The Australian market looks set to open flat later this morning after a lacklustre finish on Wall Street overnight where stocks lifted slightly.
The March SPI futures contract is down two points, at 5888.
In local economic news today, the Australian Industry Group/Housing Industry Association releases its performance of construction index (PCI) for February while the HIA trades report for the December quarter is also due out.
No major equities news is expected.
Meanwhile, federal Treasurer Joe Hockey attends the AICD Leaders’ Edge Lunch.
- SPI futures down 2pts at 5888
- AUD at 77.74 US cents, 93.36 Japanese yen, 70.50 Euro cents and 51.02 British pence
- In late trade, S&P 500 +0.1%, Dow +0.1%, Nasdaq +0.3%
- In Europe, Stoxx 50 +1%, FTSE +0.6%, CAC +0.9%, DAX +1%
- Spot gold down 19 US cents to $US1200.15 an ounce
- Brent oil up 14 US cents or 0.23% to $US60.69 per barrel
- Iron ore down 3.57% at $US59.73
What’s on today:
No local data. US non-farm payroll, trade balance.
The following stocks will trade ex dividend today: Academies Australasia, Adacel Technologies, Bell Financial, Hunter Hall, MACA, Nine Entertainment, Oil Search, Royalco Resources, Saunders International, Sonic Healthcare, Sunland Group, Swick Mining, Tabcorp, Treasury Wine Estates.
Stocks to watch:
BC Capital Markets has an “outperform” on SinoGas and Energy Holdings with a target price at 40¢ a share, up from 30¢.
Macquarie Wealth Management is “neutral” on Silver Lake Resources, with a 12-month price target of 22¢ as the “Murchison misadventure continues to take its toll”.
JPMorgan has an “underweight” recommendation on Suncorp Group. It has a price target of $13.90 a share.