The Aussie market looks set to open lower later this morning, following lifts on Wall Street but falls on European markets overnight.
Traders were keenly awaiting the next move in Greece’s debt crisis.
The June SPI futures contract is down 31 points, at 5366.
In local economic news today, the Reserve Bank of Australia releases the index of commodity prices and the Australian Bureau of Statistics posts building approvals figures, both for May.
The RP Data Core Logic Home Value Index and the Australian Industry Group’s performance of manufacturing (PMI) index, both for May, are due out.
In equities news, search website operator Mitula Group is expected to list on ASX.
– SPI futures down 31pts at 5367
– AUD at 77.07 US cents, 94.41 Japanese yen, 69.22 Euro cents, 49.10 British pence
– On Wall St, S&P 500 +0.3%, Dow +0.1%, Nasdaq +0.6%
– In Europe, Stoxx 50 -1.3%, FTSE -1.5%, CAC -1.6%, DAX -1.3%
– Iron ore tumbles 3.2% to $US59.35 per tonne
– Spot gold down $US7.35 or 0.6% to $US1172.48 an ounce
– Brent crude up $US1.46 or 2.4% to $US63.47 a barrel
What’s on today:
May building approvals, US May construction spending, US June automobile sales, US June ISM manufacturing report, Bank of Japan second-quarter Tankan report, deadline for Greece to make payment to IMF. Euro-area manufacturing PMI for June, UK manufacturing PMI for June, German federal budget, China official PMI for June.
Stocks in focus:
Rio Tinto shares fell 2.9 per cent to 2614 pence at the close in London on Tuesday, the biggest one-day drop since March 5, while BHP slid 4 per cent in London.
UBS has a “neutral” rating on Brambles and a $10.92 target price. “A material improvement is required for Brambles to meet its targets.”
Credit Suisse has an “outperform” rating on Tabcorp Holdings and a $4.70 target price.