News: Outlook: ASX looks to snap winning streak

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The Australian share market looks to snap a winning streak and open lower after global markets ended broadly unchanged overnight. With the benchmark index edging close to the 6,000 mark this week earnings results are expected to again steer direction. Among the companies reporting today we can expect to hear from Billabong International Limited (ASX:BBG), Blackmores Limited (ASX:BKL), Ramsay Health Care Limited (ASX:RHC), Perpetual Limited (ASX:PPT) and Sydney Airport. 

 

Global markets

 

Wall Street ended almost where is started on Wednesday: The Dow Jones Industrial Average added 0.08 per cent to close at 18,225, the S&P 500 slipped 0.08 per cent to close at 2,114 and the Nasdaq lost 0.02 per cent to close at 4,967.

 

European markets ended mixed on Wednesday: London's FTSE 100 lost 0.2 per cent, France's CAC 40 eased 0.09 per cent and Germany's DAX firmed 0.04 per cent.

 

Asian markets put in a mixed performance: Japan’s Nikkei dipped 0.1 per cent, Hong Kong’s Hang Seng added 0.1 per cent, and China’s Shanghai Composite fell 0.6 per cent.

 

The Australian share market lifted out of the red to close 0.3 per cent higher yesterday: The S&P/ASX 200 index finished 18 points stronger at 5,945. On the futures market the SPI is 19 points lower. 

 

Currencies

 

The Australian dollar at 8:30am was buying $US0.7887, 50.81 Pence Sterling, 93.74 Yen and 69.43 Euro cents.

 

Economic news due out today 

 

Australian Bureau of Statistics: Private new capital expenditure and expected expenditure data for the December quarter and  average weekly time earnings for six months to November 2014

 

Earnings expectations

 

All eyes will be on Qantas Airways Limited (ASX:QAN) when it releases its interim results today. Australia’s largest airline told investors last year it is poised to report is best first half performance since 2010. The company has been supported by its transformation program and lower fuel prices over the period. Qantas has flagged an underlying profit before tax of between $300 million to $350 million. Shares in Qantas Airways lifted 3.31 per cent to close at $2.81 ahead of today’s announcement. 

 

Nine Entertainment Co Holdings Limited (ASX:NEC) will also release its interim results today. The television and entertainment company had earlier predicted a first half net profit of between $85 million and $90 million. Over the full year Nine’s net profit sank 5 per cent to $58 million on the back of one-off significant items and recapitalisation charges. Shares in Nine Entertainment Co Holdings fell 1.33 per cent to close at $1.85 ahead of today’s announcement.

 

Ex-dividends

Bega Cheese Limited (ASX:BGA) paying a 4 cent fully franked dividend

Colorpak Limited (ASX:CKL) paying a 1.25 cent fully franked dividend

Lend Lease Group Limited (ASX:LLC) paying a 27 cent unfranked dividend

OceanaGold Corporation (ASX:OGC) paying a 3.8491 cent unfranked dividend

Super Retail Group Limited (ASX:SUL) paying an 18.5 cent fully franked dividend

 

Commodities 

Gold has gained $7.30 to $US1,205 an ounce for the April contract on Comex. 

Silver has added $0.34 to $16.57 for March. 

Copper has firmed $0.01 to $2.64 a pound. 

Oil has gained $1.75 to $US51.03 a barrel for March light crude in New York.