Australian market set to open higher
THE Australian market looks set to open higher, following gains on Wall Street on Friday.
THE Australian market looks set to open higher, following gains on Wall Street on Friday.
On Monday, the June share price index futures contract was up 43 points at 5,645.
Wall Street stocks surged more than one per cent on Friday after new data showed that the US economy added a solid 223,000 jobs in April and the unemployment rate fell to a seven-year low of 5.4 per cent.
Locally on Monday, the National Austraia Bank releases its monthly business survey and in equities news Incitec Pivot half year results are due out.
In Australia, the market on Friday was weaker for a third straight day after the Reserve Bank’s monetary policy statement took the shine off banking stocks and falling crude oil prices belted energy stocks.
The benchmark S&P/ASX200 index was down 11.1 points, or 0.2 per cent, at 5,634.6.
The broader All Ordinaries index was down 9.4 points, or 0.17 per cent, at 5,635.
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