The SPI is pointing to a positive start for the Australian share market despite Wall Street pulling back from its recent rally. European stocks ended mixed as the region's finance ministers prepared to hold financial aid talks. Across Asia many key financial markets closed for public holidays mainly for Lunar New Year celebrations.
Figures
Wall Street started its trading week in the red: The Dow Jones Industrial Average lost 22 points to close at 13,971, the S&P500 lost 1 point to close at 1,517 and the Nasdaq lost 2 points to close at 3,192.
European markets started the week mixed: London’s FTSE added 13 points, Paris added 1 point and Frankfurt lost 18 points.
The Australian share market pulled back from last week’s 22-month high and started the new trading week in the red: The S&P/ASX 200 Index rose dipped 12 points to finish at 4,960. On the futures market the SPI is 17 points higher.
Currencies
The Australian Dollar at 8:15AM was buying $US1.027 cents, 65.62 Pence Sterling, 96.56 Yen and 76.69 Euro cents.
Economic news due out today Housing Industry Association: Trades Report for the December quarter
National Australia Bank Limited’s
(ASX:NAB): Monthly business survey for January
Company news Shares in Alkane Resources Limited
(ASX:ALK) jumped yesterday after the minerals explorer scored a
mining lease for its Tomingley Gold Project in New South Wales. Alkane expects development to start immediately and has forecast first gold production will be delivered later this year. Shares in Alkane Resources jumped 16.81 per cent on Monday, ending at $0.66.
Shares in Hills Holdings Limited
(ASX:HIL) plunged yesterday after booking a first half net loss and failing to give specific profit guidance.
The company which is the maker of the Hills Hoist clotheslines swung to a net loss of $73.6 million in the last six months of 2012, impacted by restructuring costs. Shares in Hills Holdings plunged 12.73 per cent on Monday, ending at $0.96.
Ex-dividends today
Bki Investment Company Limited
(ASX:BKI) with a 3.3 cent fully franked dividend
Tabcorp Holdings Limited
(ASX:TAH) with an 11 cent fully franked dividend
Ex-dividends this week
ResMed Inc.
(ASX:RMD) with a 1.7 cent unfranked dividend
GUD Holdings Limited
(ASX:GUD) with a 36 cent fully franked dividend
Milton Corporation Limited
(ASX:MLT) with a 39 cent fully franked dividend
JB Hi-Fi Limited
(ASX:JBH) with a 50 cent fully franked dividend
Commodities
Gold is down $17.80 to $US1,649 an ounce for the April contract on Comex.
Silver is down $0.53 to $30.91 for March.
Copper is down $0.03 at $3.73 a pound.
Oil is up $1.31 at US$97.03 a barrel for March light crude in New York.
