Following mixed leads and after making some solid ground yesterday the Australian share market looks set for an unsteady start.
Yesterday’s positive jobs data has led more speculation about the potential for an interest rates rise with the Aussie dollar pushing towards US$0.94.
In the US, Federal Reserve Chair, Janet Yellen, pushed an optimistic view for US growth that was backed up by a drop in unemployment benefits claims that point towards solid jobs growth.
Global markets
Wall Street closed mixed yesterday: The Dow Jones Industrial Average gained 32 points to close at 16,551, the S&P 500 lost 3 points to close at 1,876 and the NASDAQ lost 16 points to close at 4,052.
European markets closed up: London’s FTSE gained 43 points, Paris gained 61 points and Frankfurt gained 86 points.
Asian markets closed up: Tokyo’s Nikkei added 130 points, Hong Kong’s Hang Seng added 91 points, and China’s Shanghai Composite added 5 points.
The Australian share market closed higher yesterday: The S&P/ASX 200 Index closed 41 points up to finish at 5,477. On the futures market the SPI is 1 point up.
Currencies
The Australian Dollar at 7:20AM was buying $US0.9370 cents, 55.35 Pence Sterling, 95.28 Yen and 67.72 Euro cents.
Economic news
Due out today from the Reserve Bank of Australia is the Statement on Monetary Policy.
Company news
Brickworks Limited
(ASX:BKW) has launched Australia’s first carbon neutral brick, receiving certification under the National Carbon Offset Program.
The bricks are produced in Tasmania using locally sourced waste biomass energy to reduce carbon emissions by almost 100 per cent. Shares in Brickworks closed 0.45 per cent lower yesterday at $13.41
Iron ore miner Atlas Iron Limited
(ASX:AGO) has doubled the resource estimate at its Corunna Downs ore project.
The upgrade to 51 million tonnes keeps the project on track to meet its exploration target of 100Mt -150Mt by June 2015. Shares in Atlas Iron jumped 1.81 per cent on the news, to close at $0.845 yesterday.
Ex-dividends
ANZ Banking Group
(ASX:ANZ) 83 cent fully franked.
Tamawood Limited
(ASX:TWD) 8 cent fully franked.
Commodities
Gold is down $1.20 to $US1,288 an ounce for the June contract on Comex. Silver is down $0.20 to $19.14 for May. Copper is up $0.03 at $3.06 a pound. Oil is down $0.51 at US$100.26 a barrel for June light crude in New York.
