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US markets closed for Martin Luther King Jr Day: ASX set to open higher

Australian Business News
Australian Business News
The Australian share market looks set to open higher. US markets are closed for Martin Luther King Jr Day. The price of iron ore continues to rise due to China’s demand. China’s economy grew 6.5 per cent year on year in the fourth quarter, beating the 6.2 per cent forecast by consensus economists. Back home, 25 council areas have eased restrictions as the Blue Mountains, Wollongong and most Greater Sydney local government areas were downgraded to orange zones at 6pm last night. Local economic news: Weekly Payroll Jobs and Wages in Australia Reference period Week ending 2 January 2021 Markets: Wall Street closed lower on Friday: The Dow Jones Industrial Average lost 0.6 per cent to close at 30,814, the S&P500 dropped 0.7 per cent to close at 3768 and the NASDAQ closed 0.9 per cent lower at 12,999. European markets closed mixed yesterday: London’s FTSE lost 0.2 per cent, Paris gained 0.1 per cent and Frankfurt closed 0.4 per cent higher. Asian markets closed mixed yesterday: Tokyo’s Nikkei fell almost 1 per cent, Hong Kong’s Hang Seng gained 1 per cent and China’s Shanghai Composite gained 0.8 per cent. Taking all this into equation, the SPI is pointing to a rise of 37 points. Yesterday, we closed 0.8 per cent lower, or 52 points lower, at 6,663. Company news : Turners Automotive Group (ASX:TRA) now expects FY21 Net Profit Before Tax (NPBT) to be within a range of $33 million to $35 million, with trading results exceeding expectations across Auto Retail, Finance and Insurance business units in November and December. This is an upwards revision from the company’s update in November, when NPBT was “expected to be towards the upper end” of the $28 million to $31 million NPBT range provided at its September annual shareholders meeting. Shares in Turners Automotive Group (ASX:TRA) last traded at $2.90. Ex-Dividends: There are two companies going ex-dividend today. Alternative Investment Trust (ASX:AIQ) is paying 0.31 cents unfranked. Katana Capital (ASX:KAT) is paying 0...
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