Australian Market Looks To Open Higher
December 29th, 2009 by Bryden Elssmann
Closing Data
| Current | Change | % | |
|---|---|---|---|
| Dow Jones | 10547.08 | 26.98 | 0.3% |
| NASDAQ | 2291.08 | 5.39 | 0.2% |
| S P 500 | 1127.78 | 1.3 | 0.1% |
| FTSE 100 | 5402.41 | 0 | 0.0% |
| Nikkei 225 | 10634.23 | 139.52 | 1.3% |
| ASX 200 | 4,833 | 41.8 | 0.9% |
| COMEX Gold - Dec 09 | 1107.8 | 3 | 0.3% |
| COMEX Silver - Sep 09 | 17.56 | 0.12 | 0.7% |
| COMEX Copper - Sep 09 | 333.5 | 4.25 | 1.3% |
| WTI Spot | 78.77 | 1.72 | 2.2% |
| AUD-USD | 0.8871 | 0.0019 | 0.2% |
| Aluminium | 2201 | 0 | 0.0% |
| Copper | 7070 | 0 | 0.0% |
| Lead | 2327 | 0 | 0.0% |
| Nickel | 18640 | 0 | 0.0% |
| Tin | 16145 | 0 | 0.0% |
| Zinc | 2490.5 | 0 | 0.0% |
Returning from the Christmas holiday the Australian share market looks like it may open slightly higher this morning following a positive lead from Wall St overnight with stronger metals and oil prices likely to boost resource stocks. US stocks rose to new closing highs for the year in a thinly traded session today, as gains across a host of companies including IBM and 3M overcame declines in American Express and other financial stocks. The Dow Jones Industrial Average closed up 26.98 points, or 0.26 per cent, to 10,547.08.
OIL ended at a five-week high following geopolitical unrest, February delivery settled US .72 cents higher or 0.9 percent at $US78.77 a barrel. Russia added to growing geopolitical fears when it threatened to cut off oil supplies to Europe via the Druzhab pipeline following a dispute with Ukraine. Russia’s threat to European energy supplies is becoming an annual affair, with halts to shipments in 2007 & 2008 (little long term affect to the market). With potential unrest in Iran following antigovernment protests many investors are reluctant to be short. Watch Australian Oil & Gas producers OSH and WPL for a positive move this morning.
Macquarie Group (MQG), A report in the Sydney Morning Herald says that Macquarie Group is one of three final bidders for the $4.52 billion Sempra energy trading business. The paper says the British Press has named Macquarie Group along with JPMorgan and Deutsche Bank as bidders for the RBS Sempra Commodities business. According to the report the Royal Bank of Scotland has been told to sell the asset by the European Commission after receiving state aid from the British Government, the company is 83% owned by the British taxpayer. RBS Sempra Commodities is a joint venture between RBS and Sempra Energy. Macquarie Group recorded net profit after tax for the year to March 30, 2009 of $871 million.
Contact your Freeman Fox Stockbroker on 07 3031 9960 or 1800 003 369 Ext 7.
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