Following positive overseas leads, the Australian share market looks set to open higher. Stocks on Wall Street broke a two-day losing streak as minutes from the US Fed’s latest meeting echoed recent comments from Chair Janet Yellen that the cental bank would move cautiously as it looks to create a clear path for raising interest rates. Oil prices were on the up once more in overnight trade, giving shares in energy companies a boost.

Markets

 

Wall Street closed up yesterday: The Dow Jones Industrial Average gained 0.6 per cent to close at 17,716, the S&P 500 added 1.1 per cent to close at 2,067 and the NASDAQ gained 1.6 per cent to close at 4,921.

 

European markets closed up: London’s FTSE gained 1.2 per cent, Paris gained 0.8 per cent and Frankfurt gained 0.6 per cent.

 

Asian markets closed mixed: Tokyo’s Nikkei lost 0.1 per cent, Hong Kong’s Hang Seng gained 0.2 per cent, and China’s Shanghai Composite fell 0.1 per cent.

 

The Australian share market closed higher yesterday: The S&P/ASX 200 Index closed 22 points up to finish at 4,946. On the futures market the SPI is 18 points up. 

Currencies

The Australian Dollar at 7:30AM was buying $US0.7601 cents, 53.84 Pence Sterling, 83.45 Yen and 66.71 Euro cents.

Economic news

 

Due out today from the Australian Industry Group is the Construction Index for March. 

Company news

 

DUET Group Limited (ASX:DUE) has reached final close on the acquisition of Alcoa’s 20 percent interest in DBP. DUET’s aggregate ownership of DBP has now increased from 80 percent to 100 percent. Shares in DUET Group closed 0.45 per cent up yesterday at $2.22

 

US Masters Residential Property Fund (ASX:URF) has said its weekly estimated unaudited pre-tax net asset value before withholding tax on unpaid distributions as at 1 April 2016 was $1.91 per unit. Shares in US Masters Residential Property Fund closed 0.93 per cent up yesterday at $2.18. 

Ex-dividends

Name

Code

Date

Amount(cents)

Franking

ARB Corporation.	ARB	7/04/16	14.5	100
Fonterra Share Fund	FSF	7/04/16	15.2	0
Global Value Fnd Ltd	GVF	7/04/16	3.0	100
Hunter Hall Global	HHV	7/04/16	3.0	100
Harvey Norman	HVN	7/04/16	13.0	100
Japara Healthcare Lt	JHC	7/04/16	5.8	100
Melbourne IT Limited	MLB	7/04/16	4.0	80
Nufarm Limited	NUF	7/04/16	4.0	0
Wealth Def Equ Ltd	WDE	7/04/16	1.0	100

Commodities
 

Gold has lost nearly $6 to $US1,224 an ounce for the June contract on Comex.
Silver has lost $0.06 to $15.05 for May.
Copper has gained $0.01 to $2.14 a pound.
Oil has gained $1.84 to $US37.73 a barrel for May light crude in New York.