The Aussie market is poised to open little changed following a lackluster performance on Wall Street overnight.
The December SPI futures contract is down just two points, at 5254.
In local economic news today, the Australian Bureau of Statistics releases its National Accounts: State Accounts data, while the Commonwealth Bank business sales indicator for October is also due out.
In the equities space, Macquarie Telecom Group, ResMed, AWE, PMP, Slater and Gordon, AV Jennings, Myer, Automotive Holdings, Capilano Honey and Kathmandu have annual general meetings.
– SPI futures down 2pts at 5254
– AUD at 71.88 US cents, 88.37 Japanese yen, 67.01 Euro cents and 47.05 British pence
– On Wall St, late, S&P 500 -0.1%, Dow flat, Nasdaq flat
– In Europe, Stoxx 50 +0.5%, FTSE +0.8%, CAC +0.2%, DAX +1.2%
– Spot gold up $US11.64 or 1.1% to $US1082.37/oz
– Brent crude up 15 US cents or 0.3% to $US44.29/bbl
– Iron ore down 91 US cents or 2% to $US45.44/tonne
What’s on today
Australia state accounts, speech by Alex Heath, RBA head of economic analysis in Canberra. ECB chief Mario Draghi and Bundesbank boss Jens Weidmann to speak in Frankfurt. EU area consumer confidence (Nov). Rating updates on Greece by Moodys, on the Netherlands by S&P.
Stocks in focus
Morgan Stanley remains “overweight” on Myer ahead of its first quarter 2016 sales report. “We expect MYR to deliver 1Q16 LFL and total sales growth of 1.5 per cent and 1.6 per cent, respectively, on Friday when it reports its 1Q16.:
Investment bank Credit Suisse has cut its price target for Telstra and predicted the phone and internet giant will slow the rise of its dividend payments.
Bank of America Merrill Lynch has been mandated to sell two Origin Energy pipelines, while UBS has been hired to run sales for the company’s interests in the Cooper Basin and Perth Basin.