The Australian share market looks set for a flat start following falls on offshore markets which erased gains on ongoing concerns surrounding political stability in the Eurozone.
Figures
Wall Street closed mixed yesterday: The Dow Jones Industrial Average gained 7 points to close at 13,987, the S&P500 added 1 point to close at 1,512 and the Nasdaq lost 3 points to close at 3,168.
European markets closed mixed: London’s FTSE added 13 points, Paris lost 52 points and Frankfurt dropped 83 points.
Asian markets closed higher: Hong Kong’s Hang Seng added 108 points, Tokyo’s Nikkei added 417 and China’s Shanghai Composite added 1 point.
The Australian share market closed higher yesterday: The S&P/ASX 200 Index closed 38 points up to finish at 4,921. On the futures market the SPI is 7 points up.
Currencies
The Australian Dollar at 8:30AM was buying $US1.032 cents, 65.97 Pence Sterling, 96.59 Yen and 76.41 Euro cents.
Economic news
Due out today from the Australian Bureau of Statistics is its labour force data for January. The Australian Industry Group/Housing Industry Association will release its performance of construction index (PCI) for January and National Australia Bank’s December quarter business survey is also due.
Company news
Telco utility provider Chorus Limited
(ASX:CNU) has announced the resignation of Chris Dyhrberg, the General Maneger of its Network Build team and the man behind the roll out of its Rural Broadband Initiative and Ultra Fast Fibre programmes. CEO Mark Ratcliffe says Mr Dyhrberg’s responsibilities will be split across various Chorus executives following his departure in April. Shares in Chorus closed steady yesterday at $2.31.
Financial Services Group FlexiGroup Limited
(ASX:FXL) has increased its first half net profit by 16 per cent to $32.6 million on the back of the successful diversification of its business revenue streams over the past few years. The board has declared a fully franked interim dividend of 7 cents per share. Shares in FlexiGroup closed 1.25 per cent up yesterday at $4.04.
Ex-dividends tomorrow Westfield Group
(ASX:WDC): 24.75 cents unfranked
Westfield Retail Trust
(ASX:WRT): 9.5 cents unfranked
Commodities
Gold is up $5.30 to $US1,678 an ounce for the April contract on Comex. Silver is steady at $31.88 for March. Copper is down $0.02 at $3.74 a pound. Oil is down $0.02 at US$96.62 a barrel for March light crude in New York.
