The Australian market looks set to open higher later this morning, after a fluctuating Wall Street mostly gained overnight amid speculation the fallout of Greece’s newly-elected anti-austerity party will be contained.
The March SPI futures contract is up 13 points, at 5459.
In local economic news today, the ANZ-Roy Morgan weekly consumer confidence survey and the National Australia Bank’s monthly business survey for December are due out.
No major equities news is expected.
- SPI futures up 13pts at 5459
- AUD at 79.18 US cents, 93.80 Japanese yen, 70.28 Euro cents and 52.52 British pence
- In late trade, S&P 500 +0.1%, Dow flat, Nasdaq +0.2%
- In Europe, Stoxx 50 +0.9%, FTSE +0.3%, CAC +0.7%, DAX +1.4%
- Iron ore fell 4.3% to $US63.54 per metric tonne
- Spot gold down 1% to $US1281.60 an ounce
- Brent oil down 1.1% to $US48.26 per barrel
What’s on today:
NAB December business confidence, US December durable goods, US January consumer confidence, US Federal Reserve meeting, US November home prices, US December new home sales.
Stocks to watch:
RBC Capital Markets has an “outperform” rating on Mineral Deposits and an “outperform” recommendation and a $2.50 target price.
RBC Capital Markets has a “perform” recommendation on Atlas Iron and a $0.35 target price. In a broker’s note, RBC said: “AGO reported a strong operational December quarter with sales above expectations and impressive cost improvement.”