{"streaming_server":"rtmp:\/\/s2svek4dh1hfyu.cloudfront.net\/cfx\...

.

Following broadly positive leads from across global markets, the Australian share market looks set to open higher today. Investors are also eagerly awaiting BHP’s June quarter report for signs of an increase in mining activity. 

 

US economic news

The US Gallup Economic Confidence Index is limping higher. After a dip two weeks ago the weekly index has added 3 points to –15, still in negative territory, it is now similar to what it was 3 months ago. 

 

Markets

Wall Street closed stronger overnight: The Dow Jones Industrial Average gained 0.36 per cent to close at 17,114, the S&P 500 added 0.50 per cent to close at 1,984 and the NASDAQ improved 0.71 per cent to close at 4,456.

 

European markets closed also closed in positive territory: London’s FTSE climbed 0.99 per cent, Paris rose 1.5 per cent and Frankfurt gained 1.27 per cent.

 

Asian markets closed higher across the board: Tokyo’s Nikkei added 0.84 per cent, Hong Kong’s Hang Seng lifted 1.69 per cent, and China’s Shanghai Composite advanced 1.02 per cent.

 

The Australian share market closed a touch higher yesterday: The S&P/ASX 200 Index added 3 points to finish at 5,543. On the futures market the SPI is 17 points up. 

 

Currencies

Australian Dollar at 7:20AM was buying 93.94 US cents, 55.07 Pence Sterling, 95.33 Yen and 69.78 Euro cents.

 

Australian economic news

Due out today from the Australian Bureau of Statistics is the consumer price index for the June quarter. 

 

Company news 
 

Hutchison Telecommunications (Australia) Limited (ASX:HTA), operator of Vodafone Australia continues to struggle for customers. Half yearly reports issued after the market closed yesterday show Vodafone lost 137,000 customers in the six months ending June 30, 2014.The company posted a net loss of $79.5 million for the period. This compares to a loss of $95.8 million for the previous corresponding period. Whilst operating performance has improved Hutchison is still dealing with a shrinking customer base and the loss of voice and text message revenue. Shares in Hutchison Telecommunications were flat yesterday at $0.08  

 

Shareholders in Antares Energy Limited (ASX:AZZ) have voted overwhelmingly to reject an unsolicited takeover offer from Lone Star Value Investors. The US based firm, which holds 6 per cent of the oil and gas junior, agitated for an emergency general meeting in order to replace some of the Antares board members with nominees of its own. Antares Chairman James Cruikshank said, ‘Shareholders have sent a clear message to Lone Star that they will not concede control of their company without a formal bid that offers shareholders an attractive premium’ and called on Lone Star to make that bid. Shares in Antares Energy last traded 0.78 per cent higher at $0.65. 

 

Ex-dividends

One company is trading ex-dividend today, Mirrabooka Investments is paying 16.5 cents per share fully franked. 

 

Commodities

Gold is down $7.60 to $US1,306 an ounce for the August contract on Comex. Silver is flat at $21.02 for September. Copper is 1 cent higher at $3.20 a pound. Oil is down $0.17 at US$104.42 a barrel for August light crude in New York.