The Australian share market is set for a soft start to the day after US markets dragged overnight, as concerns mount over unresolved spending and tax issues and in anticipation for quarterly earnings reports from major US corporations, to be released this week.
Figures
Wall Street closed lower yesterday: The Dow Jones Industrial Average lost 51 points to close at 13,384, the S&P500 lost 5 points to close at 1,462 and the Nasdaq was down by 3 points to close at 3,099.
European markets closed lower London’s FTSE lost 25 points, Paris shed 25 and Frankfurt lost 44 points.
Asian markets closed mixed: Hong Kong’s Hang Seng lost 1 point, Tokyo’s Nikkei lost 89 and China’s Shanghai Composite added 8 points.
The Australian share market closed lower yesterday: The S&P/ASX 200 Index closed 6 points down to finish at 4,717. On the futures market the SPI is 5 points higher.
Currencies
The Australian Dollar at 8:30AM was buying $US1.051, 65.23, Pence Sterling, 92.24 Yen and 80.14 Euro cents.
Economic news
Australian Industry Group: Performance of construction index for December.
Australian Bureau of Statistics: International trade in goods and services data for November.
Company news Engineering company Brierty Limited
(ASX:BYL) has secured a contract from Fremantle Ports worth about $13 million. Under the terms of the contract, Brierty will construct roads and install services at the port’s Rous Head Extension project. Brierty has expertise in delivering urban civil infrastructure projects. Shares in Brierty are steady at $0.34.
Shares in Blackgold International Holdings Limited
(ASX:BGG) were placed in a trading halt yesterday as it prepares a response to a media article. The China focused thermal coal producer has four existing underground mines in China. Shares in Blackgold last traded at $0.195.
Ex-dividends Aberdeen Leaders Limited
(ASX:ALR) 2 cent fully franked dividend
Norfolk Group Limited
(ASX:NFK) with a 1 cent unfranked dividend
Commodities
Gold is down $2.60 to $US1,646 an ounce for the February contract on Comex. Silver is up $0.14 to $30.08 for March. Copper is down $0.02 at $3.68 a pound. Oil is up $0.10 at US$93.19 a barrel for February light crude in New York.
