News: Outlook: Aus shares to open lower

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    US markets were closed for Thanksgiving on Thursday however a vote from OPEC to take no action against a global oil supply glut sent oil futures tumbling.  A 2 per cent jump in the iron ore price was the only bright spot in commodity prices but that may not be enough to give Australian investors heart with the SPI pointing to a negative open for the ASX. 
     
    Markets

    Wall Street was closed yesterday: The Dow Jones Industrial Average last traded at 17,828, the S&P 500 last traded at 2,073 and the NASDAQ last traded at 4,787.
     
    European markets ended mixed: London’s FTSE lost 0.09 per cent, Paris lost gained 0.2 per cent and Frankfurt added 0.6 per cent.
     
    Asian markets closed mixed: Tokyo’s Nikkei added slipped 0.8 per cent, Hong Kong’s Hang Seng shed 0.5 per cent, and China’s Shanghai Composite advanced 1 per cent.
     
    The Australian share market closed flat yesterday: The S&P/ASX 200 Index closed 5 points up to finish at 5,401. On the futures market the SPI is 17 point down.  
     
    Currencies

    The Australian Dollar at 8.35AM was buying 85.51US cents, 54.35 Pence Sterling, 100.69 Yen and 68.62 Euro cents.
     
    Economic news

    Due out today from the Reserve Bank are the financial aggregates for October and October private sector credit. ANZ Business confidence for November is also due out today. 
     
    Company news

    Independence Group (ASX:IGO) says the Optimisation Study of its ‘Stockman’ project in NE Victoria has shown that it’s a viable development project for the company. The study identified attractive concentrates of copper and zinc and projected a ten year life for the mine. Capital requirements of $233 million are within the capabilities of the company and Independence plans to advance the project by securing the range of licenses required by both the Commonwealth and Victorian State departments over the next 12 – 18 months. Shares in Independence closed 0.93 per cent lower at $4.26 yesterday.
     
    Rio Tinto Limited (ASX:RIO) has declared a significant increase of its thermal coal reserves and resources in NSW’s Hunter Valley. Ore reserves have increased by 546 million tonnes to 1877 million tones. Rio Tinto says that a sustained and extensive drilling program has identified that the resource is characterized by shallow, thick seams with little geological faulting. Shares in Rio Tinto last traded 0.6 per cent lower at $58.02.
     
    Ex-dividends

    2 companies are trading ex-dividend today, Aristocrat Leisure will pay 8 cents un-franked, Graincorp will pay 5 cents fully franked. 
     
    Commodities

    Gold is down $0.50 to $US1,197 an ounce for the December contract on Comex. Silver is down $0.01 to $16.55 for December. Copper is flat at $2.96 a pound. Oil is down $0.40 at US$73.69 a barrel for January light crude in New York.
 
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Last
$121.76
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$122.26 $123.10 $121.60 $222.3M 1.816M

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Price($) Vol. No.
$121.96 20 1
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Last trade - 16.10pm 28/03/2024 (20 minute delay) ?
Last
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