Once again, the Australian share market looks set to open higher today, following a positive lead from global markets. It looks like investors’ concerns about Brexit have subsided -- for now.
Wall Street finished higher on Tuesday (with 6 out of 10 sectors posting gains), but the best performing sectors were Energy and Technology.US economic news
Federal Reserve Chair, Janet Yellen, appeared before the Senate to give her monetary policy testimony on Tuesday. Ms Yellen warned about ‘considerable uncertainty’ regarding the US economic outlook. She also spoke of risks including a slowdown in job growth, and the upcoming British referendum potentially causing ‘significant economic repercussions’. Ms Yellen will be back before the Senate later today to continue her testimony.Markets
Wall Street closed higher on Tuesday: The Dow Jones Industrial Average gained 0.1 per cent to close at 17,830, the S&P 500 gained 0.3 per cent to close at 2,089 and the NASDAQ gained 0.1 per cent to close at 4,844.
European markets closed higher: London’s FTSE gained 0.4 per cent, Paris rose 0.6 per cent and Frankfurt lifted 0.5 per cent.
Asian markets closed mixed: Tokyo’s Nikkei added 1.3 per cent, Hong Kong’s Hang Seng was up 0.8 per cent, and China’s Shanghai Composite lost 0.4 per cent.
The Australian share market closed higher yesterday: The S&P/ASX 200 Index closed 18 points up to finish at 5,274. On the futures market the SPI is up 15 points.Currencies
The Australian Dollar at 7:30AM was buying $US74.56 cents, 50.9 Pence Sterling, 78.11 Yen and 66.31 Euro cents.Company news
Cabcharge Australia Limited (ASX:CAB)
has sold its Sydney headquarters in Darlinghurst for $18 million. As part of the sale, Cabcharge will lease back the property from the purchaser for at least 2 years from the end of July (which is when the deal is completed).
Shares in Cabcharge closed 0.3% lower at $3.30.
Capral Limited (ASX:CAA)
has announced it has revised its earnings guidance upwards. The company previously said it was expecting full year EBITDA between $13 and $15 million. Now the company is expecting it to be between $19 and $21 million.
Shares in Capral Limited closed 39.13% higher at $0.16.Commodities
Gold has dropped $21.40 to $US1,271 an ounce for the August contract on Comex.
Silver has lost $0.21 to $17.30 for July.
Copper is up 3 cents to $2.13 cents a pound for July.
Oil is up $0.39 to $US50.20 a barrel for July light crude in New York.