The Australian share market looks set to open higher following strong gains on Wall Street helped by solid corporate earnings in Europe, progress on Greek debt talks and Japan’s renewed pledge it was prepared to weaken the yen.
The SPI is up 28 points, at 5361.
Locally, in economic news, the Australian Bureau of Statistics is due to release housing finance data for March and the Westpac/Melbourne Institute Survey of Consumer Sentiment is also due out.
In equities news, CSR is slated to post full-year results, Paladin Energy is due to give a quarterly update and hold an investor briefing, while APN News and Media has its annual general meeting in Sydney.
- The SPI is up 28 points, at 5361
- AUD at 73.64 US cents, 80.48 Japanese yen, 64.77 Euro cents and 50.99 British pence
- On Wall St, Dow +1.3%, S&P 500 +1.3%, Nasdaq +1.3%
- In Europe, Stoxx 50 +0.8%, FTSE +0.7%, CAC +0.4%, DAX +0.7%
- In London, BHP +2.7%, Rio +1.9%
- Spot gold +0.2% to $US1266.33 ounce at 3.56pm New York time
- Brent crude +4.6% to $US45.62 barrel at 3.31pm New York time
What’s on today
Local data: Home loans March, investment lending for homes March, NZ business PMI April, NZ food price index April
Local earnings: CSR full year results
Foreign ministers of Russia, Ukraine, Germany and France meet in Berlin to revive momentum on a peace plan for eastern Ukraine – Brazil’s lower house of Congress votes on the impeachment of President Dilma Rousseff – The World Economic Forum on Africa starts in Kigali, Rwanda – UK Chancellor of the Exchequer George Osborne is questioned by the House of Commons Treasury Committee about a report predicting “permanent damage” to the economy in the event of a vote to leave the European Union on June 23 – Jefferies hosts its Global Technology, Media and Telecom Conference through May 12 in Miami -US Energy Information Administration Administrator Adam Sieminski presents the agency’s International Energy Outlook for 2016 at the Center for Strategic and International Studies in Washington
Overseas data: South Korea jobless April; Portugal inflation April and jobless first quarter; UK industrial output March, US budget statement April
Earnings: CA, Macy’s, Deutsche Post, Alstom, Bilfinger, TUI, Vivendi