The Aussie market is poised for a flat open to trade later this morning, after US and European markets lost ground overnight amid worries about a potential Greek exit from the euro zone.
The June SPI futures contract is down just one point, at 5732.
The Dow Jones dropped 0.2% and Frankfurt’s DAX 30 index fell 0.8% as the tense stand off between heavily indebted Greece and its creditors hung over a meeting of finance ministers from the Group of Seven nations in Germany.
Locally on Friday, HIA releases its new home sales and the Reserve Bank releases private sector credit data.
– SPI futures down 1pt at 5732
– AUD at 76.45 US cents, 94.84 Japanese yen, 69.87 Euro cents and 49.96 British pence
– On Wall St, S&P 500 -0.1%, Dow -0.2%, Nasdaq -0.2%
– In Europe, Stoxx 50 -0.9%, FTSE +0.1%, CAC -0.9%, DAX -0.8%
– Spot gold rose 23 US cents to $US1188.32 an ounce
– Brent crude rose 67 US cents, or 1.1% to $62.73 a barrel
– Iron ore retreats 1.2% to $US62.30 per tonne
What’s on today:
Australia private sector credit; US consumer sentiment, economic growth.
Stocks in focus:
Citi has a “neutral” recommendation on Adelaide Brighton and a target price at $4.69 from $4.39 previously.
JPMorgan raised the price target on Programmed Maintenance to $2.96, from $2.88 and has an “overweight” recommendation on the stock as Nick Dalton assumes lead coverage of the company.