The Australian market looks set to open lower later this morning, after international markets fell overnight amid concerns over Greece’s debt and its possible exit from the eurozone.
The June SPI futures contract is down 33 points, at 5342.
In local economic news today, Reserve Bank of Australia governor Glenn Stevens is due to speak at a function hosted by Official Monetary and Financial Institutions Forum in London, while back home, the central bank releases financial aggregates for May.
The Housing Industry Association releases May’s new home sales figures and the ANZ-Roy Morgan’s weekly consumer confidence survey is also due out.
– SPI futures down 33pts
– AUD at 76.88 US cents, 94.20 Japanese yen, 68.43 Euro cents and 48.88 British pence
– On Wall St, S&P 500 -2.1%, Dow -2%, Nasdaq -2.4%
– In Europe, Stoxx 50 -4.2%, FTSE -2%, CAC -3.7%, DAX -3.6%
– Spot gold up 7 US cents to $US1179.90 an ounce
– Iron ore falls 1.2% to $US61.29 per tonne.
– Brent crude down $US1.25 or 2% to $US62.01 a barrel
What’s on today:
RBA Governor Glenn Stevens speaks in London, April private sector credit, deadline for Greece to make payments to creditors and reach a deal, deadline for negotiations between world powers and Iran to limit its nuclear capability, US May home prices Case Shiller index, US June consumer confidence, EU euro-area June CPI, UK first-quarter GDP.
Stocks in focus:
UBS has a “buy” rating on Origin Energy (ORG) and a $16.50 target price, up from $15.80.
Credit Suisse has cut its rating on Flight Centre (FLT) to “neutral”, down from “outperform” and a $39 target price down from $47.60.
JPMorgan has an “underweight” rating on Dexus Property Group (DXS) and a $7.54 target price.