Outlook: Aus shares set to open lower

Market Reports

Following negative leads, the Australian share market looks set to open lower today.  Wall Street fell yesterday, despite a strong rally in US shares on Monday.  This was due to the weak performance of shares in the consumer and health care sectors.
 
US economic news

The Bureau of Labor Statistics released data yesterday which showed that the cost of living rose by 0.4% in April.  This represents the largest gain in the consumer price index over the last 3 years.
 
Markets

Wall Street closed lower yesterday: The Dow Jones Industrial Average fell by 1.02 per cent to close at 17,530, the S&P 500 lost nearly 0.9 per cent to close at 2,047 and the NASDAQ lost 1.3 per cent to close at 4,716.
 
European markets closed mixed: London’s FTSE gained 0.3 per cent, Paris lost 0.3 per cent and Frankfurt was down 0.6%.
 
Asian markets closed mixed: Tokyo’s Nikkei added 1.1 per cent, Hong Kong’s Hang Seng gained 1.2 per cent, and China’s Shanghai Composite lost 0.3 per cent.
 
The Australian share market closed higher yesterday: The S&P/ASX 200 Index closed 37 points up to finish at 5,396. On the futures market the SPI is 29 points down. 

Currencies
 
The Australian Dollar at 7:30AM was buying $US0.7328 cents, 50.70 Pence Sterling, 79.99 Yen and 64.80 Euro cents.
 
Company news
 
Silex Systems Limited (ASX:SLX), has announced that UK company, IQE Plc, has transferred the semiconductor technology of Silex’s subsidiary, Translucent, to its North Carolina production facility under an exclusive licence.  Upon commercialization of the technology, IQE will need to pay Translucent a perpetual royalty of between 3% and 6%.
 
Shares in Silex closed 1.41 per cent up yesterday at $0.36. 
 
Ainsworth Game Technology Limited (ASX: AGI) is currently the subject of an application to the Takeovers Panel by Fortress Centaurus Global Master Fund Ltd.  This matter relates to a share sale and purchase agreement by Leonard Ainsworth, the executive chairman and alleged contraventions of the Corporations Act.
 
Fortress is seeking an interim order that an upcoming shareholders’ meeting be adjourned until this application is determined.
 
Shares in Ainsworth closed 0.4% per cent up yesterday at $2.50. 

Commodities

Gold has gained $2.70 to $US1,277 an ounce for the June contract on Comex.
Silver has gained $0.10 to $17.25 for July.
Copper is steady at $2.09 a pound.
Oil has gained $0.46 to $US48.99 a barrel for June light crude in New York.

Ex-dividends

Company Dividend amount Franked
Amyf One Ltd 57 100
Amyf Two Ltd 71 100
Amyf Three Ltd 49 100
Amyf Four Ltd 59 100
Amyf Five Ltd 49 100
Cbg Capital Limited 1.6 100
ResMed Inc. 2.7237 0