian arm Optus has reportedly refused to rule out more job cuts in its bid to stabilised dipping earnings.According to News Limited reports, Optus consumer chief executive Kevin Russell said a broad search for efficiency at the company had barely started. Shares in Singtel closed flatyesterday at $2.47.
New Hope Corporation Limited
(ASX:NHC) has released new plans for its New Acland mine expansion, taking into consideration government and community concerns surrounding the projects proximity to the Jondaryan township in Queensland’s South West. Queensland Premier Campbell Newmann says that whole the changes are positive, he is unable to support them until the proposal goes through the appropriate approval process. Shares in New Hope closed 0.23 per cent higher yesterday at $4.35.
Ex-dividendsBank of Queensland Limited
(ASX:BOQ), offering a 26 cent fully franked dividend
Ex-dividends tomorrowAtlas Iron Limited ( ASX:AGO) with a 3 cent unfranked dividend
Incitec Pivot Limited
(ASX:IPL) with a 9.1 cent 75 per cent franked dividend
SP AusNet ( ASX:SPN) with a 4.1 cent 33.3 per cent franked dividend
CommoditiesGold is up $5.30 to $US1,730 an ounce for the December contract on Comex
Silver is up $0.39 to $32.88 for December.
Copper is down $0.02 at $3.45 a pound.
Oil is up $0.94 at US$86.32 a barrel for December light crude in New York.
