Wall Street edged higher for a ninth straight session. Sentiment was helped by news that February retail sales rose, a better than expected, 1.1 per cent - the strongest result since September.
Figures The Dow Jones Industrial Average added 5 points to close at 14,455. The S&P500 put on 2 points to close at 1,555 and the Nasdaq gained 3 points to close at 3,245.
European markets closed mixed. London’s FTSE lost 29 points, Paris lost 4 points and Frankfurt gained 5 points.
Asian markets closed lower
. Hong Kong’s Hang Seng shed 334 points, Tokyo’s Nikkei fell 75 and China’s Shanghai Composite dropped 23 points.
The Australian share market finished 0.5 per cent weaker, weighed down by the financial sector.The S&P/ASX 200 index closed 26 points down to finish at 5,092. The SPI currently down 3.
Currencies The Australian Dollar at 7:30 AM was buying $US1.029 cents, 69.02 Pence Sterling, 98.98 Yen and 79.48 Euro cents.
Economic newsFebruary Labor force figures will be released today from
the Australian Bureau of Statistics. Despite improving business and consumer confidence, a rise in unemployment is expected.
Company newsInvestors will be watching Apex minerals
(ASX:AXM) closely today, after the miner announced it had struck a deal to sell-off its struggling Wiluna gold mine in West Australian. Apex shares rallied on the news, that Chinese interests had purchased the 50 square kilometer site, North West of Perth. The price tag of $50 million dollars, sits well below the miners $15 million market capitalization.
Shares in Apex minerals
(ASX:AXM) soared 16.67% to close at 5 cents.
The threat of online retailers to traditional bricks and mortar stores is picking up pace. Department stores Myer and David Jones
(ASX:DJS) are reportedly locked in discussions with their shopping mall landlords. Both companies are understood to be pushing for better commercial lease deals, to stave off store closures. Shares in David Jones ended 0.67% weaker at $2.97
Ex-dividends today Commodities Gold is down $3.30 to $US1,588 an ounce for the April contract on Comex.
Silver is down $0.21 to $28.96 for May.
Copper is down $0.03 at $3.53 a pound.
Oil is down $0.2 at US$92.52 a barrel for April light crude in New York.
