Australia Markets closed

Aust shares look set to open flat


The Australian share market looks set to open flat

The Australian share market looks set to open flat following a mainly negative mood across international markets with investors concerned about US tax reform.

At 0700 AEDT on Monday, the share price futures index was down one point, or 0.02 per cent, at 6,031.

In the US, Europe, Asia equity markets were down, with the exception of China's major bourses, as investors became worried about the future of promised US tax reform including slated corporate tax cuts.

US Senate Republicans released a tax plan on Thursday that differed from a version put forth by the House of Representatives on several key fronts, including putting off corporate tax cuts for a year.

The Dow Jones Industrial Average on Friday fell 0.17 per cent and the S&P 500 slipped 0.09 per cent.

Locally, in economic news on Monday, Reserve Bank of Australia deputy governor Guy Debelle is slated to speak at the UBS Australasia Conference in Sydney.

The Australian Bureau of Statistics is due to release September lending finance data, and the CoreLogic capital city house prices survey for the week just ended is due out.

In equities news, Elders is expected to release its full-year results while Nine Entertainment, Medibank Private, and Breville Group hold their annual general meetings.

The Australian market on Friday closed lower after losses concentrated in mining and energy stocks ended the market's run of recent gains.

The benchmark S&P/ASX200 index fell 20 points, or 0.33 per cent, to 6,029.4 points

The broader All Ordinaries index lost 18.1 points, or 0.3 per cent, to 6,104.3 points.

Meanwhile, the Australian dollar is lower against a US dollar that has weakened on investor concern that pledged US tax cuts may be delayed.

The local currency was trading at 76.61 US cents at 0700 AEDT on Monday, from 76.87 on Friday.


One Australian dollar buys:

* 76.61 US cents, from 76.87 on Friday

* 86.935 Japanese yen, from 87.21 yen

* 65.68 euro cents, from 66.01 euro cents

* 58.07 British pence, from 58.47 pence

* 110.45 NZ cents, from 110.72 cents


The spot price of gold in Sydney at 0700 AEDT was $US1,275.35 per fine ounce, from $US1,284.71 per fine ounce on Friday.


* CGS 4.50 per cent April 2020, 1.853pct, unchanged

* CGS 4.75pct April 2027, 2.549pct, unchanged

Sydney Futures Exchange prices:

* December 2017 10-year bond futures contract at 97.33 (implying a yield of 2.67pct), from 97.365 (implying a yield of 2.635pct) on Friday

* December 2017 3-year bond futures contract at 98.01 (1.99pct), from 98.03 (1.97pct).

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