The Australian share market has opened slightly lower after markets in the US put in a mixed performance overnight and some major stocks on the local bourse traded ex-dividend.
Wall Street stocks have finished mixed as investors digested August's gains in equities ahead of closely-watched central bank and labour market news later this week.
The share market has edged to its highest close since mid-2008 after the release of mixed economic data and another decision from the Reserve Bank to keep interest rates steady.
Australian banks are lending out money at a faster rate than they are taking it in from deposits, forcing them to increasingly rely on international funding markets, rating agency Moody's warned.
The Reserve Bank is not expected to make any change to the cash rate when it meets on Tuesday, and a rate hike looks unlikely before the middle of 2015.
Global oil prices slid on Monday in subdued deals before a public holiday in the United States and as dealers digested weak Chinese manufacturing data, analysts said.
US stock markets brushed off rising tensions over Ukraine and Iraq to push through to new records, underpinned by easy money and steady growth in corporate profits.
The stock market has closed flat as the impact on miners of weaker iron ore prices, and falls by the retail giants, were offset by gains in other sectors.
Sharp timing on commodities stocks has helped drive a strong result for investment manager Katana Capital, with a 187 per cent increase in revenue to $8.3 million, from $2.8 million the previous financial year.
Perth-based financial services group Pioneer Credit has delivered full-year profit of $4.6 million in its first year as a publicly-listed company on the back of strong gains in customer payments.
The Australian share market has closed modestly higher after the S&P 500 index in the United States finished above 2,000 points for the first time, helped by more encouraging data on the US economy.
Financing group ThinkSmart has reported a six-month net profit of $11.3 million, up 391 per cent from its posted $2.3 million in full-year profit result in February.
The Australian stock market has opened higher following positive leads from US and European markets which have negated the downward effect of local stocks paying out their dividend.
The S&P 500 has finished above 2000 for the first time, capping a steep climb from 676 in March 2009, when the market hit bottom during the Great Recession.
