US and UK Mkts closed, Renault bolsters Euro Mkts: Aus shares set for flat start

Market Reports

by Anna Napoli

The Australian sharemarket looks set for a modest open this morning after both the US and UK markets were closed yesterday due to public holidays. Europe's other markets finished higher on Monday with investors in Europe largely focused on the results of the EU elections. Car maker Renault was one of the stand out performers, the stock popped 12 per cent on news the company is holding merger talks with Fiat Chrysler.

Meantime, oil gained on the back of Middle East tensions and iron ore prices have continued to rise.

Markets

Wall Street was closed yesterday.

European markets: London’s FTSE was also closed, Paris added 0.4 per cent and Frankfurt gained 0.5 per cent.

Asian markets closed mixed,Tokyo’s Nikkei added 0.3 per cent, Hong Kong’s Hang Seng dropped 0.2 per cent and China’s Shanghai Composite gained 1.4 per cent.

Locally, the SPI futures are down 2points. Yesterday, the Australian share market closed 4 points (0.1per cent) lower at 6452.

Company news

WorleyParsons (ASX:WOR) has announced the appointment of Doctor Juan José Suárez Coppel as an Independent Non-Executive Director to the Board of Directors. He has extensive experience in energy and resources in the Americas and was previously CFO and then CEO of Petróleos Mexicanos. Shares in WorleyParsons (ASX:WOR) closed 1.28 per cent lower at $13.11 yesterday.

Currencies

One Australian Dollar at 7:40AM was buying 69.19US cents, 54.58Pence Sterling, 75.79 Yen and 61.83 Euro cents.

Commodities

Iron Ore futures suggest a 1.85 per cent gain.
Gold has gained $0.70 to US$1290 an ounce.
Silver was up $0.01 to US$14.56 an ounce.
Oil rose $0.61 to US$59.24 a barrel.