News: Outlook: Aus shares eye positive leads

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Following gains on Wall Street overnight the Australian share market looks set to make a positive start today.

 

The major US indices all closed more than 1 per cent higher on the back of solid earnings results from Caterpillar Inc. (NYSE:CAT) and 3M Co. (NYSE:MMM), the spike was also helped along by a strong close in Europe.

 

Global figures

Wall Street closed up yesterday: The Dow Jones Industrial Average gained 1.3 per cent to close at 16,678, the S&P 500 added 1.2 per cent to close at 1,951 and the NASDAQ is up 1.6 per cent to close at 4,453.

 

European markets closed up: London’s FTSE gained 0.3 per cent, Paris is up 1.3 per cent and Frankfurt gained 1.2 per cent.

 

Asian markets closed lower : Tokyo’s Nikkei lost 0.4 per cent, Hong Kong’s Hang Seng is down 0.3 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 3 points down to finish at 5,383. On the futures market the SPI is 17 points up. 

 

Turning to currencies and the Australian Dollar at 7:30AM was buying $US0.8761 cents, 54.65 Pence Sterling, 94.82 Yen and 69.27 Euro cents.

 

Company news

 

Neptune Marine Services Limited (ASX:NMS) has extended a contract with Monadelphous Group Limited (ASX:MND) worth $10 million. The offshore engineering company says the extension is for 12 months and covers marine facilities inspection and maintenance work. CEO Robin King says the company is now entering its fourth year of work for Monadelphous and is pleased to be continuing the close relationship with the company. Shares in Neptune Marine closed 2.82 per cent lower yesterday at $1.38.

 

Speedcast International Limited (ASX:SDA) has appointed Keith Johnson as Senior Vice President /GM in charge of energy services globally. The satellite communications provider says Mr Johnson will oversee business activities for the Energy sector. CEO PJ Beylier says Mr Johnson’s depth of experience will help take the company’s energy business to a whole new level. Shares in Speedcast closed 3.61 per cent lower yesterday at $1.87

 

Commodities

Gold is down $16.40 to $US1,229 an ounce for the December contract on Comex.
Silver is down $0.07 to $17.16 for December.
Copper is up $0.02 at $3.04 a pound.
Oil is up $1.57 at US$82.09 a barrel for December light crude in New York.