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Aust stocks to open flat

 

The Australian share market is expected to open flat, after a mixed end to the week on Wall Street and gains on European markets.

At 0700 AEST on Monday, the Australian share price futures index was steady at 5,942 points.

In the US on Friday, stocks closed nearly flat as inflation worries and struggling technology and energy stocks were offset by an advance in the consumer discretionary sector led by Amazon.

The Dow Jones Industrial Average was down 0.05 per cent, the broader S&P 500 gained 0.11 per cent, and the Nasdaq added or 0.02 per cent.

The Australian share market on Friday closed comfortably higher, as major financial stocks recovered from early losses to join all other sectors in positive territory.

The benchmark S&P/ASX200 was up 42.8 points, or 0.72 per cent, at 5,953.6 points, while the broader All Ordinaries index was up 39.9 points, or 0.66 per cent, at 6,042.9 points.

In economics news on Monday, CoreLogic releases its weekly capital city house prices report.

In equities news, Origin Energy March releases its quarter production report.

On Monday, the Australian dollar is higher, despite the mixed result on overseas equities markets.

At 0700 AEST, the local currency was worth 75.77 US cents, from 75.47 US cents on Friday.

CURRENCY SNAPSHOT AT 0700 AEST:

One Australian dollar buys:

* 75.77 US cents, from 75.47 on Friday

* 82.65 Japanese yen, from 82.48 yen

* 62.49 euro cents, from 62.42 euro cents

* 55.02 British pence, from 54.21 pence

* 106.98 NZ cents, from 107.01 cents

GOLD:

The spot price of gold in Sydney at 0700 AEST was $US1,323.25 per fine ounce, from $US1,316.33 per fine ounce on Friday.

BOND SNAPSHOT AT 0700 AEST:

* CGS 5.75 per cent May 2021, 2.2205pct, unchanged from Friday

* CGS 2.25pct May 2028, 2.8214pct, unchanged

Sydney Futures Exchange prices:

* June 2018 10-year bond futures contract was 97.185 (implying a yield of 2.815pct), from 97.160 (2.840pct) on Friday

* June 2018 3-year bond futures contract was 97.750 (2.250pct), from 97.735 (2.265pct)

(*Bond market closes taken at 1630 AEST previous local session; currency closes taken from 1700 AEST previous local session)