Wednesday, September 26, 2012

australian stock market for september 27 2012

australian stock market for september 27 2012 :     The Australian share market looks set to open lower once again today on the back of European and US markets sagging after significant disenchantment over austerity measures in both Greece and Spain.

US economic news

The census bureau has released its new home sales report,  revealing a 28 per cent increase in new homes sold from this time last year. The report also showed a 11 per cent increase in new home prices and a 17 per cent annual increase in sales prices. Later today out of the US we will see reports for second quarter Gross Domestic Product, personal consumption and initial and continuing jobless claims.


Wall Street closed lower yesterday: The Dow Jones Industrial Average lost 44 points to close at 13,414, the S&P500 dropped 8 points to close at 1,433 and the Nasdaq lost 24 points to close at 3,094.

European markets closed lower as well: London’s FTSE lost 92 points, Paris lost 99 points and Frankfurt dropped 149 points.

Asian markets also closed lower: Hong Kong’s Hang Seng shed 171 points, Tokyo’s Nikkei lost 185 and China’s Shanghai Composite is down 25 points.

The Australian share market closed lower yesterday: The S&P/ASX 200 Index closed 11 points down to finish at 4,362. On the futures market the SPI is 18 points down.


The Australian Dollar at 7:30AM was buying $US1.036 cents, 64.17 Pence Sterling, 80.58 Yen and 80.58 Euro cents.

Economic news

Due out today from the Australian Bureau of Statistics (ABS) is its job vacancies report for August.

Company news

BHP Billiton Limited (ASX:BHP) has met with South Australian Mineral Resources and Energy Minister Tom Koutsantonis to seek an extension to the indenture agreement covering its Olympic Dam mine expansion. The global miner issued a letter requesting an extension to the approval deadline for its $30 billion expansion, currently slated for December 15 this year. BHP’s desired extension would shift the deadline to October 10, 2016, a request that Mr Koutsantonis says means BHP are serious about staying in South Australia and developing the asset. Shares in BHP closed 1.32 per cent lower yesterday at $32.81.

CSL Limited (ASX:CSL) is developing a new drug candidate aimed at preventing the development and reversing the progression of type 2 diabetes. Senior vice president of research Dr Andrew Nash says that results seen in laboratory studies are very promising for the millions of people around the world who are affected by the disease, which is reaching epidemic proportions and is a significant public health burden. Shares in CSL closed 1.96 per cent up yesterday at $45.18


Alliance Aviation Services Limited (ASX:AQZ) with a 5.6 cent dividend fully franked.

SDI Limited (ASX:SDI) with a 0.3 cent dividend fully franked.


Gold is down $12.80 to $US1,753.60 an ounce for the December contract on Comex. Silver is down $0.01 to $33.94 for December. Copper is down $0.05 at $3.71 a pound. Oil is down $1.39 at US$89.98 a barrel for November light crude in New York.

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