The Australian market looks set to open lower after a mixed performance on Wall Street following a bigger-than-expected drop in China’s imports and exports in April pointed to weak demand in the world’s second-biggest economy and weighed on materials stocks.
The SPI is down 16 points, at 5296.
Locally, in economic news, the ANZ-Roy Morgan weekly consumer confidence survey comes out.
In equities news, Incitec Pivot is slated to post half-year results.
- The SPI is down 16 points this morning, at 5296.
- AUD at 73.12 US cents, 79.27 Japanese yen, 64.27 Euro cents and 50.76 British pence
- On Wall St Dow -0.2%, S&P 500 +0.1%, Nasdaq +0.3%
- In Europe, Stoxx 50 +0.7%, FTSE -0.2%, CAC +0.5%, DAX +1.1%
- In London, Anglo -14%, Glencore -9%, Rio -7.9%, BHP -6.1%
- Spot gold -1.9% to $US1264.79 ounce at 1.37pm New York time
- Brent crude -3.2% to $US43.94 barrel at 1.12pm New York time
- Iron ore -5.7% to $US54.99 a tonne
What’s on today
Local data: None, RBNZ governor Graeme Wheeler speech, RBNZ financial stability report
Local earnings: Incitec Pivot
Overseas data: China consumer prices, producer prices April, China new lending, money supply April; German industrial production March, French industrial output March, Italy industrial output March, UK March trade, US wholesale inventories March
Earnings: Norwegian Cruise Line Holdings, Lumber Liquidators, TransDigm Group, Electronic Arts, Allergan, Walt Disney, Sun Life Financial, George Weston, Kinross Gold, Grupo BTG Pactual, Credit Suisse Group, Nokia, ING Groep, thyssenkrupp, Mediaset, Alcatel-Lucent, Mediobanca, Banco Poplare di Milano, easyJet, Poste Italiane, Banco Popolare