The Aussie market is poised for a flat start to the new trading week, after Wall Street fell on Friday night following a slightly weaker-than-expected jobs report.
The September SPI contract was down just two points at the Saturday morning close, at 5403.
The US added 215,000 jobs in July, below the gain of 229,000 economists had expected.
In local economic news today, the Australian Bureau of Statistics releases June lending finance data.
In equities news, National Australia Bank, Ansell, JB Hi-Fi and Bendigo and Adelaide Bank are among the companies releasing results.
– SPI futures down 2pts at 5403
– AUD at 74.12 US cents, 92.00 Japanese yen, 67.55 Euro cents and 47.83 British pence
– On Wall St, S&P 500 -0.3%, Dow -0.3%, Nasdaq -0.3%
– In Europe, Stoxx 50 -0.8%, FTSE -0.4%, CAC -0.7%, DAX -0.8%
– Spot gold up $US4.70 or 0.4% to $US1094.25 an ounce
– Iron ore slips 0.7% to $US56.40 per tonne
– Brent crude down 94 US cents or 1.9% to $US48.58 a barrel
What’s on today:
Australia lending finance; China reports new local currency lending, aggregate financing and M2 money supply for July – due anytime August 10-15; US labour market conditions
Stocks in focus:
The spectre of rising bad loans, flat dividends and additional equity raisings wiped $27 billion off the value of the big four banks in two days.
Deutsche Bank retains a “buy” on valuation of Slater and Gordon with a target price of $8 a share.