.
The Australian share market looks poised for a steady start to the session after European markets rose but US markets declined. Following Tuesday’s steep drop Wall Street saw muted trade on Wednesday and retreated from a positive start to end lower. The Australian dollar has remained weak ahead of Australia’s official jobs numbers due for release this morning.
Global markets
Wall Street dipped into the red on Wednesday: The Dow Jones Industrial Average slipped 0.2 per cent to close at 17,635, the S&P 500 eased 0.2 per cent to close at 2,040 and the Nasdaq declined 0.2 per cent to close at 4,850.
European markets lifted on Wednesday: London's FTSE 100 rose 0.3 per cent, France's CAC 40 jumped 2.4 per cent and Germany's DAX climbed 2.7 per cent.
Asian markets ended mixed on Wednesday: Japan’s Nikkei added 0.3 per cent, Hong Kong’s Hang Seng lost 0.8 per cent, and China’s Shanghai Composite added 0.2 per cent.
The Australian share market recovered some of the morning losses to end 0.5 per cent lower yesterday: The S&P/ASX 200 Index dropped 31 points to close at 5,793 on Wednesday. On the futures market the SPI is 5 points higher.
Currencies
The Australian dollar at 7:30am was buying $US0.7611, 50.95 Pence Sterling, 92.38 Yen and 72.1 Euro cents.
Economic news due out today
Australian Bureau of Statistics: Labour Force figures for February
Reserve Bank of Australia: Credit and debit lending for January
Labour Force expectations
Commonwealth Bank of Australia’s (ASX:CBA) broking arm Commsec expects the Australian economy to have added 18,000 jobs in February after 12,000 were lost in January. Commsec says the jobless rate may have eased from 6.4 per cent to 6.3 per cent. Shares Commonwealth Bank of Australia slipped 0.18 per cent to close at $90.52 on Wednesday.
National Australia Bank Limited (ASX:NAB) has forecast slightly less jobs creation of 15,000 last month but also believes the unemployment rate may fall to 6.3 per cent. The bank says it will be watching the composition of employment in February’s report after January's numbers were dominated by a drop in full time jobs. Shares in National Australia Bank dipped 0.53 per cent to close at $37.56 on Wednesday.
Commodities
Gold has declined $9.50 to $US1,151 an ounce for the April contract on Comex.
Silver has lost $0.27 to $15.36 for May.
Copper has eased $0.02 to $2.61 a pound.
Oil has fallen $0.12 to $US48.17 a barrel for April light crude in New York.
Ex-dividends
Automotive Group Holdings Limited (ASX:AHE)
Austal Limited (ASX:ASB)
Codan Limited (ASX:CDA)
CI Resources Limited (ASX:CII)
iiNet Limited (ASX:IIN)
IMF Bentham Limited (ASX:IMF)
Intueri Education Group Limited (ASX:IQE)
Joyce Corporation Limited (ASX:JYC)
Monash IVF Group Limited (ASX:MVF)
Shine Corporate Limited (ASX:SHJ)
Valmec Limited (ASX:VMX)
Vita Group Limited (ASX:VTG)
(20min delay)