The Australian market looks set to open lower after Wall Street fell with investors fretting about the health of big banks.
The SPI is down 5448, down 16 points
Major US banks extended recent declines as investors worried about the stability of Deutsche Bank and also Wells Fargo & Co’s handling of sales abuses.
Locally, in economic news on Tuesday, the Reserve Bank of Australia (RBA) holds its monthly board meeting and announces its interest rate decision. The RBA also releases commodity prices figures.
The Australian Bureau of Statistics releases August building approvals data, while the ANZ job advertisements series for September is also due out. No major equities news is expected.
- The SPI is down 5448, down 16 points
- AUD +0.3% to 76.75 US cents
- On Wall St, Dow -0.3%, S&P 500 -0.4%, Nasdaq -0.3%
- In New York, BHP +0.6%, Rio +0.4%, Deutsche Bank -1.3%
- In Europe, Stoxx 50 -0.1%, FTSE +1.2%, CAC +0.1%, DAX closed
- Spot gold -0.3% to $US1311.65 an ounce
- Brent crude +0.9% to $US50.66 a barrel
- Iron ore at $US55.86 a tonne
- LME aluminium +0.2% to $US1677 a tonne
What’s on today
RBA rate decision, Australia building approvals (Aug.), ANZ job ads (Sept.), NZIER Quarterly Survey of Business Opinion, NZ house prices (Sept.)