The Australian market will open lower later this morning, after oil slumped sharply and U.S. stocks closed mostly weaker.
The S&P 500 and Dow industrials closed slightly lower, but the Nasdaq Composite finished in positive territory, supported by technology companies.
The SPI is down 24 point, at 5168.
Ratings agency Standard & Poor’s will hold a webcast briefing on its new Australian credit rating outlook.
In equities, mining giant BHP Billiton will provide an update on the Olympic Dam mine.
- SPI futures down 24 points or 0.4% to 5168
- AUD -0.5% to 74.81 US cents, 75.40 Japanese yen, 67.66 Euro cents and 58.00 British pence
- On Wall St, Dow -0.1%, S&P 500 -0.1%, Nasdaq +0.4%
- In Europe, Stoxx 50 +0.7%, FTSE +1.1%, CAC +0.8%, DAX +0.5%
- Spot gold -0.3% to $US1360.155 an ounce
- Brent crude -4.9% to $US46.44 a barrel
- Iron ore -1.% to $US55.07 per tonne
What’s on today:
S&P to explain Australia ratings downgrade; Sovereign rating updates: European Union (Moody’s), Germany (S&P), Netherlands (Moody’s), Switzerland (Moody’s), UK (DBRS).
Stocks in focus:
Citi lifts Boral to ‘buy’ from ‘netural’ with a $6.80 target price.
Morgan Stanley lists CIMIC as ‘underweight’ with price target of $12.40.
QBE Insurance is a ‘buy’, according to Morgan Stanley with a target of $12.
Citi initiated coverage of WiseTech Global with a ‘buy’ and a price target of $5.52