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Australian market preview

Sydney Morning Herald    September 18, 2012

The Australian market looks set to open flat despite falls on Wall Street overnight as euphoria over the Federal Reserve's new QE3 stimulus fade amid concerns about weakness in US manufacturing and anti-American unrest in the Middle East.

At 0645 AEST on Tuesday, the September share price index futures contract was unchanged at 4,398.

In economic news on Tuesday, the Australian Bureau of Statistics (ABS) releases August merchandise import figures, Reserve Bank of Australia (RBA) assistant governor (Financial Markets) Guy Debelle is scheduled to speak at a FINSIA, CEDA and ICAA Luncheon, in Adelaide, while the RBA is expected to release the minutes of its September board meeting.

In equities news, New Hope Corp is due to post full year earnings, Alesco has its AGM slated and the Mirvac (Domaine Steel) and Nathan Tinkler (Ocean Street Holdings) matter is due to be on in the Supreme Court.

In Australia, the market on Monday closed at its highest level since May, as investors were encouraged by separate moves to stimulate the US economy and keep the bailout of the debt-ridden euro zone on track.

The benchmark S&P/ASX200 index rose 12.5 points, or 0.28 per cent, to 4,402.5 points, while the broader All Ordinaries index lifted 11.6 points, or 0.26 per cent, to 4,421.8 points.

Last modified onMonday, 17 March 2014 05:22

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