Following positive leads from Wall Street, the Australian share market looks set to open higher this morning. Wall Street gained on Thursday on the back of higher oil prices, which seemed to allay fears that the banks could be hit by debt defaults. We also saw investors step in and pick up some bargains after a roller-coaster few weeks on US markets.
US economic news
According to latest figures from the Commerce Department, new orders for durable US goods have experienced their highest increase in 10 months, jumping 4.9 per cent. This is compared to a decline of 4.6 per cent in December. The read beat economists’ expectations; those polled by Reuters expected only a 2.5 per cent increase.
Wall Street closed higher yesterday: The Dow Jones Industrial Average gained 1.3 per cent to close at 16,697, the S&P 500 added 1.1 per cent to close at 1,952 and the NASDAQ added 0.9 per cent to close at 4,582.
European markets closed up: London’s FTSE gained 2.5 per cent, Paris added 2.2 per cent and Frankfurt gained 1.8 per cent.
Asian markets closed mixed: Tokyo’s Nikkei added 1.4 per cent, Hong Kong’s Hang Seng lost 1.6 per cent, and China’s Shanghai Composite lost 6.4 per cent.
The Australian share market closed higher yesterday: The S&P/ASX 200 Index closed 6 points higher to finish at 4,881. On the futures market the SPI is up 32 points.
The Australian Dollar at 8:30AM was buying $US0.7236 cents, 51.83 Pence Sterling, 81.68 Yen and 65.63 Euro cents.
Orion Health Limited (ASX:OHE)
has signed an agreement with the Cognizant Group, enabling Cognizant to deploy Orion Health’s open data platform Amadeus. In addition, Cognizant will be a preffered systems integration partner of Orion Health in the US. Currently Orion Health’s software manages over 90 million patient health records worldwide.
Shares in Orion Health last traded at $2.69.
Inabox Group Limited (ASX:IAB)
has announced a 144 per cent increase in EBITDA to $2.6 million for the half year to 31 December 2015. The company says its pleased with the progress of all business units and the board has reaffirmed its pervious announced EBITDA guidance for FY16 of over $5 million. Shares in Inabox last traded at $1.14.
Gold has lost $3.50 to $1,236 an ounce for the April contract on Comex.
Silver has lost $0.14 to $15.19 for March.
Copper has lost $0.02 to $2.08 a pound.
Oil has gained $0.81 to $US32.96 a barrel for March light crude in New York.