Outlook: Aus shares set for flat start

The Australian share market looks set for a soft start to the trading day, after disappointing jobs data from the US on Friday.
 
US economic news
 
The Labor Department reported on Fridaythat hiring slowed in March, with a disappointing 88-thousand jobs added – the lowest monthly gain since June last year.
  
Figures

Wall Street closed down on Friday: The Dow Jones Industrial Average lost 41 points to close at 14,565, the S&P500 lost 7 points to close at 1,553 and the Nasdaq lost 21 points to close at 3,204. 

European markets closed down: London’s FTSE lost 94 points, Paris lost 63 points and Frankfurt lost 159 points.
 
Asian markets were mixed: Tokyo’s Nikkei added 199 points on Thursday, while Hong Kong’s Hang Seng and China’s Shanghai Composite closed for a public holiday and are expected to re-open today.
 
The Australian share market closed lower on Friday: The S&P/ASX 200 Index closed 22 points down to finish at 4,891 and on the week, it lost 75 points. On the futures market the SPI is 5 points down. 

Currencies 

The Australian Dollar at 7.30AM was buying $US1.037 cents, 67.65 Pence Sterling, 101.92 Yen and 79.84 Euro cents.
 
Economic news

Due out today from the ANZ are its job advertisements for March.

Australian Industry Group and Housing Industry Association's Performance of Construction Index is due.
 
Company news

Atlas Iron Limited(ASX:AGO) has announced the completion of the first phase of a study evaluating a new railway connecting iron ore mines in the East Pilbara to Port Hedland. The iron ore miner formed an alliance to conduct the study with Aurizon Operations Limited (ASX: AZJ) and Brockman Mining (ASX:BCK).  Shares in Atlas Iron (ASX: AGO) closed 0.99 per cent down on Friday at $1.005.

Sundance Resources Limited (ASX:SDL) says it is concluding and documenting outcomes of its good faith consultations with Chinese suitor Hanlong Mining.  Under a Scheme Implementation Agreement between the two parties, Hanlong proposed to acquire all the issued share capital of the company. The Africa-focused iron ore miner says documents will be drafted, signed and translated into Chinese today.
Shares in Sundance Resources (ASX:SDL) closed 6.67 per cent down on Friday at $0.21.

Commodities

Gold is up $23.50 to $US1,576 an ounce for the June contract on Comex. Silver is up $0.45 to $27.22 for May. Copper is down $0.01 at $3.35 a pound. Oil is down $4.28 at US$92.70 a barrel for May light crude in New York.
 
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