The Australian share market looks set to peg back some of yesterday losses following a rebound in US shares amid positive earnings reports, as well as recoveries in European markets.
Figures
Wall Street closed up yesterday: The Dow Jones Industrial Average gained 99 points to close at 13,979, the S&P500 added 16 points to close at 1,511 and the Nasdaq went up by 40 points to close at 3,172.
European markets closed up: London’s FTSE added 36 points, Paris gained 35 and Frankfurt added 26 points.
Asian markets closed mixed: Hong Kong’s Hang Seng dropped 536 points, Tokyo’s Nikkei lost 213 and China’s Shanghai Composite added 5 points.
The Australian share market closed lower yesterday: The S&P/ASX 200 Index closed 25 points down to finish at 4,883. On the futures market the SPI is 20 points higher.
Currencies
The Australian Dollar at 8:40AM was buying $US1.039 cents, 66.37 Pence Sterling, 97.25 Yen and 76.53 Euro cents.
Economic news
Due out today from the Australian Bureau of Statistics is retail trade data for December.
Company news Golden West Resources Limited
(ASX:GWR) has received state government approval to develop the next stage of a new iron ore export facility at the Port of Esperance in Western Australia. Chief Craig Ferrier says the potential to deliver a multi-user iron ore facility by early 2015 gives the company the confidence to accelerate development at its Wiluna West Iron Ore project. Shares in Golden West Resources closed flat yesterday at $0.25.
Investment company ING Private Equity Access Limited
(ASX:IPE) has announced an asset sale which represents around 2.6 per cent of total assets. Ausfuel Consolidated will be sole to Puma Energy and return cash to the company, although specific deal metrics remain confidential. Shares in ING Private Equity closed 1.32 per cent lower yesterday at $0.375.
Ex-dividends today
Titan Energy Services Limited
(ASX:TTN): 2 cent dividend, fully franked.
Commodities
Gold is down $2.90 to $US1,673.50 an ounce for the April contract on Comex. Silver is up $0.16 to $31.88 for March. Copper is up $0.002 at $3.77 a pound. Oil is up $0.47 at US$96.64 a barrel for March light crude in New York.
