The Australian share market looks set for a positive open, following a solid lead from Wall St thanks to a strong start to earnings season.
Figures
Wall Street closed higher: The Dow Jones Industrial Average gained 48 points to close at 14,614, the S&P 500 added 10 points to close at 1,563 and the NASDAQ up by 18 points to close at 3,222.
European markets closed up: London’s FTSE added 27 points, Paris 3 points higher and Frankfurt up by 4 points.
Asian markets closed mixed: Hong Kong’s Hang Seng lost 9 points, Tokyo’s Nikkei added 359 and China’s Shanghai Composite lost 14 points.
The Australian share market closed higher yesterday: The S&P/ASX 200 Index closed 14 points up to finish at 4,906. On the futures market the SPI is pointing 18 points higher.
Currencies
Turning to currencies and the Australian Dollar at 7:20AM was buying $US1.04 cents, 68.24 Pence Sterling, 103.47 Yen and 79.99 Euro cents.
Economic news
NAB will today release its monthly business survey for March
Company news
Sundance Resources Limited
(ASX:SDL) has ended its $1.3 billion takeover deal with China’s Hanlong Mining, but remains in talks with other parties about developing its proposed West Africa iron ore project. The deal was terminated after Hanlong was unable to meet last week’s financial deadline for the takeover, almost two years after launching its offer. Shares in Sundance Resources last traded at $0.21.
Orica Limited
(ASX:ORI) says former oil and gas head Russell Caplan has been elected to company chairman to take over from Peter Duncan next year. Mr Caplan was previously chairman of Shell Australia and director of Woodside Petroleum. Shares in Orica closed down 0.13 per cent at $23.12.
Ex-dividends Clime Capital Limited
(ASX:CAM) will pay 1 cent fully franked and New Hope Corporation Limited
(ASX:NHC) will pay 6 cents fully franked.
Commodities
Gold is down $3.40 to $US1,572.50 an ounce for the June contract on Comex. Silver is down $0.08 to $27.14 for May. Copper is up $0.03 at $3.37 a pound. Oil is up $0.66 at $US93.36 a barrel for May light crude in New York.
