The Aussie market is poised to open little changed later this morning despite gains on Wall Street Friday night.
The December SPI futures contract is currently up five points, at 5269.
Locally, no major economic news is expected today.
In the equities space, Lynas, Flexigroup and Yowie Group have their annual general meetings.
– SPI futures up 5pts at 5269
– AUD at 72.34 US cents, 88.77 Japanese yen, 67.91 Euro cents and 47.59 British pence
– On Wall St, S&P 500 +0.4%, Dow +0.5%, Nasdaq +0.6%
– In Europe, Stoxx 50 +0.1%, FTSE flat, CAC -0.1%, DAX +0.3%
– In London, Rio +0.3%, BHP -0.4%
– Spot gold fell $US4.56 or 0.4% to $US1077.65/oz
– Brent crude up 30 US cents or 0.7% at $US44.48/bbl
– Iron ore slipped 1.2% to $US44.91/tonne
What’s on today
Australia CBA business sales data; China’s two mainland stock exchanges, the Shanghai Stock Exchange and the Shenzhen Stock Exchange, double margin requirements to 100 per cent from 50 per cent beginning today in an effort to curb leveraged wagers and prevent equity-market bubbles; US existing home sales
Stocks in focus
A US judge on Friday dismissed Rio Tinto’s lawsuit accusing rival Vale and others of conspiring to misappropriate its mining rights in the Simandou region in Guinea.
Programmed Maintenance is a “buy” at UBS with a price target at $3.15 compared with $3.10 previously.
Village Roadshow is an “outperform” at Macquarie Wealth Management with a price target of $7.70 a share. “VRL provided colour on recent trading and FY16 expectations at its AGM. We continue to think VRL looks attractive over the coming 12 months as it benefits from a strong CY15 box office and improving tourism outlook. Opportunities in Asia will support growth over the medium-term and may come to fruition earlier than we thought.”