The Aussie market is poised to open sharply higher later this morning, following gains in the US, UK, Germany and France overnight, despite initial concerns about the economic fallout from Italian Prime Minister Matteo Renzi’s referendum defeat and subsequent resignation.
SPI furtures are up 48 points (+0.9%), at 5451
In local economic news today, the Reserve Bank of Australia is widely expected to keep rates on hold as investors await any commentary on domestic or global economic conditions.
The Australian Bureau of Statistics is expected to release government finance statistics for the September quarter, while Dun and Bradstreet will issue their business expectations survey.
In equities news, no company announcements are scheduled for release. In Australia, the market on Monday closed lower with most sectors in negative territory led by a heavy sell-off among the big four banks.
- SPI up 48 points at 5451
- AUD at US74.86¢
- Dow Jones +0.3%; S&P500 +0.6%; Nasdaq +0.9%
- FTSE100 +0.2%, CAC +1.0%, DAX +1.6%
- Spot gold -0.5% at $US1171.41 an ounce
- Brent oil +0.9% at $US54.95 a barrel
- Iron ore +1.1% at $US78.62 a tonne
What happened overnight?