The Aussie market is poised to open slightly higher this morning despite Wall Street falling overnight after data showed the feeblest Chinese factory activity in more than six years.
The SPI futures contract is up 15 points at 5010.
In economic newstoday, Reserve Bank head of economic analysis, Alex Heath, gives a speech at an Urban Development Institute of Australia (WA Division Incorporated) lunch in Perth.
In equities news, Brickworks is expected to post full year results, while Suncorp has its annual general meeting.
Key numbers:
– SPI futures up 15pts to 5010
– AUD at 69.95 US cents, 84.10 Japanese yen, 62.50 Euro cents and 45.87 British pence
– On Wall St, S&P 500 -0.2%, Dow -0.3pc, Nasdaq flat
– In Europe, Stoxx 50 +0.1%, FTSE +1.6%, CAC +0.1%, DAX +0.4%
– Spot gold up $US5.47 or 0.5% to $US1130.23 an ounce
– Iron ore falls 1.6% to $US55.30 a tonne
– Brent crude down $US1.24 or 5.3% to $US47.84 a barrel
What’s on today:
Australia June quarter finance and wealth, Speech by US Federal Reserve chair Janet Yellen, US August durable goods, US August new home sales, US weekly jobless claims.
Stocks in focus:
BHP Billiton will ask Australian shareholders to effectively sacrifice some of the company’s franking credits to allow it to meet its dividend requirements to its British shareholders.
UBS has upgraded Mainfreight (MFT) to a ‘buy’ from neutral and has a $NZ16.65 target price.
UBS has a ‘buy’ rating on Premier Investment (PMV) and a $14.05 target price.
The post Morning market update 24 September, 2015 appeared first on Market Pulse.