The SPI is pointing to a positive start, despite US markets reversing gains overnight. Weaker than expected new home sales in the US dragged markets down and a selloff in the tech sector saw the NASDAQ lose close to 1 per cent. Figures on US durable goods orders will be released tonight, after markets close before tomorrow’s ANZAC day holiday.
Global Markets
Wall Street closed lower yesterday: The Dow Jones Industrial Average lost 13 points to close at 16,502, the S&P 500 lost 4 points to close at 1,875 and the NASDAQ lost 34 points to close at 4,127. European markets closed lower: London’s FTSE lost 7 points, Paris lost 33 points and Frankfurt lost 56 points. Asian markets closed mixed: Tokyo’s Nikkei added 158 points, Hong Kong’s Hang Seng lost 221 points, and China’s Shanghai Composite lost 5 points.The Australian share market closed higher yesterday: The S&P/ASX 200 Index closed 38 points up to finish at 5,518. On the futures market the SPI is 20 points up.
Currencies
The Australian Dollar at 7:20AM was buying $US0.9290 cents, 55.37 Pence Sterling, 95.24 Yen and 67.25 Euro cents.
Company news
Media and entertainment company Twenty-First Century Fox Inc
(ASX:FOX) will be removed from the S&P/ASX 200 as shareholders in the company have voted to delist from the ASX.
21st Century Fox was established last year when News Corp (ASX:NWS) was split into two companies. S&P Dow Jones Indices has advised that it will be replaced on the S&P ASX 200 by Sundance Energy Australia Limited (ASX:SEA) after the close of trading on May 1. Share in Twenty-First Century Fox closed 1.66% up yesterday to trade at $34.26.
Triton Minerals Limited
(ASX:TON) has commenced the third phase of the drilling program at the Balama North project in Mozambique.
The diversified miner has high hopes for the Nicanda Hill graphite prospect with focus now on the southern portion of the field. Shares in Triton Minerals closed 4.76 per cent up yesterday to close at $0.11 after the announcement.
Commodities
Gold is up $3.50 to $US1,285 an ounce for the June contract on Comex.
Silver is up $0.08 to $19.44 for May.
Copper is up $0.01 at $3.06 a pound.
Oil is down $0.31 at US$101.44 a barrel for May light crude in New York.
Ex-dividends
Bank of Queensland Limited
(ASX:BOQ) at 32c fully franked.
Countplus Limited
(ASX:CUP) 3 cents fully franked.
