Outlook: Aus shares set to open flat

Market Reports

Despite strong leads from Wall Street, the Australian sharemarket looks set to open flat following mixed economic data from the Eurozone and China. 
 
US stocks paused following weaker than expected manufacturing numbers. the US manufacturing sector slipped to 48.6 in November from 50.1 the prior month. Data released by the Institute for Supply Management highlighted the manufacturing sector contracted for the first time since late 2012.

Markets
 
Wall Street closed up yesterday: The Dow Jones Industrial Average gained 0.95 per cent to close at 17,888, the S&P 500 added 1.1 per cent to close at 2,103 and the NASDAQ gained 0.9 per cent to close at 5,156.
 
European markets closed mixed: London’s FTSE gained 0.6 per cent, Paris lost 0.9 per cent and Frankfurt lost 1.1 per cent.
 
Asian markets closed up: Tokyo’s Nikkei added 1.3 per cent, Hong Kong’s Hang Seng added 1.75 per cent, and China’s Shanghai Composite gained 0.3 per cent.
 
The Australian share market closed higher yesterday: The S&P/ASX 200 Index closed 100 points up to finish at 5,266. On the futures market the SPI is 3 points up. 

Currencies
 
The Australian Dollar at 8:20AM was buying $US0.7327 cents, 48.61 Pence Sterling, 90.05 Yen and 68.97 Euro cents.

Economic news
 
Reserve Bank Governor Glenn Stevens is set to speak at an AICC breakfast event in Perth this morning. Following yesterday’s big freeze on interest rates, the Australian Bureau of Statistics will release GDP numbers for the September quarter. Market consensus is forecasting growth of 0.7 percent.  
 
Company news
 
Dacian Gold Limited (ASX:DCN) has completed the retail component of its entitlement offer. Under the offer, Dacian received applications from eligible retail shareholders for approximately $2.7 million of new shares, representing a take-up rate of approximately 40 percent. The remaining new shares will be allocated to the underwriter and various institutional investors who acted as sub-underwriters for the retail entitlement offer. Shares in Dacian Gold closed 1.25 per cent lower yesterday at $0.79. 
 
Prime Media Group Limited (ASX:PRT) has instructed the ANZ Banking Group to permanently reduce the debt facility limit from $175 million to $120 million. Prime’s Chief Executive Officer Ian Audsley said the arrangement was in keeping with Prime’s practice in recent years of paying down debt. The company continues to have headroom of up to $40 million after this reduction of the facility limit.  Shares in Prime Media Group closed 0.94 per cent lower yesterday at $0.52. 

Ex-dividends

Name Code Date Amount(cents) Franking
BT Investment Mngmnt BTT 2/12/15 20.0 40
HGL Limited HNG 2/12/15 1.5 100
Ozforex Group Ltd OFX 2/12/15 3.6 100
 
Commodities
 
Gold has gained $3.40 to $US1,069 an ounce for the February contract on Comex.
Silver has gained $0.07 to $14.16 for March.
Copper has gained $0.03 to $2.07 a pound.
Oil has gained $0.17 to $US41.82 a barrel for January light crude in New York.

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