The Australian share market is set for a boost at the open after global markets gathered momentum on better than expected US jobs data and further support for the eurozone from the ECB.
US economic news
First-time claims for unemployment benefits fell to 324,000, their lowest level in five years. The report showed claims had declined by 18,000 from the week before.
Figures
The Dow Jones Industrial Average added 131 points to close at 14,832, the S&P 500 gained 15 points to close at 1,598 and the NASDAQ was 42 points higher to close at 3,341.
European markets were also buoyed: London’s FTSE added 9 points, Paris gained 2 points and Frankfurt closed 48 points higher.
But Asian markets were all in the red: Hong Kong’s Hang Seng lost 69 points, Tokyo’s Nikkei shed 105 and China’s Shanghai Composite lost 4 points.
The Australian share market sank yesterday, dropping 0.7 per cent amid concerns for the health of the global economy. The S&P/ASX 200 index dropped 36 points to close at 5,130.
On the futures market the SPI is 28 points higher.
Currencies
The Australian Dollar at 7:20AM was buying $US1.025 cents, 66.02 Pence Sterling, 100.42 Yen and 78.51 Euro cents.
Economic news
Due out today from the Australian Bureau of Statistics is will release its producer price indexes for the March quarter and the Australian Industry Group and Commonwealth Bank will release the Performance of Services Index for April.
Company news
Ardent Leisure’s Group
(ASX:AAD) revenue has jumped 13.2 per cent in the first nine months of fiscal 2013, with hopes that new attractions at Dreamworld will build market share. The theme park and health club operator says revenue for the nine months came in almost $337 million, compared to $297 million in the previous corresponding period. The company says the result was due to the strong performance of its entertainment and health club divisions as well as Ardent’s push to diversify revenue streams. Shares in Ardent closed up 0.63 per cent yesterday at $1.60.
DEXUS Property Group
(ASX:DXS) has reaffirmed its full year earnings guidance as it successfully exits the US industrial market. The real estate group says its balance sheet remains strong and since it revised its strategy in August 2012, has been involved in $2.4 billion of property transactions. Chief executive Darren Steinberg says the group has made good progress in exiting the US industrial property sector and achieved solid leasing results in a challenging market. Shares in Dexus closed 2.62 per cent higher at $1.175.
Ex-dividend
GPT Group
(ASX:GPT) will pay 5.1 cents per share unfranked.
Commodities
Gold is up $21.40 to $US1,468 an ounce for the June contract on Comex. Silver is up $0.49 to $23.83 for July. Copper is up $0.03 at $3.10 a pound. Oil is up $2.96 at $US93.99 a barrel for June light crude in New York.
