The Aussie market is poised to open little changed later this morning, following a mixed performance on Wall Street overnight amid greater expectations of a December interest rate rise.
The December SPI futures contract is down 7 points at 5,069.
In local economic news today, the Westpac/Melbourne Institute Survey of Consumer Sentiment is due out.
The Mining Safety Conference continues in Perth.
In the equities space, DuluxGroup is expected to post full-year results while Breville Group, Servcorp, Webjet, Computershare, Flight Centre, Fortescue Metals, Navitas and Mount Gibson Iron all have annual general meetings scheduled.
SPI futures down 7pts at 5069
AUD at 70.27 US cents, 86.52 Japanese yen, 65.59 Euro cents and 46.51 British pence
On Wall St, late, Dow flat, S&P 500 flat, Nasdaq -0.4%
In Europe, Stoxx 50 +0.2%, FTSE -0.3%, CAC flat, DAX +0.2%
Spot gold down 0.3% to $US1089.20/ounce
Brent crude up 0.4% to $US47.37/barrel
Iron ore flat at $US48.24/tonne
What’s on today
Australia consumer confidence; Single’s Day in China. China industrial production (Oct); Veterans Day in the US; Bank of England conference: speakers include Mark Carney, Mario Draghi, UK unemployment (Oct).
Earnings: ADT, Macy’s, Carlsbert, Deutsche Post, Pirelli, UniCredit, Henkel.
Stocks in focus
Westpac shares trade ex dividend on Wednesday
Macquarie Wealth Management has an “outperform” on Aurizon Holdings and a price target of $5.69 a share. “Industry coal volumes for October have continued the soft trend seen in 1Q16, with CQCC volumes declining 3.7 per cent (ex Wiggins) and Newcastle down 10 per cent. AZJ network volumes for the 1Q16 indicate ongoing train fleet efficiency. AZJ efficiency gains will continue to come from downsizing the workforce and divesting surplus equipment versus using the assets to haul more coal. Either way, earnings growth and a lift in RoE is expected, particularly in FY17 as momentum builds. It is this element that is attractive. Moreover, recent corporate activity in the sector highlights the potential value in AZJ if the 15 per cent shareholder cap is removed.”
Credit Suisse has an “outperform” on Ridley Corporation. “Our target price increases from $1.40 to $1.55 in line with positive EPS revisions.”