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Aust stocks to open lower

 

The Australian share market is expected to open lower, after metals prices, and US and European stocks suffered falls in trading at the end of last week.

At 0700 AEST on Monday, the Australian share price futures index was down 15 points, or 0.26 per cent, at 5,833.

In the US, stocks were almost one per cent lower, amid worries about the jump in US bond yields and upcoming earnings reports by major technology stocks.

The Australian share market on Friday closed modestly lower, largely due to losses from heavyweight mining stocks.

The benchmark S&P/ASX200 was down 12.2 points, or 0.21 per cent, at 5,868.8 points, while the broader All Ordinaries index was down 12 points, or 0.2 per cent, at 5,964.4 points,

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

In equities news, property group Mirvac issues its quarterly update.

The Australian dollar on Monday morning is lower, following falls in overseas equities.

At 0700 AEST, the local currency was worth 76.74 US cents, from 77.09 US cents on Friday.

CURRENCY SNAPSHOT AT 0700 AEST:

One Australian dollar buys:

* 76.74 US cents, from 77.09 on Friday

* 82.71 Japanese yen, from 82.91 yen

* 62.51 euro cents, from 63.01 euro cents

* 54.80 British pence, from 54.85 pence

* 106.32 NZ cents, from 106.55 cents

GOLD:

The spot price of gold in Sydney at 0700 AEST was $US1,335.40 per fine ounce, from $US1,344.50 per fine ounce on Friday.

BOND SNAPSHOT AT 0700 AEST:

* CGS 4.50 per cent April 2020, 2.103pct, unchanged from Friday

* CGS 4.75pct April 2027, 2.773pct, unchanged

Sydney Futures Exchange prices:

* June 2018 10-year bond futures contract was 97.135 (implying a yield of 2.865pct), from 97.180 (2.820pct) on Friday

* June 2018 3-year bond futures contract was 97.700 (2.300pct), from 97.730 (2.270pct)

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