The Australian market looks set to open relatively flat later this morning, after US and most European markets were closed for public holidays overnight.
The June SPI futures contract is down just four points, at 5722.
Paris’ leading CAC 40 index ended Monday was down 25.72 points or 0.50 per cent at 5,117.17 points, with trading volumes quite low.
Locally today, the ANZ-Roy Morgan weekly consumer confidence index is released.
– SPI futures down 4 pts at 5722
– AUD at 78.19 US cents, 95.09 Japanese yen, 71.27 Euro cents and 50.58 British pence.
– Wall St was closed for a holiday
– In Europe, London and Frankfurt were closed for holidays
– Elsewhere in Europe, CAC 40 -0.5%
– Spot gold up 61 US cents to $US1206.82 an ounce
– Iron ore jumps 2% to $US61.18 per tonne
– Brent crude up 15 US cents to $US65.52 a barrel
What’s on today:
US durable goods, home prices, consumer confidence, new home sales, Richmond Fed survey.
Stocks in focus:
Fortescue: Chinese-linked companies have made applications to the Foreign Investment Review Board about a potential deal involving Fortescue Metals Group.
Deutsche Bank’s top picks in the gaming industry are Aristocrat Leisure (buy) and Echo Entertainment (buy).
With the exception of Newcrest (sell) and Independence Group (neutral), UBS has ‘buy’ ratings on its entire gold coverage list. UBS recently initiated on Evolution Mining (EVN, Buy), taking its gold coverage to 10 stocks.