The Aussie market is poised for a flat start later this morning, following a mixed lead from Wall Street overnight where the Dow was dragged lower on a disappointing Procter & Gamble earnings report.
The September SPI futures contract is up just three points, at 5617.
In local economic news today, the Reserve Bank of Australia is due to release financial aggregates for June while the Housing Industry Association trades report for the March quarter is also due out.
In equities news, Origin Energy and Paladin Energy June are expected to release quarterly production results while Resmed is slated to release full year results.
Meanwhile, the Federal court ruling on whether banks should disclose the level of carbon emissions they finance is expected. In Australia, the market on Thursday higher after a bounce in the iron ore price.
– SPI futures up 3pts at 5617
– AUD at 72.90 US cents
– On Wall St, S&P 500 flat, Dow flat, Nasdaq +0.3%
– In Europe, Stoxx 50 +0.2%, FTSE 0.6%, CAC +0.6%, DAX +0.4%
– Spot gold down $US8.00 or 0.7% to $US1088.85 an ounce
– Brent crude down 11 US cents or 0.2% to $US53.27 a barrel
What’s on today:
Australia producer price indexes, private sector credit; Canada GDP; Japan CPI
Stocks in focus
Air New Zealand’s shares have underperformed relative to Qantas Airways amid fears it faces increasing competition on some of its most profitable routes.