The Australian share market looks set for another day of losses, after worrying jobs data weighed heavily on Wall Street.
Figures
Wall Street closed weaker across the board. The Dow Jones Industrial Average lost 47 points to close at 13,881, the S&P500 lost 10 points to close at 1,503 and the Nasdaq lost 33 points to close at 3,132.
European markets closed weaker. London’s FTSE lost 104 points, Paris lost 85 points and Frankfurt lost 145 points.
Asian markets also lost ground. Hong Kong’s Hang Seng tumbled 401 points, Tokyo’s Nikkei shed 159 and China’s Shanghai Composite dropped 71 points.
The Australian share market spent yesterday’s session in negative territory. All market sectors finished in the red. The S&P/ASX 200 Index closed 119 points weaker at 4,980. On the futures market the SPI is 6 points down.
Currencies
The Australian Dollar at 8.15 AM is buying $US1.024 cents, 67.18 Pence Sterling, 95.38 Yen and 77.7 Euro cents.
Company news
Media group Fairfax Limited ( ASX:FXJ) will continue cutting costs, in an effort to arrest falling earnings. The publisher’s first half profit dropped 39 per cent to $83 million. Fairfax will pay an interim dividend of exactly one cent, fully franked, half of what it paid out to investors in the previous year. Fairfax shares dropped 2.75 per cent to 53 cents.
Industrial property developer Goodman Group
(ASX:GMG) is expected to increase global works in progress valued at $2.6 billion by the end of the 2014 financial year. For the half year to December 31, the group reported an operating profit of $266 million, marking a 16 per cent lift on the previous year. Shares in Goodman Group closed 1.1 per cent firmer at $4.60.
Ex-dividends
Five companies are going ex-dividend today.
Namely Coca-Cola Amatil Ltd
(ASX:CCL) 30 cents fully franked
Energy Action Ltd
(ASX:EAX) 3.5 cents, fully franked
Fleetwood Corporation Limited
(ASX:FWD) 30 cents fully franked
Pacific Brands Limited
(ASX:PBG) 2.5 cents fully franked
Roc Oil Company Limited
(ASX:ROC) 2 cents fully franked
Commodities
Gold is up 60c to $US1,579 an ounce for the April contract on Comex
Silver is up 8c to $28.70 for March
Copper is down 6c at $3.55 a pound
Oil is down $2.38 at US$92.84 a barrel for April light crude in New York.
