SYDNEY: The Australian market looks set to open lower after falls on US and European stocks as investors brace for a US interest-rate rise and fret about weak Chinese trade data. At 0645 AEDT on Tuesday, the December share price index futures contract was down 62 points at 5,055.
Locally, in economic news on Tuesday, the National Australia Bank’s monthly business survey for October is due out, as is the Australian Bureau of Statistics’ housing finance data for September.
The Mining safety conference starts in Perth.
In equities news, Incitec Pivot is expected to post results while Asciano has its annual general meeting but an expected vote on Brookfield Infrastructure’s takeover offer has been postponed. Bendigo and Adelaide Bank, Macquarie Radio Network, SurfStitch, Bradken, Prime Media and Shoply also have their annual general meetings.
In Australia, the market on Monday fell nearly two per cent as weaker commodity prices weighed on the resources sector.
The benchmark S&P/ASX200 index was down 95.5 points, or 1.83 per cent, at 5,119.5 points.
The broader All Ordinaries index was down 89.4 points, or 1.7 per cent, at 5,180.3 points.
