Good morning team, Chris Conway your Head of Research here with your First Look.
SPI futures are pointing to a flat open as the global market rally paused overnight.
Shares drifted lower in Europe, paced by banks and miners. Wall Street’s three key benchmarks were little changed to lower as banks and health stocks eased.
Base metals mostly closed down in London. Spot iron ore drifted back towards $US90 a tonne. Oil slipped too.
The Australian dollar, which yesterday broke through a key technical level, has dipped slightly.
What’s on today?
Corporate results/news: ABP, AIA NZ, ANX, ASX, BBN, CCL, ECX, LNK, MPL, MTR, PRU, PRY, STO, VAH, WHC
Local data: Business NZ Mfg PMI Jan prev 54.5, Retail sales volumes Q4 prev 0.9%
Overseas data: UK retail sales January; US leading index January
- SPI down 1 point at 5763
- AUD at US77.00¢
- Dow Jones -0.1%; S&P500 -0.3%; Nasdaq -0.3%
- FTSE100 -0.3%, CAC -0.5%, DAX -0.3%
- Spot gold +0.5% at $US1240.19 an ounce
- Brent oil flat at $US55.78 a barrel
- Iron ore -1.1% at $US90.06 a tonne
What happened overnight?