Australian Stock Report - Market Pulse

Morning market update - 26 June, 2015

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Publish date: Fri, 26 Jun 2015, 06:31 PM
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Welcome to MarketPulse, the Australian Stock Report's financial market blog. In the MarketPulse blog we aim to provide frequent updates on current events across the financial markets, including market wraps, articles in the news, opinions, reviews, financial education and finally our top tip of the week. The blog is published by the Australian Stock Report research and report editing team together with our very own "Passionate Trader", Carl Capolingua.

The Australian market looks set to open lower later this morning, following losses on Wall Street overnight.

The September SPI futures contract is down six points at 5,556.

US and European stocks lost ground after Greece and its international creditors failed to break the deadlock in emergency talks, raising the prospect of a messy Greek debt default at the end of the month.

Key numbers:

– SPI futures down 4 pts at 5550

– AUD at 77.38 US cents, 95.67 Japanese yen, 69.06 Euro cents and 49.15 British pence

– On Wall St, S&P500 -0.3%, Dow -0.4%, Nasdaq -0.2%

– In Europe, Stoxx 50 flat, FTSE -0.5%, CAC -0.1%, Dax flat

– Iron ore drops 0.5% to $US62.19 per tonne

– Spot gold down $US2.17 to $US1173.23 an ounce

– Brent crude down 20 US cents to $US63.29 a barrel

What’s on today:

Japan May jobless rate, Japan May core CPI, US June consumer sentiment.

Stocks in focus:

Shares in Sandfire Resources have hit a 10-month high in early trading after drilling found copper grades as high as 18.9 per cent.

UBS has a “buy” rating on CSL Ltd (CSL) and a $105.50 target price.

Credit Suisse has a “neutral” rating on Woolworths (WOW) and a $29.75 target price.

The post Morning market update - 26 June, 2015 appeared first on Market Pulse.

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