This morning is shaping up to be a horror show for the Aussie market, following significant falls on international markets on Friday night amid further fears over China’s economy and a Greek exit from the eurozone.
Adding insult to injury, the Dow Jones futures are down a further 85 points at time of writing, meaning our market is poised to open around 145 points (-2.8%) weaker.
In economic news today, the Reserve Bank of Australia is due to release a research discussion paper called Housing Wealth Effects: Cross-sectional Evidence from New Vehicle Registrations.
In equities news, Fortescue Metals, BlueScope Steel, Hills, NIB, Lend Lease, UGL and Beach Energy are among the companies reporting full year results while Caltex Australia, Patties Foods and APN Outdoor are among the companies due announce half year results.
SPI down 145 points at 5023
AUD at 72.96 US cents
Dow Jones -3.12%, S&P500 -3.19%, Nasdaq -3.52%
FTSE100 -2.83%, CAC -3.19%, DAX -2.95%
Spot gold up 0.8% at $US1160.95 an ounce
Brent oil down 2.5% at $US45.46 a barrel
Iron ore up 0.5% at $US56.10 per tonne