Australian market looks set to open slightly weaker later this morning, after US and European bourses closed lower overnight on continued global growth concerns and amid the spreading Volkswagen scandal.
The December SPI futures contract is down six points, at 5052.
No major economic is expected on today.
In equities news, Australia Post is expected to release its full-year results.
Meanwhile, Oz Minerals chief executive Andrew Cole is slated to speak at an AICC lunch in Adelaide.
– SPI futures down 6pts at 5052
– AUD at 70.29 US cents, 83.91 Japanese yen, 62.44 Euro cents and 45.92 British pence
– On Wall St, S&P 500 -0.3%, Dow -0.5%, Nasdaq -0.4%
– In Europe, Stoxx 50 -2%, FTSE -1.2%, CAC -1.9%, DAX -1.9%
– Spot gold up 10 US cents to $US1154.05 an ounce
– Brent crude up 55 US cents or 1.2% to $US48.30 a barrel
Iron ore is trading at $US55.30 per tonne.
What’s on today:
US September consumer sentiment, US second-quarter gross domestic product, US second-quarter corporate profits.
Stocks in focus:
Macquarie Wealth Management has an ‘outperform’ rating on BHP Billiton (BHP) and a $31 target price.
UBS has a ‘buy’ rating on Crown Resorts (CWN) and a $15.15 target price.
Macquarie Wealth Management has an ‘outperform’ rating on Sydney Airport (SYD) and a $6.39 target price.
Trading ex dividend today:
Prime Financial Group, Southern Cross Media Group.