The Aussie market looks set to open flat later this morning, after US and European shares fell overnight following disappointing Chinese industrial output figures.
The December SPI futures contract is now up just five points, at 5242.
In local economic news today, the Reserve Bank of Australia releases its monthly board meeting minutes.
Meanwhile, the ANZ-Roy Morgan weekly consumer confidence survey and the Commonwealth Bank business sales indicator for September are due out.
– SPI futures up five points, at 5242 points
– AUD at 72.53 US cents, 86.61 Japanese yen, 64.03 Euro cents and 46.87 British pence
– On Wall St, in late trade, S&P 500 -0.1%, Dow flat, Nasdaq +0.2%
– In Europe, Stoxx 50 +0.2%, FTSE -0.4%, CAC flat, DAX +0.6%
– Spot gold down $US7.89 or 0.7% to $US1169.41/ounce
– Brent crude down $US1.78 or 3.5% to $US48.68/barrel
– Iron ore slips 0.9% to $US53.30/tonne
What’s on today:
Australia Reserve Bank board minutes, Commbank business sales index, imports of goods; US housing starts September, NY Fed chief William Dudley and Fed governor Jerome Powell speak at NY Fed event, IAEA releases nuclear energy report. Earnings: Yahoo, United Technologies, Lockheed Martin, Harley-Davidson, Verizon.
Stocks in focus:
A long-standing BHP Billiton shareholder is against the miner’s new dividend-sharing proposal and expects a vote on it next month will trigger fresh debate on its London listing.
Bell Potter reiterated its “buy” call on Perpetual and raised the price target to $49.50, from $47.30 previously. “We believe there is a significant disconnect in PPT’s current share price and where the business is at, providing near-term opportunity.
Rio Tinto remains Deutsche Bank’s top sector pick on valuation, growth and cash flow. It has a “buy” recommendation on the miner and a target price of $63. Key risks include movements in commodity prices.