The Australian market looks set to open higher after strong gains on international markets after Theresa May won the race to succeed David Cameron as British prime minister, alleviating some political uncertainty.

The SPI is up 29 points, trading at 5330.

In economic news, Reserve Bank of Australia's Head of Financial Stability Dr Luci Ellis is slated to deliver the keynote address at the University of Sydney's Banking and Financial Stability conference in Sydney.

Dr Loretta Mester, Federal Reserve Bank of Cleveland's president and CEO is also scheduled to speak.

Meanwhile, the National Australia Bank's monthly business survey for June is due out, as is the Australian Bureau of Statistics's Energy Use, Generation and Environmental Management 2014/15 report and the NZ-Roy Morgan weekly consumer confidence survey.

In equities news, ERA is expected to release its second quarter operating review.

Key Numbers

• The SPI is up 29 points, trading at 5330.
• AUD at US75.35, 77.46 Japanese yen, 68.13 Euro cents and 57.94 British pence
• On Wall St, Dow +0.5%, S&P500 +0.4%, Nasdaq +0.7%
• In Europe, Stoxx 50 +1.7%, FTSE, +1.4%, CAC +1.8%, DAX +2.1%
• Spot gold -0.9% to $US1354 an ounce at 6am Sydney time.
• Brent crude -1.3% to $US46.17 a barrel at 6am Sydney time.
• Iron ore +0.9% to $US55.68 a tonne at 6am Sydney time.

What’s on today

Australia: June NAB Business Survey; the RBA’s Head of Financial Stability is speaking at a Banking and Financial Stability Conference on Tuesday

Abroad: Eurozone Finance Ministers meet Monday-Tuesday; BoE Governor Carney speaks on Financial Stability in Parliament

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