News: Outlook: Mixed leads point ASX to flat start

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Mixed offshore leads have positioned the Australian share market for a steady start to the session. While European markets rose Wall Street pulled back from record highs earlier in the week after the release of the US Federal Reserve’s Beige Book. Across commodity markets the price of gold, silver and iron ore have dipped while the price of oil has moved higher. 

 

Global markets

 

Wall Street dropped on Wednesday: The Dow Jones Industrial Average retreated 0.6 per cent to close at 18,097, the S&P 500 retreated 0.4 per cent to close at 2,099 and the Nasdaq retreated 0.3 per cent to close at 4,967. 

 

European markets lifted on Wednesday: London's FTSE 100 gained 0.4 per cent and France's CAC 40 and Germany's DAX both gained 1 per cent.

 

Asian markets ended mixed on Wednesday: Japan’s Nikkei eased 0.6 per cent, Hong Kong’s Hang Seng pulled back 1 per cent, but China’s Shanghai Composite gained 0.5 per cent.

 

The Australian share market shed 0.5 per cent following national growth figures yesterday: The S&P/ASX 200 index dropped 32 points to close at 5,902 on Wednesday. On the futures market the SPI is 1 point lower. 

 

Currencies

 

The Australian dollar at 8:45am was buying $US0.7822, 51.26 Pence Sterling, 93.63 Yen and 70.63 Euro cents.

 

Economic news due out today

 

Australian Bureau of Statistics: Retail trade data for January and international trade in goods and services data for January

 

Company news

 

Ahead of this weekend’s Gay and Lesbian Mardi Gras Festival in Sydney Australia’s big banks are getting into the spirit. ANZ Banking Group (ASX:ANZ) says its GAYTM’s are louder and prouder than ever and the campaign will also venture outside of the city’s boarders. The initiative has transformed a number of the bank’s ATMs with colourful designs and machines that print rainbow coloured receipts. ANZ’s inaugural GAYTM campaign last year attracted international acclaim and this year will mark the banks ninth year of sponsorship of the festival. Shares in ANZ Banking Group fell 0.39 per cent to close at $35.52 on Wednesday. 

 

National Australia Bank Limited (ASX:NAB) and the Australian Football League (AFL) have today announced the first AFL-sanctioned match celebrating diversity and the lesbian, gay, bisexual, transgender and intersex community. The Sydney Swans and the Fremantle Dockers will compete in the NAB Challenge Pride match on Sunday 15 March in Western Sydney. The match will see the 50 metre arc, goal post pads and goal umpire flags decorated in rainbow colours. Shares in National Australia Bank dropped 0.52 per cent to close at $38.09 on Wednesday. 

 

Commodities 

Gold has declined $3.50 to $US1,201 an ounce for the April contract on Comex. 

Silver has slipped $0.14 to $16.16 for May. 

Copper has added $0.03 to $2.66 a pound. 

Oil has firmed $1.01 to $US51.53 a barrel for April light crude in New York.

Ex-dividends

 

Ariadne Australia Limited (ASX:ARA)

CMI Limited (ASX:CMI)

Caltex Australia Limited (ASX:CTX)

Globe International Limited (ASX:GLB)

Hansen Technologies Limited (ASX:HSN)

Healthscope Limited (ASX:HSO)

Iluka Resources Limited (ASX:ILU)

Integrated Research Limited (ASX:IRI)

Paragon Care Limited (ASX:PGC)

Prime Media Group Limited (ASX:PRT)

Qube Holdings Limited (ASX:QUB)

RCG Corporation Limited (ASX:RCG)

Ramsay Health Care Limited (ASX:RHC)

Silver Chef Limited (ASX:SIV)

Sky Network Television Limited (ASX:SKT)

Summerset Group Holdings Limited (ASX:SNZ)

Villa World Limited (ASX:VLW)