Lifted by a positive US lead the Australian share market looks set to firm at open. While European and Asian markets posted mixed closes Wall Street continued its record run with the Dow Jones finishing at a record high for the fifth straight session and the S&P 500 edging closer to its all-time closing high record.
Wall Street started the week higher: The Dow Jones Industrial Average added 50 points to close at 14,447, the S&P 500 added 5 points to close at 1,556 and the NASDAQ added 9 points to close at 3,253.
European markets closed mixed on Monday: London’s FTSE added 20 points, Paris lost 4 points and Frankfurt lost 2 points.
Asian markets closed mixed on Monday: Hong Kong’s Hang Seng dipped 1 point, Tokyo’s Nikkei added 65 and China’s Shanghai Composite lost 8 points.
The Australian share market started the week 0.5 per cent higher: The S&P/ASX 200 Index gained 24 points yesterday to close at 5,147. On the futures market the SPI is 7 points higher.
The Australian Dollar at 7:30AM was buying $US1.027 cents, 68.89 Pence Sterling, 98.96 Yen and 78.8 Euro cents.
Economic news due out today
National Australia Bank Limited’s (ASX:NAB)
: Monthly business survey for February
Aurizon Holdings Limited (ASX:AZJ)
, formally QR National, has inked a deal with India’s GVK to develop infrastructure for the Galilee Basin coal precinct. Both companies will jointly develop the most cost and time efficient rail and port solution for the region. The $6 billion deal has been described as one of the most significant in Queensland’s coal history. Shares in Aurizon Holdings closed steady at $4.06 on Monday.
Capitalising off the online retail sales boom Mark Bouris’ TZ Limited (ASX:TZL)
has revealed a new deal to install secure lockers in petrol stations and convenience stores around Australia. The development company has entered into agreements to install parcel lockers in potentially more than 130 locations which will enable customers to pick up parcels as opposed to wait at home for a delivery. Shares in TZ closed steady at $0.16 on Monday.
Adacel Technologies Limited (ASX:ADA)
with a 1.5 cent unfranked dividend
Automotive Holdings Group Limited (ASX:AHE)
with an 8 cent fully franked dividend
Delta SBD Limited (ASX:DSB)
with a 1.8 cent fully franked dividend
Homeloans Limited (ASX:HOM)
with a 3 cent fully franked dividend
Miclyn Express Offshore Limited (ASX:MIO)
with a 2.14 cent unfranked dividend
Salmat Limited (ASX:SLM)
with a 25 cent fully franked dividend
Gold is up $1.10 to $US1,578 an ounce for the April contract on Comex.
Silver is down $0.01 to $28.85 for March.
Copper is up $0.01 at $3.52 a pound.
Oil is up $0.11 at $US92.06 a barrel for April light crude in New York.