The Australian sharemarket is poised for a soft open as international markets closed in the red. Wall Street suffered another brutal but did manage to recoup some of the heavy earlier losses. The S&P 500’s energy sector fell 5 percent as US oil prices tumbled to 2003 lows. The energy space also in focus on today’s local session with Woodside Petroleum and Oz Minerals providing production numbers, while Senex Energy holds a briefing for its December quarter report.
US economic news
Consumer prices fell 0.1 percent in December. Data released by the Labor Department fell unexpectedly off the back of low energy prices and rising services costs.
Markets
Wall Street closed lower yesterday: The Dow Jones Industrial Average lost 1.6 per cent to close at 15,767, the S&P 500 lost 1.2 per cent to close at 1,859 and the NASDAQ lost 0.1 per cent to close at 4,472.
European markets closed lower: London’s FTSE lost 3.5 per cent, Paris lost 3.45 per cent and Frankfurt lost 2.8 per cent.
Asian markets closed lower: Tokyo’s Nikkei lost 3.7 per cent, Hong Kong’s Hang Seng fell 3.8 per cent, and China’s Shanghai Composite lost 1 per cent.
The Australian share market closed lower yesterday: The S&P/ASX 200 Index closed 62 points down to finish at 4,842. On the futures market the SPI is 14 points up.
Currencies
The Australian Dollar at 8:20AM was buying $US0.6920 cents, 48.79 Pence Sterling, 80.96 Yen and 63.53 Euro cents.
Economic news
Due out today from the Housing Industry Association is new home sales data for November. Meanwhile we’re also set to receive the Melbourne Institute’s inflation expectation read.
Company news
Orion Health (ASX:OHE) has increased its offering to the UK’s largest healthcare provider, the NHS Greater Glasgow and Clyde Health Board (NHS GGC). The company has expanded its offering within the NHS GGC to deliver two new modules, Medicines Reconciliation and Problem List. The NHS GGC is also adopting Healthcare Pathways, extending its use of Orion Health’s Coordinate solution. Shares in Orion Health last traded at $2.85.
Yancoal Australia Limited (ASX:YAL) has met with full year operational guidance to produce a total 15.26 million tones saleable coal (equity share) for 2015, down nine percent on the year prior. The company acknowledged the impact of market headwinds but cited improved production efficiencies as facilitating cost savings and operational improvements. Shares in Yancoal Australia closed 4.4 per cent up yesterday at $0.095.
Commodities
Gold has gained $12.10 to $US1,101 an ounce for the February contract on Comex.
Silver has gained $0.04 to $14.16 for March.
Copper has gained $0.01 to $1.98 a pound.
Oil has lost $0.86 to $US28.71 a barrel for February light crude in New York.