Outlook: Aus shares set to open lower

Market Reports

Following soft leads from Wall Street, the Australian share market looks set to open lower in this final rollercoaster ride of the trading week. US stocks closed relatively flat following a volatile day as investors await today’s highly anticipated US non farm payrolls employment read.

US economic news
 
The ISM Manufacturing Index slipped to 50.2 in September from 51.1 in August, marking the slowest pace of expansion in more than two years. Meanwhile US jobless claims saw a lift as the Labor Department reported claims of 277,000 in the weekly read.
 
Markets

Wall Street closed mixed yesterday: The Dow Jones Industrial Average lost 0.1 per cent to close at 16,272, the S&P 500 added 0.2 per cent to close at 1,924 and the NASDAQ gained 0.2 per cent to close at 4,627.
 
European markets closed mixed: London’s FTSE gained 0.2 per cent, Paris lost 0.7 per cent and Frankfurt lost 1.6 per cent.
 
Asian markets were mostly closed: Tokyo’s Nikkei added 1.9 per cent, Hong Kong’s Hang Seng was closed, and China’s Shanghai Composite was also closed.
 
The Australian share market closed higher yesterday: The S&P/ASX 200 Index closed 91 points up to finish at 5,112. On the futures market the SPI is 18 points down. 

Currencies
 
The Australian Dollar at 7:20AM was buying $US0.7033 cents, 46.5 Pence Sterling, 84.33 Yen and 62.88 Euro cents.
 
Economic news

The Australian Bureau of Statistics will provide a snapshot of consumer spending with Retail Sales data for August. Market analysts are expecting a 0.4 percent increase in spending. 
 
Company news
 
GDI Property Group Limited (ASX:GDI) has announced the buyer of 233 Castlereagh Street in Sydney has paid and released a further 15 percent of the total purchase price. The payment follows an extension of settlement announced on 30 September and brings the total amount paid and released to GDI Property Group to $54.6 million of the purchase price of $156 million. GDI Property Group has said it intends to permanently reduce Tranche A of its current debt facility by $30 million prior to the final settlement. Shares in GDI Property Group closed 1.64 per cent lower yesterday at $0.90.
 
Centuria Capital Limited’s (ASX:CNI) property funds management entity, Centuria Property Funds Limited continues to grow its core business units with the purchase of 203 Pacific Highway in St Leonards for $86.06 million. Centuria Metropolitan REIT will acquire a 50 percent interest in the office building and the remaining 50 percent interest will be acquired by a newly created Centuria retail unlisted trust. Shares in Centuria Capital Limited closed flat yesterday at $0.84.  
 
Commodities and the dollar

Gold has lost $1.50 to $US1,114 an ounce for the December contract on Comex.
Silver has lost $0.02 to $14.49 for December. Copper has lost $0.04 to $2.31 a pound.
Oil has lost $0.35 to $US44.74 a barrel for November light crude in New York.

Ex-dividends

Cyclopharm Limited CYC 2/10/15 0.5 100
M2 Grp Ltd MTU 2/10/15 17.0 100
Nick Scali Limited NCK 2/10/15 8.0 100
1300 Smiles Limited ONT 2/10/15 10.2 100
OrotonGroup Limited ORL 2/10/15 2.0 100
Recall Holdings Ltd REC 2/10/15 10.0 40
Sims Metal Mgmt Ltd SGM 2/10/15 13.0 100
Skilled Group Ltd SKE 2/10/15 25.0 100
Webster Ltd WBA 2/10/15 1.0 100