The Australian share market looks set to open higher this morning despite the mixed shares on Wall Street in late trade.
The Dow Jones Industrial Average closed slightly higher on Monday as Boeing shares rose on news it will resume deliveries of its grounded 737 Max planes next month. The rest of the U.S. stocks fell amid lingering U.S. and China trade worries, while protests in Hong Kong escalated.
Chinese e-commerce giant Alibaba has set a sales record of more than $38 billion in sales on Singles Day, the world's largest 24 hour shopping event and in London the Sterling has risen sharply following news that Brexit party leader Nigel Farage will not contest any of the 317 seats won by the ruling Conservative Party at the last election.
U.K. Prime Minister Boris Johnson welcomed the decision claiming it would help to avoid another hung Parliament in the United Kingdom.
Wall Street closed mixed yesterday: The Dow Jones Industrial Average add 0.04 per cent to 27,691, the S&P 500 closed 0.2 per cent lower at 3087 and the NASDAQ fell 0.1 per cent to 8464.
European markets closed mixed: London’s FTSE fell 0.4 per cent, Paris added 0.1 per cent and Frankfurt closed 0.2 per cent lower.
Asian markets closed lower: Tokyo’s Nikkei fell 0.3 per cent, Hong Kong’s Hang Seng closed 2.6 per cent lower and China’s Shanghai Composite dropped 1.8 per cent.
The SPI futures are pointing to a 0.1 per cent gain.
Yesterday, the Australian share market closed 48 points or 0.7 per cent higher at 6773..
Mercury NZ (ASX:MCY) has committed to completing New Zealand’s largest wind farm.
The electricity generation company amended its contracts with Vestas to complete the wind farm at the Turitea site near Palmerston North.
Mercury has committed to build the remaining 27 consented turbines at a cost of $208 million, adding to the 33-turbine project announced earlier this year, creating New Zealand’s largest wind farm.
Shares in Mercury NZ (ASX:MCY) closed 0.88 per cent higher at $4.58 yesterday.
Orica Limited (ASX:ORI) is paying 33 cents 15.15 per cent franked.
Westpac Banking Corp (ASX:WBC) is paying 80 cents fully franked.
One Australian Dollar at 8:35 AM was buying 68.51US cents, 53.33 Pence Sterling, 75.71 Yen and 62.12 Euro cents.
Iron Ore is 1.4 per cent lower at US$78.98.
Iron Ore futures suggest a 0.3 per cent gain.
Gold has dropped $7.00 to US$1456 an ounce.
Silver has added$0.01 to US$16.83 an ounce.
Oil has dropped $0.36 to US$56.89 a barrel.