Outlook: Aus shares set for weak start

Market Reports


The Aussie share market has negative leads from both the US and Europe which suffered heavy losses ahead of the weekend.
 
Mainland Chinese stock markets will re-open later today following a four day weekend meanwhile US markets will remain closed Monday for the Labor Day holiday.
 
US stocks sank as Friday’s jobs figures heightened chances that the Federal Reserve may raise interest rates later this month. 
 

US Economic news

The Labor Department says that 173,000 were added last month, the smallest increase since March but not enough to make the case for holding off on raising interest rates later this year. 
 
Markets

Wall Street closed lower on Friday: The Dow Jones Industrial Average lost 1.7 per cent to close at 16,102, the S&P 500 shed 1.5 per cent to close at 1,921 and the NASDAQ slipped 1.1 per cent to close at 4,684
 
European markets closed lower: London’s FTSE lost 2.4 per cent, Paris was down 2.8 per cent and Frankfurt ended 2.7 per cent lower.
 
Asian markets closed down: Tokyo’s Nikkei slipped 2.2 per cent, Hong Kong’s Hang Seng lost 0.5 per cent, and China’s Shanghai Composite was closed. 
 
The Australian share market closed higher on Friday: The S&P/ASX 200 Index closed 13 points up to finish at 5,041, to be 223 points down on the week. On the futures market the SPI is 28 points down. 
 
Currencies

The Australian Dollar at 7:20AM was buying 69.23 US cents, 45.63 Pence Sterling, 82.31 Yen and 62.06 Euro cents.
 
Economic news

Due out are ANZ job advertisements for August and the AIG Construction Index. 
 
Company news
 
Shaffer Corporation Limited (ASX:SFC) has announced the property sale of 616 St Kilda Rd Melbourne has fallen through. Shaffer has a 20 per cent interest in the property but says it is happy to retain its share of the property. Shares in Shaffer Corporation last traded at $4.81. 
 
APN Outdoor Group Limited (ASX:APO) says it has agreed to acquire the development assets of Drive By Media. There are 12 locations throughout Victoria and Queensland suitable for 19 large billboards with a potential revenue pipeline of up to $7 million per annum. Shares in APN Outdoor were 0.14 per cent lower at $3.60 on Friday. 
 

Commodities

Gold has shed $3.10 to US$1121 an ounce for the December contract on Comex. Silver has slipped 16 cents to $14.55 for December. Copper is down 7 cents to $2.31 a pound. Oil has dipped $0.70 to $46.05 a barrel for October light crude in New York.

Name Code Date Amount(cents) Franking
Aust Careers Network ACO 7/09/15 13.00 100
Amcor Limited AMC 7/09/15 28.56 0
Cellnet Group CLT 7/09/15 1.00 100
CSL Limited CSL 7/09/15 89.99 0
Contango Microcap CTN 7/09/15 3.70 50
Hansen Technologies HSN 7/09/15 3.00 83.33
Insurance Australia IAG 7/09/15 16.00 100
Pro-Pac Packaging PPG 7/09/15 1.50 100
Qube Holdings Ltd QUB 7/09/15 2.80 100
Sedgman Limited SDM 7/09/15 3.80 100
Sedgman Limited SDM 7/09/15 2.20 100
Servcorp Limited SRV 7/09/15 11.00 40
Zimplats Holding Ltd ZIM 7/09/15 16.95 0
Ainsworth Game Tech. AGI 8/09/15 5.00 100
AVJennings Limited AVJ 8/09/15 3.00 100
Burson Group Ltd BAP 8/09/15 4.70 100
Colorpak Limited CKL 8/09/15 1.25 100
Cochlear Limited COH 8/09/15 100.00 100
Corp Travel Limited CTD 8/09/15 10.00 100
Cryosite Limited CTE 8/09/15 0.50 0