The Aussie market looks set to open lower later this morning after the OPEC oil cartel decided not to cut output overnight, despite a supply gut and falling crude prices.
The December SPI futures contract is down 17 points, at 5397.
Wall Street was closed for Thanksgiving and European markets were mixed with German’s DAX 30 up 0.60 per cent, Paris’ CAC 40 0.20 per cent higher but London’s FTSE down 100 index 0.09 per cent.
In local economic news today, the Reserve Bank of Australia releases October financial aggregates data.
The FeTech magnetite and iron ore conference continues in Perth.
In equities news, Lynas Corp, Primary Health Care, Metgasco, Regis Resources and Australian Dairy Farms annual general meetings scheduled.
– SPI futures down 17 pts at 5397
– AUD at 85.46 US cents, 100.71 Japanese yen, 68.56 Euro cents and 54.34 British pence
– Wall St closed for Thanksgiving holiday
– In Europe, Euro Stoxx 50 +0.6%, FTSE -0.1%, CAC +0.2%, DAX +0.6%
– Spot gold down 0.6% to $US1190.42 an ounce
– Brent oil down 6.7% to $US72.58 per barrel
– US crude down 6.3% to $US69.05 per barrel
– Iron ore jumps 2.2% to $US69.98 per metric tonne
What’s on today:
Australia Reserve Bank to release financial aggregates for October, private sector credit October; New Zealand building consents, November ANZ business confidence, October private sector credit; China leading index; Japan jobless rate, retail trade, CPI, household spending, industrial production; Euro zone unemployment, CPI; US early close for Thanksgiving.
Stocks to watch:
Rio Tinto investor day
AGMs: Lynas Corp, Primary Health Care, Metgasco, Regis Resources, Australian Dairy Farms
Gas giant BG Group should expect three bids for its $US4 billion-plus Queensland gas pipeline, after heavyweight infrastructure buyer Cheung Kong was a late withdrawal from the auction, the Australian Financial Review reports.
Commonwealth Bank cut Domino’s Pizza to “underweight” from “neutral” and lowered its price target to $23.30 a share from $25.60.