The Aussie market poised to open little changed following falls on Wall Street overnight amidst possibilities of a December US rate lift.
The December SPI futures contract is up 2 points at 5,219.
In local economic news today, Reserve Bank of Australia governor Glenn Stevens is slated to speak at Melbourne Institute's 2015 Economic and Social Outlook conference while RBA deputy governor Philip Lowe participates in Financial Services Institute of Australasia's (FINSIA) Regulators Panel Discussion in Sydney. National Retail Association chief executive Trevor Evans releases the national spending forecast.
In equities space, Commonwealth Bank is slated to give a first quarter trading update, while Fairfax Media, Ardent Leisure, Boral, Credit Corp and Perpetual have their annual general meetings. Rio Tinto iron ore boss Andrew Harding is scheduled to speak at The West Australian's business breakfast in Perth.
Key Numbers:
SPI futures up 2pts at 5219
AUD at 71.38 US cents, 86.84 Japanese yen, 65.81 Euro cents and 46.49 British pence
On Wall St, late, S&P -0.4%, Dow -0.2%, Nasdaq flat
In Europe, Stoxx 50 flat, FTSE +0.5%, CAC +0.3%, DAX -1%
Spot gold fell $US9.19 or 0.8% to $US1108.60/ounce
Brent crude shed $US1.82 or 3.6% to $US48.72/barrel
Iron ore adds 0.1% to $US49.18 per tonne
What’s on today
RBA governor Glenn Stevens speech at the Melbourne Institute 2015 Economic and Social Outlook conference, deputy governor Philip Lowe on FINSIA Regulators panel discussion, Rio Tinto’s Andrew Harding, the London-based miner’s iron ore chief, will give a speech in Perth; Japan minutes of BOJ meeting; Eurozone retail sales; Germany factory orders; Bank of England interest rates decision
Earnings: Tata Steel, Alstom, Apache, Molson Coors Brewing, Walt Disney, News Corp, Toyota, Melco Crown Entertainment, Credit Agricole, Deutsche Telekom, Societe Generale
Stocks in focus
Hong Kong-listed ENN Energy Holdings has emerged alongside China-backed energy giants Sinopec and CNOOC as a lead contender for a 15 per cent placement understood to be under close consideration by Santos.
Macquarie Wealth Management has an “outperform” on News Corp (NWS) and a price target of $24.12 a share.
Credit Suisse has an “outperform” on CSL and a price target at $95 a share. “We expect US PPTA IG growth to pick up over the course of FY16, with cycling of an easier comparative period. For CSL specifically, we forecast IG revenue growth of about 6 per cent (cc) in FY16F. This is based on improved channel mix within the IVIG portfolio and price increases, offset by lower SCIG sales growth.”
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