The Aussie market looks set to open higher later this morning, after the Dow Jones and the S&P 500 rallied and European stocks lifted overnight.
The September SPI futures contract is up 26 points, at 5086.
In economic news today, the Australian Bureau of Statistics’ residential property prices for the June quarter is due out, as is the ANZ-Roy Morgan weekly consumer confidence survey.
ACCI chief Kate Carnell, economist Saul Eslake, Rio Tinto managing director Phil Edmands and BHP head of group tax Jane Michie are slated to be among the panel members at the Tax Reform summit in Sydney.
In equities news, New Hope Coal and TPG Telecom are expected to post full year results.
– SPI futures up 26pts to 5086
– AUD at 71.26 US cents, 85.97 Japanese yen, 63.72 Euro cents and 45.98 British pence
– On Wall St, S&P 500 +0.8%, Dow +0.5%, Nasdaq flat
– In Europe, Stoxx 50 +0.9%, FTSE flat, CAC +1%, DAX +0.3%
– Spot gold flat at $US1133.44 an ounce
– Iron ore slipped 0.7 per cent to $US57.30 a tonne
– Brent crude up $US1.11 or 2.3% to $US48.58 a barrel
What’s on today:
ANZ Roy Morgan weekly consumer sentiment, June quarter home price index. US September Redbook store retail sales, US July home prices, US Richmond Fed September index.
Stocks in focus:
The four major banks will be forced to cut dividends within three years, Citi analysts predict, citing a likely deterioration charges for bad loans.
Deutsche Bank has a ‘hold’ on Woolworths (WOW) and cut its target price to $27.00 target price.
Trading ex dividend today:
Collection House, IOOF Holdings, West Wits Mining.