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US markets have thrown forth positive leads, bouncing back strongly after oil prices stabilised and investors quickly shook off the horror start to the year. The Australian share market looks set to open higher as central bank managers around the world indicted more support would be forthcoming if needed.
US economic news
The Labor department says jobless claims fell by 4,000 to 294,000 in the week ended Jan 3. Analysts say payroll figures due tomorrow are expected to show the best jobs growth since 1999 maintaining the growing signs of strength in the US economy.Markets
Wall Street closed up yesterday: The Dow Jones Industrial Average jumped 1.8 per cent to close at 17,905, the S&P 500 added 1.8 per cent to close at 2,062 and the NASDAQ gained 1.8 per cent to close at 4,736.European markets closed also closed higher: London’s FTSE advanced 2.3 per cent, Paris gained 3.6 per cent and Frankfurt rose 3.4 per cent.Asian markets closed mixed: Tokyo’s Nikkei added 1.7 per cent, Hong Kong’s Hang Seng increased 0.7 per cent, and China’s Shanghai Composite slipped 2.4 per cent.The Australian share market closed higher yesterday: The S&P/ASX 200 Index closed 28 points up to finish at 5,382. On the futures market the SPI is 45 up.Turning to currencies and the Australian Dollar at 8:20AM was buying 81.15 US cents, 53.8 Pence Sterling, 97.1 Yen and 68.84 Euro cents.Australian economic news
Due out today from the Australian Bureau of Statistics is retail trade figures for November as well as AIG/HIA performance of construction index for December.Company news
Fortescue Metal Group Limited (ASX:FMG) says it has upgraded the expected mineral resource base in the Chichester Ranges in Western Australia. More than 300 million tonnes have been added to estimates of the known mineral resources including those at Cloudbreak and Christmas Creek. The resources are at or near the surface and are expected to be easily and cheaply extracted. A new mineral resource has also been identified 35 km southeast of Christmas Creek and drilling and exploration activities continue there. The new extension deposits all lie within the Chichester Development Hub. Shares in Fortescue Metals Groups closed 2.55 per cent lower yesterday at $2.67.Trade Me Group Limited (ASX:TME) says the New Zealand job market is going gangbusters after a strong 2014 with double digit growth in the fourth quarter. Onsite advertised jobs lifted almost 14 per cent across the board for the final quarter. Auckland was up 20 per cent, Canterbury increased by 10 per cent and Wellington advanced by 8 per cent. Sectors including automotive, construction, manufacturing and trades are all major contributors to the growth with rebuilding after the Canterbury earthquake providing high demand for workers. Shares in Trade Me Group closed 2.34 per cent higher yesterday at $3.50.TMECommodities
Gold is down $1.90 to $US1,209 an ounce for the February contract on Comex. Silver is down $0.18 to $16.36 for March. Copper is up $0.01 at $2.76 a pound. Oil is up $0.42 at US$49.50 a barrel for February light crude in New York.
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Last
$21.62 |
Change
-0.420(1.91%) |
Mkt cap ! $66.56B | |||
| Open | High | Low | Value | Volume |
| $21.61 | $21.78 | $21.48 | $190.2M | 8.611M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 7 | 15504 | $21.61 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $21.62 | 6560 | 1 |
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| Last trade - 16.10pm 19/07/2024 (20 minute delay) ? |
| FMG (ASX) Chart |