The Australian share market is set to continue moving lower after global markets fell amid protests in Hong Kong. The civil unrest has seen pro-democracy demonstrators block streets in central Hong Kong and face off against police.
Hong Kong’s benchmark plunged almost 2 per cent by close while European and US markets also started the week in the red. US traders also absorbed a rise in consumer spending and slower pending home sales last month while inflation stayed tame.
Across commodity markets the price of iron ore has continued to decline 1.2 per cent to $US77.70 per tonne.
Global markets
Wall Street dipped into the new week: The Dow Jones Industrial Average lost 0.3 per cent to close at 17,071, the S&P 500 lost 0.3 per cent to close at 1,978 and the Nasdaq lost 0.1 per cent to close at 4,506.
European markets started the week lower: London's FTSE 100 eased 0.04 per cent, France's CAC 40 declined 0.8 per cent and Germany's DAX dropped 0.7 per cent.
Asian markets ended mixed on Monday: Japan’s Nikkei lifted 0.5 per cent, Hong Kong’s Hang Seng retreated 1.9 per cent, and China’s Shanghai Composite rose 0.4 per cent.
The Australian share market sank 0.9 per cent into the new week: The S&P/ASX 200 index dropped 49 points to close at 5,264 on Monday. On the futures market the SPI is 12 points lower.
Currencies
The Australian dollar at 7:20am was buying $US0.8719, 53.7 Pence Sterling, 95.45 Yen and 68.74 Euro cents.
Economic news due out today
Reserve Bank of Australia: Financial aggregates data for August
ANZ Banking Group
(ASX:ANZ)-Roy Morgan: Weekly consumer confidence survey
Company news
Shares in Bionomics Limited
(ASX:BNO) rose after revealing new data from the DisrupTOR-1 trial of BNC105 in patients with metastatic renal cancer. The company says the data emphasizes the plasma biomarker profile associated with favourable outcomes for patients treated with BNC105. Bionomics has also advised more data collection and analysis is continuing and will be reported as it becomes available. Shares in Bionomics rose 6.03 per cent to close at 0.615 on Monday following the announcement.
Uranium developer Toro Energy Limited
(ASX:TOE) has entered into a farm in and joint venture with the Australian arm of French energy company, Areva. The agreement is over Toro’s under-explored Wiso Basin exploration ground in the Northern Territory. Managing Director Dr Vanessa Guthrie says the company looks forward to adding value to its exploration targets in the territory through a long and beneficial relationship with one of the world's most respected uranium groups. Shares in Toro Energy closed steady at $0.091 on Monday following the announcement.
Ex-dividends
Altium Limited
(ASX:ALU) paying an 8 cent unfranked dividend
Austbrokers Holdings Limited
(ASX:AUB) paying a 26.5 cent fully franked dividend
Virtus Health Limited
(ASX:VRT) paying a 14 cent fully franked dividend
Webjet Limited
(ASX:WEB) paying a 7.25 cent fully franked dividend
Commodities
Gold has risen $3.40 to $US1,219 an ounce for the December contract on Comex.
Silver has firmed $0.03 to $17.57 for December.
Copper has lifted $0.02 to $3.06 a pound.
Oil has gained $1.03 to $US94.57 a barrel for November light crude in New York.
