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The Australian share market is poised for a positive start ahead of a series of earnings reports and stocks trading ex-dividend. Wall Street lifted off session lows but ended broadly flat amid weakness in the energy sector and lower US home sales.
Today’s spotlight will be on companies releasing results and we can expect to hear from BHP Billiton Limited (ASX:BHP), Atlas Iron Limited (ASX:AGO) and Flight Centre Travel Group Limited (ASX:FLT). Also reporting will be Scentre Group Limited (ASX:SCG) Spotless Group Holdings Limited (ASX:SPO) Oil Search Limited (ASX:OSH) and Village Roadshow Limited (ASX:VRL).
Global markets
Wall Street saw a soft start to the trading week: The Dow Jones Industrial Average dipped 0.1 per cent to close at 18,117, the S&P 500 slipped 0.03 per cent to close at 2,110 and the Nasdaq added 0.1 per cent to close at 4,961.
European markets ended mixed on Monday: London's FTSE 100 lost 0.04 per cent, France's CAC 40 added 0.7 per cent and Germany's DAX gained 0.7 per cent.
Asian markets rose into the new week: Japan’s Nikkei jumped 0.7 per cent, Hong Kong’s Hang Seng firmed 0.02 per cent, and China’s Shanghai Composite remained closed for Lunar New Year holidays.
The Australian share market rose into the new week and closed above the key 5,900 mark: The S&P/ASX 200 index gained 26.5 points on Monday finish at 5,908. On the futures market the SPI is 15 points higher.
Currencies
The Australian dollar at 8:30am was buying $US0.7805, 50.52 Pence Sterling, 92.71 Yen and 68.89 Euro cents.
Economic news
ANZ Banking Group (ASX:ANZ)-Roy Morgan: Weekly consumer confidence survey
Reporting season
QBE Insurance Group Limited (ASX:QBE) says it has achieved a strong rebound over the 2014 financial year. The insurer swung to an annual profit of $US742 million, improving from a loss of $US254 million the year before. Looking ahead QBE has warned a strengthening of the US dollar could see headline premiums reduce. A fully franked final dividend of 22 cents has been declared, taking the full year payout to 37 cents per share. Shares in QBE Insurance Group rose 0.35 per cent to close at $11.61 yesterday ahead of this morning’s results.
Brierty Limited (ASX:BYL) has affirmed its annual revenue guidance after posting a fall in its interim profit, revenue and EBITDA over a period it says was by no means an easy six months. The civil and mining services provider posted a net profit of $4.1 million in the first half, down from a profit of $4.4 million the year before. Managing Director Peter McBain says the company had performed well in a difficult environment and remained busy on a number of major contracts. Shares in Brierty gained 2.33 per cent to close at $0.44 yesterday ahead of this morning’s results.
Ex-dividends
AGL Energy Limited (ASX:AGL) paying a 30 cent fully franked dividend
Amcor Limited (ASX:AMC) paying a 24.4 cent unfranked dividend
Australian United Investment Company Limited (ASX:AUI) paying a 15.5c ent fully franked dividend
Bendigo and Adelaide Bank Limited (ASX:BEN) paying a 33 cent fully franked dividend
Diversified United Investment Limited (ASX:DUI) 6.5 cent fully franked dividend
Finbar Group Limited (ASX:FRI) paying a 4 cent fully franked dividend
My Net Fone Limited (ASX:MNF) paying a 2.5 cent fully franked dividend
Origin Energy Limited (ASX:ORG) paying a 25 cent fully franked dividend
Wesfarmers Limited (ASX:WES) paying an 89 cent fully franked dividend
Commodities
Gold has dropped $3.70 to $US1,201 an ounce for the April contract on Comex.
Silver is trading flat at $16.32 for March.
Copper is steady at $2.58 a pound.
Oil has pulled back $1.47 to $US49.34 a barrel for March light crude in New York.
(20min delay)