Following mixed leads, the SPI is pointing towards a soft but positive start for the Australian share market.
Gains were small on Wall Street overnight as tensions in Iraq and Syria continue to drag on sentiment.
The Australian dollar slid even further in overnight trade, the Aussie dropped below the US$0.91 mark before recovering slightly.
Wall Street closed mixed yesterday: The Dow Jones Industrial Average lost 0.1 per cent to close at 17,049, the S&P 500 added just below 0.1 per cent to close at 1,997 and the NASDAQ added 0.1 per cent to close at 4,592.
European markets closed lower : London’s FTSE lost 0.5 per cent, Paris lost 0.2 per cent and Frankfurt is down 0.09 per cent.
Asian markets closed mixed: Tokyo’s Nikkei added 0.8 per cent, Hong Kong’s Hang Seng lost 0.2 per cent, and China’s Shanghai Composite lost 0.3 per cent.
The Australian share market closed lower yesterday: The S&P/ASX 200 Index closed 28 points down to finish at 5,546. On the futures market the SPI is 5 points up.
The Australian Dollar at 7:20AM was buying $US0.9104 cents, 56.01 Pence Sterling, 97.46 Yen and 70.47 Euro cents.
Due out today from the Australian Bureau of Statistics is lending finance for July.
Retail Food Group Limited (ASX:RFG)
has finalized the acquisition of the Café2U mobile coffee business. The restaurant manager announced the purchase at the end of August this year and the transaction will see RFG having 241 coffee outlets through both the Cafe2U and The Coffee Guy brands. In late August the company had also announced plans to buy the La Porchetta pizza chain and RFG says due diligence continues. Shares in RFG closed 5.45 per cent lower yesterday at $4.68
Gold miner Medusa Mining Limited (ASX:MML)
has reported good results at the Tambis Gold Project in the Philippines. The company says its three drill holes in the B2 Discover area have established mineralisation over a large area. CEO Geoff Davis says the results are pleasing and the area appears to still be open in most directions. Shares in Medusa closed 5.05 per cent lower yesterday at $1.03.
Gold is down $6.30 to $US1,239 an ounce for the December contract on Comex. Silver is down $0.32 to $18.60 for December. Copper is down $0.02 at $3.09 a pound. Oil is up $1.16 at US$92.83 a barrel for October light crude in New York.
Australian Ethical Investment Limited (ASX:AEF)
120 cents fully franked
Cash Converters International Limited (ASX:CCV)
2 cents fully franked
Calliden Group Limited (ASX:CIX)
1 cent fully franked
Data#3 Limited (ASX:DTL)
3 cents fully franked
GR Engineering Services Limited (ASX:GNG)
4 cents fully franked
Independence Group NL (ASX:IGO)
5 cents fully franked