The Aussie market is poised to open higher later this morning after a mixed performance on Wall Street overnight and despite nervousness and volatile trade after Turkish jets shot down a Russian warplane near the Syrian border.
The December SPI futures contract is currently up 20 points at 5,250.
In local economic news today, Reserve Bank of Australia assistant governor for financial markets Guy Debelle is slated to speak in London.
The Australia Bureau of Statistics releases September quarter figures for construction work done.
The Standard & Poor analyst panel Q&A of local banking sector is on in Sydney.
In the equities space, Australian Ag Company is expected to post half year results while Aristocrat Leisure, Goodman Group, Beach Energy and Phylogica have their annual general meetings.
– SPI futures up 15 points at 5245
– AUD at 72.44 US cents, 88.65 Japanese yen, 67.99 Euro cents and 48.01 British pence
– On Wall St, late, S&P 500 +0.2%, Dow +0.3%, Nasdaq flat
– In Europe, Stoxx 50 -1%, FTSE -0.5%, CAC -1.4%, DAX -1.4%
– Spot gold up 0.6% to $US1075.52/oz
– Brent crude adds 2.4% to $US45.90/bbl
– Iron ore slides 1.9% to $US43.89/tonne
What’s on today:
Australia construction work done; Bank of Japan minutes; UK speech by RBA assistant governor Guy Debelle speech at the FX Week Europe in London; US durable goods, new home sales
Stocks in focus:
Woodside Petroleum hosted a site tour of the Karratha and Pluto onshore gas plants and a meeting with senior management in Perth. On an integrated basis, these two assets alone underpin around 80 per cent of Macquarie’s risked enterprise valuation for WPL. Macquarie Wealth Management has a $32 a share price target on the stock and a “neutral” recommendation. “With WPL apparently not ready to call an end to its pursuit of Oil Search just yet and with a higher price required to engage the OSH board and/or shareholders, there is growing concern that WPL could depart from the capital discipline it has exhibited in the past.”