The market is up 13. The SFE Futures were up 11 this morning.

The Dow Jones closed down 47 overnight. The Dow was up 114 at best and down 90 at worst. The S&P 500 had a gain of almost 9% in September, in what is a historically weak month, for its best monthly gain since April 2009 and its best September since 1939. The 2nd quarter GDP growth estimate was revised up from 1.6% to 1.7% and initial unemployment claims fell to 453,000 after last week’s rise to 469,000. Oil put on $2.11 to $79.97 — a six week high and Gold fell 70c to $1309.60. The Aussie fell slightly to 96.82c.

Quiet day to finish off the week…

  • It is a Labor Day public holiday on Monday in NSW, ACT and South Australia.Day Light Savings kicks in this weekend — don’t forget to advance your clocks forward one hour this Sunday morning at 2am AEST.
  • Hong Kong and China markets are closed today for the National Day Holiday.
  • Amcor (AMC) has acquired Italy’s B-Pack Due for EUR43m which represents an EBITDA multiple of 4.9x. In CY2009 it had sales of EUR43m. AMC down 8c to 643c.
  • Billabong International (BBG) will acquire a portfolio of Australia retail assets from the General Pants Group and other parties. BBG up 3c to 800c.
  • Australia’s manufacturing sector went backwards in September for the first time this year — fell 4.4 points to 47.3 — a reading below 50 separates indicates contraction.
  • A new agreement between the RBA and Treasurer Wayne Swan has expanded the RBA’s mandate to take into account the stability of the nation’s financial system.
  • MAp Group (MAP) announced Sydney Airport has successfully arranged its bank debt commitments. MAP down 3c to 289c.
  • QR National will release details of their $3bn debt package next week — the five joint lead managers are Credit Suisse, Goldman Sachs, Merrill Lynch, (all providing around $300m each) UBS and Royal Bank of Scotland.
  • Notable stocks going ex-dividend today: ARP Corporation (12c), Nick Scali (4.5c), Reece Australia (38c), Sims Metal Mgt (23c) and Seven Group Holdings (18c).
  • Stocks hitting fresh yearly highs today: Dart Energy (DTA) and Intoll Group (ITO).
  • Stocks hitting fresh yearly lows Photon Group (PGA) — now 8.4c, Programmed Maintenance Services (PRG), Rivercity Motorway Group (RCY) and Valad Property Group (VPG).

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