Outlook: Aus shares set for flat start

Market Reports

Following mixed finishes in Europe and US Markets failing to respond to positive earnings reports, the Australian Share Market is set for a flat start on its return from the Australia Day long weekend. 
 
Figures

Wall Street closed mixed: The Dow Jones Industrial Average lost 14 points to close at 13,882, the S&P500 lost 3 points to close at 1,500 and the Nasdaq added 5 points to close at 3,154.
 
European markets closed mixed: London’s FTSE gained 10 points, Paris added 3 points and Frankfurt dropped 25. 
 
Asian markets also closed mixed: Hong Kong’s Hang Seng added 91 points, Tokyo’s Nikkei lost 102 and China’s Shanghai Composite added 55 points.
 
The Australian share market closed higher on Friday: The S&P/ASX 200 Index closed 25 points up to finish at 4,835, it rose 64 points over the week. On the futures market the SPI is 3 points down. 
 
Currencies

The Australian Dollar at 8:30AM was buying $US1.041 cents, 66.37 Pence Sterling, 94.54 Yen and 77.40 Euro cents.
 
Economic news

Due out today is National Australia Bank’s monthly business survey for December. 
 
Company news
 
BHP Billiton Limited (ASX:BHP) is at risk of production stoppages from its network of coking coalmines in Queensland’s Bowen Basin, resulting from the deluge soaking the state. Floods have damaged roads and infrastructure throughout Queensland, and according to News Corp reports BHP’s Mitsubishi Alliance joint venture- the world’s largest seaborne coking coal shipper- has been impacted heavily by rains since last Thursday. Shares in BHP closed 0.16 per cent down on Friday at $37.10. 
 
Lend Lease Group (ASX:LLC) has signed an exclusive agreement with UK developer Manor Property Group to design and construct up to 40 thousand student accommodation units across England and Scotland. The contract has a combined value of $370 million, and CEO Steve McCann says it leverages the core capability of Lend Lease’s project management and construction business in the UK. Shares in Lend Lease Group closed 1.09 per cent up on Friday at $10.19. 
 
Ex-dividends

1 company is going ex-dividend today: Djerriwarrh Investments Limited (ASX:DJW) will pay its shareholders a 10 cent fully franked dividend.
 
Commodities

Gold is down $3.70 to $US1,652 an ounce for the February contract on Comex. Silver is down $0.42 to $30.78 for March. Copper is up $0.01 at $3.66 a pound. Oil is up $0.56 at US$96.44 a barrel for March light crude in New York.

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