The Aussie market looks set to open lower later this morning, after US and European markets fell on Friday night amid ongoing concerns about global growth.
The September SPI futures contract is down 68 points, at 5064.
In economic news today, the Commonwealth Bank business sales indicator for August is due out.
No major equities news is expected.
– SPI futures down 68pts to 5064
– AUD at 71.87 US cents, 86.28 Japanese yen, 63.69 Euro cents and 46.25 British pence
– On Wall St, S&P 500 -1.6%, Dow -1.7%, Nasdaq -1.4%
– In Europe, Stoxx 50 -3%, FTSE -1.3%, CAC -2.6%, DAX -3.1%
– Spot gold up $US7.72 or 0.7% to $US1139.23 an ounce
– Iron ore adds 0.6% to $US57.69 per tonne
– Brent crude down $US1.28 or 2.6% to $US47.80 a barrel
What’s on today:
CommBank August business sales index. US August existing home sales
Stocks in focus:
Citi has a ‘neutral’ rating on Seven West Media (SWM) and a $0.85 target price.
UBS has upgraded Rio Tinto (RIO) to a ‘buy’ and has a $61.00 target price.
Credit Suisse has an ‘outperform’ rating on Woodside Petroleum (WPL) and a $34 target price.
Trading ex dividend today:
Seven Group Holdings, MGM Wireless, Drummond Gold, Crowd Mobile.