The Australian stock market looks set to open higher later this morning, following strong gains on Wall Street overnight.
The June SPI futures contract is up 39 points, at 5726.
The SP 500 in the US rose to a fresh record close, led by strong gains in Apple, Facebook and other technology stocks.
Today the Australian Bureau of Statistics will release lending finance figures for March.
In equities news, Paladin Energy issues a trading update and Oil Search holds its annual general meeting in Port Moresby.
Key numbers:
– SPI futures up 39pts to 5726
– AUD at 80.80 US cents, 96.31 Japanese yen, 70.81 Euro cents and 51.27 British pence
– On Wall St, S&P 500 +1.1%, Dow +1.1%, Nasdaq +1.4%
– In Europe, Stoxx 50 +1.4%, FTSE +0.3%, CAC +1.4%, DAX +1.8%
– Spot gold up $US5.57 or 0.5% to $US1221.32 an ounce
– Iron ore slips 0.5% to $US62.30 per tonne
– Brent crude down 22 cents or 0.3% to $US66.59 a barrel
What’s on today
Australia lending finance; US consumer sentiment, capital flows.
Stocks in focus
RBC Capital Markets has a “sector perform” on Santos and a price target of $9 a share, up from $8.50 previously.
Myer is rated an “underperform” at Macquarie Wealth Management with a price target at $1.40 and Deutsche Bank rates the retailer a “sell” with a price target at $1.10. Deutsche Bank notes that Myer has suggested its strategic review is “progressing well” and more detail will be provided in due course.
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