The Australian share market is headed for solid gains today after better-than-expected US jobs figures saw the Dow and S&P rally to fresh highs.
US economic news
The US economy added 165,000 jobs in April. That was more than the 140,000 jobs economists predicted, and an improvement on March figures.
Figures
The Dow Jones Industrial Average gained 142 points to close at 14,974, the S&P500 added 17 points to close at 1,614 and the Nasdaq gained 38 points to close at 3,379.
European markets were also up: London’s FTSE gained 61 points, Paris added 54 points and Frankfurt closed 161 points higher.
Asian markets were mixed: Hong Kong’s Hang Seng added 22 points, Tokyo’s Nikkei lost 105 and China’s Shanghai Composite added 32 points.
The Australian share market ended Friday’s session flat. The S&P/ASX 200 index lost 0.5 point, narrowing the weekly gain of 32 points to end at 5,130.
On the futures market the SPI is 56 points higher.
Currencies
The Australian Dollar at 7:20AM was buying $US1.031 cents, 66.25 Pence Sterling, 102.25 Yen and 78.59 Euro cents.
Economic news
The Australian Bureau of Statistics will today release its retail trade figures for March and ANZ will release its job advertisements data for April.
Company news
Qantas Airways Limited
(ASX:QAN) chief executive Alan Joyce has confirmed the airline has discussed the possible sale of its Terminal 3 in Sydney Airport, according to media reports. But Mr Joyce told media that any deal would be very complex and the transaction would involve Qantas ensuring it had an economic and viable operation. Shares in Qantas closed down 4.05 per cent on Friday at $1.775.
Alumina Limited
(ASX:AWC) shareholders have voted against the company’s executives pay packet. Investors focused on chief executive officer John Bevan's $2.2 million salary package including a cash bonus at the company’s AGM on Friday. About 50 per cent of shareholders voted against the remuneration report and can spill the board next year if more than 25 per cent vote against it again under the two strikes rule. Shares in Alumina closed 1.1 per cent higher on Friday at $0.915.
Ex-dividend
Australian Pharmaceutical Industries Limited
(ASX:API) will pay 1.5 cents fully franked
Henderson Group plc
(ASX:HGG) will pay 7.68 cents unfranked
Waterco Limited
(ASX:WAT) will pay 3 cents fully franked
Commodities
Gold is down $3.40 to $US1,464 an ounce for the June contract on Comex. Silver is up $0.18 to $24.01 for July. Copper is up $0.20 at $3.31 a pound. Oil is up $1.62 at US$95.61 a barrel for June light crude in New York.
