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Australian stocks to open flat

The share market has lost ground as almost all sectors posted falls

The Australian share market is expected to open flat after Wall Street pared back earlier gains to end only slightly higher, and most base metals prices fell.

At 0700 AEST on Tuesday, the Australian share price futures index was flat at 6,122 points.

In the US, stocks ended a choppy session slightly higher as weakness in defensive stocks offset optimism following US President Donald Trump's conciliatory remarks toward China's ZTE Corp that calmed the waters of US-China trade tensions..

The Dow Jones index closed 0.27 per cent higher, the S&P 500 gained only 0.01 per cent, and the Nasdaq Composite added 0.11 per cent.

The Australian share market on Monday closed higher, with gains in the resource and healthcare sectors overshadowing a hefty fall in Telstra shares to an almost seven-year low.

The benchmark S&P/ASX200 was up 19.1 points, or 0.31 per cent, at 6,135.3 points, while the broader All Ordinaries index was up 18.6 points, or 0.30 per cent, to 6,235 points

In economics news on Tuesday, the Reserve Bank releases minutes of its May monetary policy meeting, the Australian Bureau of Statistics releases lending finance figures for March, and the results of the ANZ-Roy Morgan weekly consumer confidence survey are due out.

In equities news, global toll roads operator Macquarie Atlas Roads hold its annual general meeting in Sydney, and agribusiness Ruralco releases its half year earnings results.

On Tuesday morning the Australian dollar is lower, after Wall Street's late fall.

At 0700 AEST, the local currency was worth 75.26 US cents, from 75.47 US cents on Monday.


One Australian dollar buys:

* 75.26 US cents, from 75.47 on Monday

* 82.53 Japanese yen, from 82.63 yen

* 63.10 euro cents, from 63.13 euro cents

* 55.51 British pence, from 55.70 pence

* 108.88 NZ cents, from 108.67 cents


The spot price of gold in Sydney at 0700 AEST was $US1,313.32 per fine ounce, from $US1,319.08 per fine ounce on Monday.


* CGS 5.75 per cent May 2021, 2.1488pct, unchanged from Monday

* CGS 2.25pct May 2028, 2.7726pct, unchanged

Sydney Futures Exchange prices:

* June 2018 10-year bond futures contract was 97.170 (implying a yield of 2.830pct), from 97.215 (2.785pct) on Monday

* June 2018 3-year bond futures contract was 97.770 (2.230pct), from 97.810 (2.190pct)

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