Mixed leads look to have positioned the Australian share market for another weak open. Global markets absorbed China’s record trade surplus, a downwardly revised print on Japanese growth and better than expected US consumer credit data. Traders also considered Scotland’s upcoming referendum and the implications should the country choose independence from the United Kingdom. Across commodity markets the price of gold has hit a new three-month low and iron ore continues to remain at five-year lows.
Global markets
Wall Street started the week mixed: The Dow Jones Industrial Average dipped 0.2 per cent to close at 17,111, the S&P 500 fell 0.3 per cent to close at 2,002 and the Nasdaq firmed 0.2 per cent to close at 4,592.
European markets closed mixed on Monday: London's FTSE 100 declined 0.3 per cent, France's CAC 40 lost 0.2 per cent and Germany's DAX added 0.1 per cent.
Asian markets put in a mixed performance on Monday: Japan’s Nikkei lifted 0.2 per cent, Hong Kong’s Hang Seng lost 0.2 per cent, and China’s Shanghai Composite gained 0.9 per cent.
The Australian share market fell to a three-week low on Monday with a number of blue-chip companies trading ex-dividend and following weak US jobs data: The S&P/ASX 200 index started the week 22 points lower at 5,577. On the futures market the SPI is 2 points lower.
Currencies
The Australian dollar at 7:30am was buying $US0.9279, 57.66 Pence Sterling, 98.42 Yen and 71.98 Euro cents.
Economic news due out today
Australian Bureau of Statistics: Housing finance figures for July
National Australia Bank Limited
(ASX:NAB): Business survey for August
ANZ Banking Group
(ASX:ANZ)-Roy Morgan: Weekly consumer confidence survey
Company news
Australia’s largest listed investment bank Macquarie Group Limited
(ASX:MQG) has upped its stake in wealth management and financial services company Yellow Brick Road Holdings Limited
(ASX:YBR). Macquarie Group has almost doubled its stake in Yellow Brick Road to 18.35 per cent. The news comes after both companies announced a tie up at the end of 2012 to join forces and take on the Big Four banks in the mortgage market. Shares in both companies slipped yesterday, with Macquarie Group declining 0.81 per cent to close at $57.28.
Qantas Airways Limited
(ASX:QAN) will now allow its regional flyers to use personal electronic devices inflight. Australia’s biggest airline says QantasLink has become the first major regional airline in Australia to allow customers to use their personal electronic devices, such as smart phones, tablets and music players in flight mode, for the duration of the flight. The development comes after the Civil Aviation Safety Authority changed its guidance last month, enabling travellers to keep personal electronic devices in flight mode during flights. Shares in Qantas Airways ended Monday’s session steady at $1.54.
Commodities
Gold has dropped $13.00 to $US1,254 an ounce for the December contract on Comex.
Silver has fallen $0.20 to $18.96 for December.
Copper has dipped $0.001 to $3.17 a pound.
Oil has slipped $0.63 to $US92.66 a barrel for October light crude in New York.
Ex-dividends today
Colorpak Limited
(ASX:CKL) paying a 1.75 cent fully franked dividend
ERM Power Limited
(ASX:EPW) paying a 6 cent fully franked dividend
Hunter Hall International Limited
(ASX:HHL) paying a 6.4 cent, 98.44 franked dividend
Logicamms Limited
(ASX:LCM) paying a 3.5 cent fully franked dividend
Oil Search Limited
(ASX:OSH) paying a 2 cent unfranked dividend
OZ Minerals Limited
(ASX:OZL) paying a 10 cent unfranked dividend
Pro-Pac Packaging Limited
(ASX:PPG) paying a 1 cent fully franked dividend
Perpetual Limited
(ASX:PPT) paying a 95 cent fully franked dividend
RCR Tomlinson Limited
(ASX:RCR) paying a 7 cent fully franked dividend
SDI Limited
(ASX:SDI) paying a 0.5 cent fully franked dividend
Village Roadshow Limited
(ASX:VRL) paying a 14 cent fully franked dividend
