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Aust shares look set to open higher

Chris Hutchings

The Australian share market looks set to open higher for a second consecutive day after a third straight positive session on Wall Street, while the Aussie dollar has slipped.

At 0700 AEDT on Wednesday, the share price futures index was up 17 points, or 0.29 per cent, at 5,810.

Market turbulence appears to have abated in US equity markets with Wall Street enjoying its third straight positive session - encouraging Australian share market investors to take on more risk.

In late trading (0721 Wednesday AEDT), the Dow Jones Industrial Average was up 0.18 per cent, the S&P 500 had gained 0.19 per cent, and the Nasdaq Composite had added 0.49 per cent.

Locally, in economic news on Wednesday, the Westpac-Melbourne Institute Index of Consumer Sentiment is due out.

In equities news, Woodside Petroleum, Ridley Corporation, IAG, Domino's Pizza, Orora, Aveo and CSL are expected to release earnings results.

The Australian market on Tuesday closed higher following gains on Wall Street and as several companies reported profit growth.

The benchmark S&P/ASX200 index rose 35.2 points, or 0.6 per cent, to 5,855.9 points.

.The broader All Ordinaries index gained 37.3 points, or 0.6 per cent, to 5,957 points.

Meanwhile, the Australian dollar has slipped against all the key currencies, including a weaker US dollar.

The local currency was trading at 78.57 US cents at 0700 AEDT on Wednesday, from 78.64 on Tuesday.


One Australian dollar buys:

* 78.57 US cents, from 78.64 on Tuesday

* 84.61 Japanese yen, from 85.17 yen

* 63.60 euro cents, from 63.85 euro cents

* 56.61 British pence, from 56.76 pence

* 107.98 NZ cents, from 108.26 cents


The spot price of gold in Sydney at 0700 AEDT was $US1,328.629 per fine ounce, from $US1,326.45 per fine ounce on Tuesday.


* CGS 4.50 per cent April 2020, 1.9828pct, unchanged

* CGS 4.75pct April 2027, 2.8228pct, unchanged

Sydney Futures Exchange prices:

* March 2018 10-year bond futures contract at 97.14 (implying a yield of 2.86pct), from 97.13 (implying a yield of 2.87pct) on Tuesday

* March 2018 3-year bond futures contract at 97.865 (2.135pct), from 97.860 (2.140pct).

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