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Friday, 09 January 2009

ASX receives no lead from closed Wall St

28/11/2008 8:19:00 AM.  | AAP
Australian markets have received no lead from Wall Street, closed as US markets were for Thanksgiving.

At 0658 AEDT on the Sydney Futures Exchange, however, the December Share Price Index futures contract was up 32 points at 3,600.

In economic news on Friday, the Reserve Bank of Australia releases financial aggregates data for October and the Housing Industry Association releases its state and national outlook for the September quarter.

In equities, retailer David Jones Ltd holds its annual general meeting in Sydney, as do both Qantas Airways Ltd and Virgin Blue Holdings Ltd.

On the final day of the  season proper, other meetings include troubled property investor Centro Properties, Babcock & Brown Capital, Cazaly Resources Ltd, Fat Prophets Australia Fund Ltd, Golden West Resources Ltd, Aquila Resources Ltd, car dealer Automotive Holdings Group and, in New Zealand, dual-listed retailer The Warehouse Group Ltd.

AGMs are being held also by Cash Converters International, Beach Petroleum Ltd, Greater Bendigo Gold Mines Ltd, Macquarie Leisure Trust, Macquarie Telecom Group Ltd, Pike River Coal Ltd (also in NZ), and Bluefreeway Ltd.

In Sydney, the Australian Securitisation Conference concludes, and NSW Premier Nathan Rees addresses the American Chamber of Commerce in Australia on Investment Opportunities in NSW.

In Melbourne, Alcoa Australia managing director Alan Cransberg also addresses The American Chamber of Commerce in Australia on Leadership in Challenging Times.

On Thursday, the Australian share market closed around 1.4 per cent stronger, with the big miners leading the way.

The benchmark S&P/ASX200 index closed up 48 points, or 1.36 per cent, at 3588, while the broader All Ordinaries gained 48.6 points, or 1.4 per cent, at 3528.2.

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