The Australian share market is set for a soft start to the session after Wall Street’s lacklustre close. Optimism over a possible ceasefire between Ukraine and Russia was offset by Apple Inc.'s (NASDAQ:AAPL) stock dropping following this weeks celebrity hacking scandal. Across commodity markets the price of iron ore has slumped to five-year lows while gold and silver prices have firmed. Local investors will today receive a series of Australian Bureau of Statistics (ABS) reports ahead of a European Central Bank meeting tonight.
Global markets
Wall Street closed mixed on Wednesday: The Dow Jones Industrial Average added 0.06 per cent to close at 17,078, the S&P 500 slipped 0.08 per cent to close at 2,001 and the Nasdaq fell 0.6 per cent to close at 4,573.
European markets gained ground on Wednesday: London's FTSE 100 rose 0.7 per cent, France's CAC 40 advanced 1 per cent and Germany's DAX jumped 1.3 per cent.
Asian markets moved higher on Wednesday: Japan’s Nikkei gained 0.4 per cent, Hong Kong’s Hang Seng climbed 2.3 per cent, and China’s Shanghai Composite lifted 1 per cent.
The Australian share market ended barely unchanged yesterday after the release of Australia’s second quarter growth figures: The S&P/ASX 200 index lost 2.4 points on Wednesday to close at 5,656. On the futures market the SPI is now flat.
Currencies
The Australian dollar at 7:30am was buying $US0.9342, 56.77 Pence Sterling, 97.94 Yen and 71.07 Euro cents.
Economic news due out today
Australian Bureau of Statistics: Retail trade data, international trade in goods and services data and overseas arrivals and departures data for July
Company news
Ardent Leisure Group
(ASX:AAD) has wrapped up its $32.5 million purchase of the Fitness First Western Australian portfolio. The leisure and entertainment business operator announced the acquisition in early August, in the same month it posted an annual net profit rise and spruiked growth ahead. Fitness First Western Australia includes eight health clubs in Perth which the company believes offer strong potential for membership growth. Shares in Ardent Leisure Group rose 1.59 per cent to close at $3.20 on Wednesday following the announcement.
Listed property trust Mirvac Industrial Trust
(ASX:MIX) has sold a property in America for just over $US9 million to Svigos Asset Management. The Touhy asset is located southwest of the Chicago Central Business District and had a book value of $US8.4 million. Mirvac says leasing vacant space was difficult and the asset was considered secondary within the trust’s portfolio. Shares in Mirvac Industrial Trust rose 2.94 per cent to close at $0.175 on Wednesday following the announcement.
Ex-dividends
Acrux Limited
(ASX:ACR) paying an 8 cent fully franked dividend
Greencross Limited
(ASX:GXL) paying a 7 cent fully franked dividend
Objective Corporation Limited
(ASX:OCL) paying a 3.5 cent fully franked dividend
Pulse Health Limited
(ASX:PHG) paying a 0.5 cent fully franked dividend
Phileo Australia
(ASX:PHI) paying a 2 cent fully franked dividend
Prime Media Group Limited
(ASX:PRT) paying a 2.8 cent fully franked dividend
Vita Group Limited
(ASX:VTG) paying a 2.73 cent fully franked dividend
WDS Limited
(ASX:WDS) paying a 4.5 cent fully franked dividend
Wilson HTM Investment Group Limited
(ASX:WIG) paying a 2.75 cent fully franked dividend
Commodities
Gold has gained $5.30 to $US1,270 an ounce for the December contract on Comex.
Silver has lifted $0.04 to $19.19 for December.
Copper has lost $0.03 to $3.13 a pound.
Oil has gained $2.66 to $US95.54 a barrel for October light crude in New York.
