The Aussie market looks set to open more than one per cent lower following slumps on international bourses after weak economic data in China and Europe reignited worries about global growth, while a further drop in oil prices dragged down energy shares.

The SPI is down 60 points, at 5294

In local economic news today, the Australian Industry Group Australian Performance of Services Index (PSI) for April is due for release.

In equities news, QBE, Santos, Sigma Pharmaceuticals, Rio-Tinto-controlled Energy Resources of Australia and GPT Management hold their annual general meetings.

Key numbers:

• SPI futures down 60 points at 5294
• AUD -2.3% at 74.89 US cents
• On Wall St, Dow -0.8%, S&P -0.9%, Nasdaq -1.1%
• In New York, Apple shares up 2%
• In Europe, Stoxx 50 -1.9%, FTSE -0.9%, CAC -1.6%, DAX -1.9%
• In London, Anglo American -12.8%, Glencore -8%, Rio -6.4%, BHP -6.2%
• Spot gold -0.4% to $US1286.59 at 3.34pm New York time
• Brent crude -1.6% to $US45.11 at 3.10pm New York time

What’s on today:

Local data: NZ first quarter unemployment, NZ global dairy trade auction

UK Prime Minister David Cameron is questioned by the House of Commons Liaison Committee about June’s referendum on EU membership.

Fed speaker: Minneapolis Fed president Neel Kashkari in Rochester, Minnesota.

Overseas data: Euro services PMI April; US services ISM April, US ADP private employment April, US trade balance March, US productivity/labor costs 1Q preliminary, US Markit services PMI April final, US factory orders March

Earnings: Rupert Murdoch’s Twenty-First Century Fox, Telsa Motors, Time Warner, Mosaic, Alliant Energy, Noble Energy, Royal Dutch Shell, J Sainsbury, Kraft Heinz, McKesson, MetLife, Transocean, Marathon Oil, Siemens, Deutsche Telekom, Continental, Ferrovial, Societe Generale

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