The Aussie is poised to start the new trading week on a positive note later this morning, after Wall Street posted solid gains on Friday night as a big General Electric asset sale added to the US market’s deal wave.
The June SPI futures contract is up 22 points, at 5975.
GE led the Dow, bolting 10.8% higher after announcing it would sell $US26.5 billion ($A34.46 billion) in real estate assets as part of a plan to pare off most of its GE Capital unit over the next 24 months.
In local economic news today , The World Bank releases it East Asia Pacific region review.
No major equities news is expected but Oz Minerals chief executive Andrew ColePaydirt is slated to speak at the SA Resources Energy Investment Conference in Adelaide.
- SPI futures closed up 22 points to 5975 on Saturday
- AUD at 76.76 US cents, 92.20 Japanese yen, 72.44 Euro cents and 52.44 British pence
- On Wall St, S&P 500 +0.5%, Dow +0.6%, Nasdaq +0..4%
- In Europe, Stoxx 50 +0.9%, FTSE +1.1%, CAC +0.6%, DAX +1.7%
- Iron ore 62% content at Qingdao fell 1.7% to $US47.53 a dry ton
- Spot gold up $US12.79 or 1.1% to $US1207.59 an ounce
- Brent crude up $1.30 or 2.3% to $US57.87 a barrelWhat’s on today:
Australia RBA credit and debit card lending, China March trade surplus
Stocks to watch:
Deutsche Bank has a “buy” rating on Alumina (AWC) and a $2.50 target price.
Credit Suisse has an “underperform” rating on Newcrest Mining (NCM) and raised its target price to $11.50.
UBS has a “sell” recommendation on BC Iron (BCI) and a $0.36 target price.