Air New Zealand (ASX:AIZ) supports biofuels mandate: Aus shares set to open higher

Market Reports

by Katrina Bullock

The Australian share market is set to swell at the open, following positive tailwinds from the US. All 3 major US benchmarks rebounded after their worst day of trade in three months. Oil, gold and iron ore however all dropped overnight.

Local economic news

Today the Reserve Bank of Australia will release data on private sector credit for the month of December, and the Australian Bureau of Statistics will release producer prices for the December quarter.


To the figures from around the globe: Wall Street closed higher yesterday: The Dow Jones Industrial Average gained almost 1 per cent to 30,603, the S&P 500 added almost 1 per cent also to 3787 and the NASDAQ closed 0.5 per cent higher at 13337.

European markets closed mixed, London’s FTSE lost 0.6 per cent, Paris added 0.9 per cent and Frankfurt closed 0.3 per cent higher.

Asian markets closed lower, Tokyo’s Nikkei fell 1.5 per cent, Hong Kong’s Hang Seng lost 2.6 per cent and China’s Shanghai Composite closed 1.9 per cent lower.

Taking all of this into equation, the SPI futures are pointing to a 1.1 per cent gain.

Yesterday, the Australian share market closed 1.9 per cent lower at 6650.

Company news

360 Capital REIT (ASX:TOT) has settled the sale of the Tattersall Shopping Centre in Penrith. Shares in 360 Capital REIT (ASX:TOT) closed flat at $0.88 yesterday.

Air New Zealand (ASX:AIZ) has come out in support of the New Zealand Government’s decision to implement a biofuels mandate that it says will help the country reduce carbon emissions in the transport sector. Air New Zealand Chief Executive Officer Greg Foran said pursuing biofuels is a necessary step in reaching New Zealand’s net zero by 2050 goal. The airline has been part of the Sustainable Aviation Fuel Consortium for the past five years. In other news, Air New Zealand now requires the use of face masks on all international flights to and from New Zealand, including those where it is not legally mandated. Shares in Air New Zealand (ASX:AIZ) closed flat at $1.50 yesterday.


Djerriwarrh Investments (ASX:DJW) is paying 5.25 cents fully franked.
MCP Income Opportunities Trust (ASX:MOT) is paying 1.64 cents unfranked.
MCP Master Income Trust (ASX:MXT) is paying 0.72 cents unfranked.
Partners Group Global Income Fund (ASX:PGG) is paying 0.6833 cents unfranked.


One Australian Dollar at 8:20 AM was buying 76.86 US cents, 55.98 Pence Sterling, 80.11 Yen and 63.41 Euro cents.


Iron Ore has lost 5.5 per cent to US$157.42.
Iron Ore futures suggest 2.3 per cent fall.
Gold has lost $3.60 to US$1845 an ounce.
Silver was up $1.23 to US$26.62 an ounce.
Oil was down $0.59 to US$52.26 a barrel.

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