The Aussie market is poised to open lower after international markets plummeted overnight as investors fret over global growth concerns.

The SPI is down 35 points at 4,732.

In local economic news today, Reserve Bank of Australia Governor Glenn Stevens is due to appear before the House of Representatives economics committee.

The Australian Bureau of Statistics releases housing finance data and overseas arrivals and departure figures, both for December.

No major equities news is expected, but BHP Billiton Olympic Dam president Jacqui McGill is slated to speak at an American Chamber of Commerce in Australia lunch in Adelaide.

Key Numbers:

• SPI futures down 35 pts to 4732 at about 8.15am Sydney time
• AUD flat at 70.94 US cents, 79.76 Japanese yen, 62.68 Euro cents and 49.03 British pence
• On Wall St, at about 3pm New York time, S&P – 1.3% Dow -1.7%, Nasdaq -0.4%
• In Europe, Stoxx 50 -3.9%, FTSE -2.4%, CAC -4.1%, DAX -2.9%
• In London, Rio -3.4%, BHP -3%
• European banks: SocGen -12.6%, Credit Suisse -8.4%, Barclays -7%, Deutsche -6.1%
• Spot gold +4.7% or $US55.61 higher to $US1252.73 at 2.26pm New York time
• Brent crude -1.8% to $US30.30; US oil -3% to $US26.62 at 2pm New York
• Iron ore drops 1.1% to $US45.25 per tonne

What’s on today

Local earnings: ALE Property, Greenstone, Heron Resources, IVE Group, Mesoblast.

RBA governor Glenn Stevens testimony. Housing finance. Euro GDP fourth quarter, German GDP fourth quarter as well as Portugal and Italy; US retail sales January, import price index January, US business inventories December, US Michigan February consumer sentiment. Pope Francis begins six day visit to Mexico. Earnings: Husky Energy, Coal India, Indian Oil, Bharat Petroleum, Christian Dior, Renault, Commerzbank, ArcelorMittal. NY Fed chief William Dudley speaks

Currencies

Overnight Sweden’s central bank was the latest to signal its ability to steer steady policy was lessening. The Riksbank cut a key rate further into negative territory as it struggles to bolster inflation and check the krona’s appreciation.

The post Morning market update 12 February, 2016 appeared first on Market Pulse.