The Bull

Saturday 25

March, 2017 1:09 AM



Australian shares set to open lower

Australian shares set to open lower

The Australian share market is expected to open lower after a mixed session on Wall Street.

Share |

By AAP 21.03.2017 07:42 AM

The Australian share market is expected to open lower with US stocks mixed, amid investor concerns that US President Donald Trump's plan to cut taxes and boost the economy could take longer than previously expected.

At 0720 AEDT on Tuesday, the share price futures index was down 10 points, or 0.17 per cent, at 5,755.

Earlier, the Dow Jones Industrial Average and S&P 500 were down 0.04 and 0.20 per cent, respectively, while Nasdaq was up 0.01 per cent.

Locally, investors are awaiting first-half financial results from TPG Telecom and Premier Investments as well as the Reserve Bank of Australia's March meeting minutes.

On Monday, the Australian share market closed lower, hurt by retail stocks and negativity from a slightly weaker US market.

The benchmark S&P/ASX200 dropped 20.7 points, or 0.36 per cent to 5,778.9 points, while the All Ordinaries index fell 20.3 points, or 0.35 per cent to 5,820.5 points.

Meanwhile, the Australian dollar is slightly higher against its US counterpart as investors await the release of the Reserve Bank of Australia's March meeting minutes.

At 0720 AEDT on Tuesday, the Australian dollar was worth 77.31 US cents, up fractionally from 77.24 US cents at Monday's close.

Westpac senior market strategist Imre Speizer said the key points of interest from the RBA's meetings minutes release includes their view around housing.

CURRENCY SNAPSHOT AT 0720 AEDT ON TUESDAY

One Australian dollar buys:

* 77.31 US cents, from 77.24 on Monday

* 87.01 Japanese yen, from 86.97 yen

* 71.98 euro cents, from 71.76 euro cents

* 62.58 British pence, from 62.31 pence

* 109.61 New Zealand cents, from 109.55 NZ cents

BOND SNAPSHOT AT 0715 AEDT:

* CGS 5.25 per cent March 2019, 1.801pct, up from 1.795pct on Monday

* CGS 4.25pct April 2026, 2.761, up from 2.755pct on Monday

Sydney Futures Exchange prices:

* June 2017 10-year bond futures contract at 97.960 (implying a yield of 2.040pct), up from 97.135 (2.865pct) on Monday

* June 2017 3-year bond futures contract at 97.150 (2.850pct), down from 97.940 (2.060pct).

(*Currency closes taken at 1700 AEDT previous local session, bond market closes taken at 1630 AEDT previous local session)

Archive
Markets
Index: Points Change Percent

PLEASE SUPPORT OUR SPONSORS, AUSTRALIA'S LEADING BROKERS:



© Copyright The Compare Group Pty Ltd. All rights reserved.