Despite some solid leads from Friday night’s action, the Aussie market is slightly weaker so far today.
The XJO is presently a handful of points underwater, holding around 4360.
Most sectors are in the red, with energy, healthcare and consumer discretionary plays the weakest links.
Conversely, telcos and financials are the strongest performers.
In economic news Australia’s producer price index fell by 0.3% in the March quarter, taking the annual figure to 1.4%, according to the Australian Bureau of Statistics.
Economists had tipped first-quarter PPI to rise 0.5% and 2.2% for the year.
It was the first drop in more two years, adding to the case for a rate cut when the RBA meets next week.
In company news, Spotless group is up more than 2% after the company said that it is still in talks with Private Equity Partner about a possible takeover.
Elsewhere, Biota Holding has dropped close to 9% after announcing that it plans to merge with Nabi Biopharmaceuticals to form a combined company to be listed on Nasdaq.
Around the region, Asian markets are mainly weaker; the Hang Seng is off 0.5% whilst the Nikkei is down 0.3%.