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Following a poor start to the week the Australian share market is eyeing a lacklustre start to the session. Soft leads come after Wall Street started the week cautiously ahead of the Federal Reserve Open Market Committee announcement Thursday morning. In Europe markets moved in a narrow range ahead of the Fed’s meeting and Scotland’s independence vote. Closer to home the Reserve Bank will the release its meeting minutes and the Australian dollar will also be in focus after yesterday falling under $US0.90. Across commodity markets oil prices have moved higher after yesterday’s losses while the price of iron ore has jumped about 4 per cent to $US85.20 per tonne.
Global markets
Wall Street closed mixed on Monday: The Dow Jones Industrial Average rose 0.3 per cent to close at 17,031, the S&P 500 slipped 0.07 per cent to close at 1,984 and the Nasdaq sank 1.1 per cent to close at 4,519.
European markets put in a mixed performance on Monday: London's FTSE 100 dipped 0.04 per cent, France's CAC 40 lost 0.3 per cent and Germany's DAX added 0.1 per cent.
Asian markets ended mixed on Monday: Japan’s Nikkei gained 0.3 per cent, Hong Kong’s Hang Seng fell almost 1 per cent, and China’s Shanghai Composite added 0.3 per cent.
The Australian share market plunged 1 per cent yesterday following China's disappointing industrial production figures: The S&P/ASX 200 index sank 58 points on Monday to close at 5,474. On the futures market the SPI is 2 points higher.
Currencies
After hitting a fresh six-month low against the greenback yesterday the Australian dollar at 7:25am has lifted to $US0.9033, 55.66 Pence Sterling, 96.82 Yen and 69.83 Euro cents.
Economic news due out today
Reserve Bank of Australia: September board meeting minutes
ANZ Banking Group (ASX:ANZ)-Roy Morgan: Weekly consumer confidence survey
Company news
GPT Group (ASX:GPT) has been named global real estate leader in the 2014 Dow Jones Sustainability Index. The index assesses companies on long-term economic, environmental and social criteria. The diversified property group has now been rated number one in the same category for four out of the past six years. GPT CEO and Managing Director Michael Cameron says the company continues to be driven to further improving the overall sustainability performance of the business. Shares in GPT Group dropped 1.02 per cent to close at $3.90 on Monday.
Shares in Evolution Mining (ASX:EVN) soared to the best performer on the benchmark index yesterday after its joint venture partner revealed its latest drilling results. Emmerson Resources Limited (ASX:ERM) has reported high grade gold and copper at Chariot East and says the drilling has confirmed the potential of the area. Emmerson says further drilling is planned to identify gold shoot plunge and additional high grade gold. Shares in Evolution Mining soared 10.29 per cent to close at $0.75 on Monday.
Commodities
Gold has gained $3.60 to $US1,235 an ounce for the December contract on Comex.
Silver has firmed $0.01 to $18.62 for December.
Copper has lost $0.02 to $3.09 a pound.
Oil has lifted $0.65 to $US92.92 a barrel for October light crude in New York.
Ex-dividends today
Adelaide Brighton Limited (ASX:ABC) paying a 7.5 cent fully franked dividend
Brierty Limited (ASX:BYL) paying a 1.75 cent fully franked dividend
Chalmers Limited (ASX:CHR) paying a 2.5 cent fully franked dividend
Equity Trustees Limited (ASX:EQT) paying a 48 cent fully franked dividend
LandMark White Limited (ASX:LMW) paying a 2.5 cent fully franked dividend
Prophecy International Holdings Limited (ASX:PRO) paying a 0.75 cent unfranked dividend
Royal Wolf Holdings Limited (ASX:RWH) paying a 5.5 cent unfranked dividend
Skilled Group Limited (ASX:SKE) paying a 9.5 cent fully franked dividend
Vita Life Sciences Limited (ASX:VSC) paying a 1.5 cent unfranked dividend
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