Finance news you need to know today

NATIONAL home prices remained flat last week, but the continued drift in Sydney means they dropped on a monthly basis.

THE Australian share market looks set to open slightly higher after Wall Street struggled to make gains, pressured by losses in healthcare and bank stocks. At 0700 AEDT on Tuesday, the share price futures index was up six points, or 0.10 per cent, at 6,087.

Meanwhile, the Australian dollar has regained its early morning slight loss to be unchanged against a slightly stronger US dollar. The local currency was trading at 78.41 US cents at 0700 AEDT on Tuesday, unchanged Monday.

WORLD FINANCE UPDATE:

BERLIN — German Chancellor Angela Merkel’s conservatives and the centre-left Social Democrats (SPD) have agreed to provide income tax relief for high earners, a source said, signalling progress in their talks on forming a coalition government.

LONDON — Colin McLeod has been named general manager of Fox’s channel operations in the UK.

PARIS — Dubai-based Emirates airline has signed a memorandum of understanding with rival carrier Etihad Airways to share information and intelligence, fostering co-operation in aviation security between the two companies.

MONDAY HIGHLIGHTS:

SUNCORP — Suncorp has flagged a cost hit of between $160 million and $170 million in its first-half results, following a flood of insurance claims relating to Melbourne’s hailstorm in December.

CONSTRUCTION AI — Construction growth in Australia moderated slightly in December, but still expanded for an 11th month in a row.

VOCUS — Vocus Group has appointed Bellamy’s chairman John Ho as a non-executive director.

HOUSING PRICES — National home prices remained flat last week, but the continued drift in Sydney means they dropped on a monthly basis.