The Aussie market is poised to open lower following negative leads on Wall Street overnight as oil prices slipped and weak Chinese data rekindled fears of a global economic slowdown.
The SPI is down 15 points at 5,096.
In local economic news today, the Australian Bureau of Statistics’ housing finance data for January is due out as is the Westpac/Melbourne Institute Survey of Consumer Sentiment.
The two-day Global Iron Ore and Steel Forecast conference wraps up in Perth.
Meanwhile, the Federal Court has a case management conference in Foxtel’s anti-piracy legal action is on in Sydney.
In equities news, CUA is expected to release half year results.
- SPI futures down 15 pts or 0.3% at 5096 at 7am Sydney time
- AUD -0.2% at 74.54 US cents, 83.79 Japanese yen, 67.61 Euro cents and 52.37 British pence.
- On Wall St, at about 3pm, Dow -0.5%, S&P -0.8%, Nasdaq -0.9%
- In Europe, Stoxx 50 -0.6%, FTSE -0.9%, CAC -0.9%, DAX -0.9%
- In London, Rio -9.4%, BHP -8.5%
- Spot gold -0.3% to $US1263.53 at 3.05pm New York time
- Brent crude -3% to $US39.60 at 2.40pm New York time
- Iron ore down 0.2% to $US63.63
What’s on today
Local data: Westpac-MI consumer sentiment, ABS housing finance, NZ card spending
Overseas data: US MBA mortgage applications (weekly), US wholesale inventories (Jan.), World Agricultural and Demand Estimate WASDE report (Feb.), UK industrial production (Jan.), UK manufacturing production (Jan.), UK NIESR GDP estimate (Feb.).
Overseas earnings: Square, Box, FuelCell Energy, Cathay Pacific Airways, Adecco, Deutsche Post, E.ON, Prudential, Casino Guichard-Perrachon.
Syria peace talks are set to resume in Geneva; Norway’s sovereign wealth fund releases a report on its investments in 2015; Central banks: Canada rate decision, Malaysia rate decision, Georgia rate decision.
Stocks in focus
Shares in Rio Tinto shed 9.4% and BHP Billiton 8.5% in London as the sharp rally in commodities ran out of steam.