Boosted by positive offshore leads the Australian share market is set to climb over this year’s closing high this morning. US stocks rose on hopes for more stimulus from the Federal Reserve’s monetary policy meeting amid concerns over stalling fiscal cliff negotiations. European stocks also lifted after German investor sentiment hit a seven month high. At home the Australian dollar continues to gain strength and is this morning buying just over 105 US cents.
Figures
Wall Street finished Tuesday higher: The Dow Jones Industrial Average gained 79 points to close at 13,248, the S&P500 gained 9 points to close at 1,428 and the Nasdaq gained 35 points to close at 3,022.
European markets also rose on Tuesday: London’s FTSE added 3 points, Paris added 34 points added Frankfurt added 59 points.
Asian markets closed mixed on Tuesday: Hong Kong’s Hang Seng added 47 points, Tokyo’s Nikkei lost 8 and China’s Shanghai Composite lost 9 points.
The Australian share mark ended 0.4 per cent stronger yesterday, lifting to the highest close this year: The S&P/ASX 200 index gained 18 points on Tuesday to finish at 4,576. On the futures market the SPI is 16 points stronger.
Currencies
The Australian Dollar at 8:20AM was buying $US1.052 cents, 65.36 Pence Sterling, 86.88 Yen and 80.98 Euro cents.
Economic news due out today Westpac Banking Corporation
(ASX:WBC)-Melbourne Institute: Survey of Consumer Sentiment
Reserve Bank of Australia: Credit card purchases and balances
Australian Bureau of Statistics: Lending finance data for October
Company news Linc Energy Limited
(ASX:LNC) has told the ASX it has no explanation for its recent share price spike other than recent updates on its projects and technology. Linc surged to yesterday’s best performer by close after making the announcement and recapping the company developments earlier in the session. Shares in Linc Energy jumped 17.51 per cent on Tuesday to close at $1.04.
Arafura Resources Limited
(ASX:ARU) has announced a maiden JORC ore reserve for its wholly owned Nolans Rare Earths Project in the Northern Territory. The mining company says the reserve supports a 22 year mine life and is a landmark and key milestone to the project’s commercialisation. Shares in Arafura Resources rose 3.03 per cent on Tuesday, closing at $0.17.
Ex-dividends today
James Hardie Industries plc
(ASX:JHX) with a 4.77 cent unfranked dividend
Ex-dividends next week
Amadeus Energy Limited
(ASX:AMU) with a 2 cent unfranked dividend
Singapore Telecommunications Limited
(ASX:SGT) with a 6.8 cent unfranked dividend
Thorn Group Limited
(ASX:TGA) with a 4.5 cent fully franked dividend
Australian Infrastructure Fund Limited
(ASX:AIX) with a 5.5 cent fully franked dividend
BWP Trust
(ASX:BWP) with a 6.9 cent unfranked dividend
Charter Hall Retail REIT
(ASX:CQR) with a 13.3 cent unfranked dividend
Commodities
The price of gold is down $4.80 to $US1,710 an ounce for the February contract on Comex.
Silver is down $0.36 to $33.02 for March.
Copper is down $0.02 at $3.69 a pound.
Oil is up $0.23 at $US85.79 a barrel for January light crude in New York.
