The Australian share market looks set to open lower following a weak overnight performance in the US and Europe.

The SPI was down 3 points, at 5341.

Locally, there is no economic data of note, although the government will release the Pre-election Economic and Fiscal Outlook (PEFO).

In equities news, Woodside Petroleum has an investor briefing day in Sydney while Sydney Airport holds its annual general meeting, also in Sydney.

Australian Competition and Consumer Commission chairman Rod Sims is slated to speak at an American Chamber of Commerce in Australia lunch in Melbourne.

Key Numbers

• The SPI was down 3 points, at 5341
• AUD -0.1% to 72.19 US cents
• On Wall St, Dow -0.5%, S&P 500 -0.4%, Nasdaq -0.6%
• In Europe, Stoxx 50 -1.3%, FTSE -1.8%, CAC -0.9%, DAX -1.5%
• In London, BHP -3.4%, Rio -2.7%
• Spot gold -0.3% to $1254.75 ounce at 2.35pm New York time
• Brent crude -0.6% to $US48.66 barrel at 2.10pm New York time
• Iron ore -5.8% to $US53.47 a tonne

What’s on today

No local data

Local earnings: Alliance Mineral Assets, Australian Agricultural Co, Minera Gold

German PPI (April), US sales of previously owned homes (April).

Overseas earnings: Campbell Soup, Deere & Co, Cie Financiere Richemont.

Sovereign rating updates: France (Moody’s); Netherlands (S&P), Switzerland (S&P).

The post Morning market update 20 May, 2016 appeared first on Market Pulse.