Australian shares look set to open higher later this morning, after international markets gained overnight amid respite from volatile Chinese markets, which are closed for a military holiday until Monday.
The September SPI share price index futures contractis up 23 points, at 5027.
In local economic news today, the Australian Bureau of Statistics releases July’s overseas arrivals and departure figures.
And, the ING releases its report for women in financial services.
Meanwhile, the three-day Africa Down Under Conference wraps up in Perth.
– SPI futures up 23 points at 5027
– AUD at 70.09 US cents, 84.02 Japanese yen, 63.01 Euro cents and 45.94 British pence
– On Wall St, S&P 500 +0.1%, Dow +0.1%, Nasdaq -0.4%
– US markets will be closed on Monday for a holiday
– In Europe, Stoxx 50+2.2%, FTSE +1.8%, CAC +2.2%, DAX +2.7%
– In London, BHP Billiton +4.3%, Rio Tinto +3.3%
– Spot gold down $US8.49, or 0.8% to $US1125.56 an ounce
– Brent crude up 28 US cents, or 0.6% to $US50.78 a barrel
– Iron ore slips 0.4% to $US56.50 per tonne
What’s on today:
Australia tourist arrivals; Germany factory orders; France consumer confidence; Canada unemployment; US non-farm payrolls.
Stocks in focus:
Citi raised IOOF to “buy” from “neutral” with a price target at $10, up from $9.80 a share. “Marking to market our FuMA forecasts we lower our EPS: FY16E: -2 per cent, FY17E: -3 per cent. The stock now offers an attractive yield and reasonable EPS growth profile and, if there is no additional fallout from the recent spate of issues surrounding the company’s reporting and compliance framework, we believe the stock should perform reasonably well.”
Trading ex dividend today: APN Outdoor, Adacel Technologies, Blackmores, Caltex Australia, Canterbury Surrey Hills, Cardno, MMA Offshore, Oil Search, Phileo Australia, Ramsay Health Care, Saunders International, Service Stream, SpeedCast International