Outlook: Aus shares set to extend gains

Market Reports

With a further push into the green on Wall Street overnight the local market looks set to extend yesterday’s gains and open higher this morning. 
 
Strong trading on the Australian share market yesterday was led by the release of a long list of earnings results but today results news will be far quieter. 
 
The Australian dollar has pushed above the $US0.93 mark overnight on the back of easing geopolitical tensions in Russia and a weakening of the greenback. 
 
Global figures

Wall Street closed higher yesterday: The Dow Jones Industrial Average gained 0.4 per cent to close at 16,714, the S&P 500 added 0.4 per cent to close at 1,955 and the NASDAQ gained 0.4 per cent to close at 4,453.
 
European markets closed up: London’s FTSE gained 0.4 per cent, Paris gained 0.3 per cent and Frankfurt is also up 0.3 per cent.
 
Asian markets closed mixed: Tokyo’s Nikkei added 0.7 per cent, Hong Kong’s Hang Seng lost 0.4 per cent, and China’s Shanghai Composite lost 0.7 per cent.
 
The Australian share market closed higher yesterday: The S&P/ASX 200 Index closed 34 points up to finish at 5,549. On the futures market the SPI is 23 points up. 
 
Turning to currencies and the Australian Dollar at 7:30AM was buying $US0.9318 cents, 55.86 Pence Sterling, 95.48 Yen and 69.74 Euro cents.
 
Company news
 
Infomedia Limited (ASX:IFM) has appointed Russel King as Chief Financial Officer. The information solutions provider for the automotive industry says Mr King will take over from Jonathon Pollard at the end of this month. The company says Mr King has more than 24 years experience and has most recently been the global CFO for NRS Media Multinational Group. Shares in Infomedia closed 0.57 per cent up yesterday at $0.88
 
Oil Search Limited (ASX:OSH) has confirmed stabilization operations are ongoing at its Taza 2 well in the Kurdistan region of Iraq, after losses and a hydrocarbon influx in the previous week. The oil explorer says the security situation in the region is stable and precautionary measures are in place should operations need to be suspended. The company adds that rigging on the Taza 3 appraisal well is continuing uninterrupted. Shares in Oil Search closed 0.85 per cent up yesterday at $9.47
 
Commodities

Gold is up $3.90 to $US1,315 an ounce for the December contract on Comex. Silver is down $0.06 to $19.84 for September. Copper is down $0.06 at $3.09 a pound. Oil is down $1.89 at US$95.70 a barrel for September light crude in New York.
 
Ex-dividend

Downer EDI Limited (ASX:DOW) paying 12c fully franked.
 

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