Aust stocks set to open flat

Local market expected to begin little changed as Syria fears weigh on markets.

The Australian stock market looks set to open flat after Wall Street made modest gains but European bourses fell amid nervousness over possible action against Syria.

At 0646 AEST, the September share price index futures contract was down one point at 5,067.

In economic news, the Australian Bureau of Statistics releases private new capital expenditure and expected expenditure data for the June quarter while the HIA posts new home sales figures for July.

In equities news, Qantas Airways (QAN), Ramsay Health Care (RHC), Paladin Energy (PDN) and Perpetual (PPT) are expected to release full year results, while Westfield Group (WDC) posts first half results and David Jones (DJS) announces its fourth quarter sales figures.

Meanwhile, Tabcorp (TAH) chief executive David Attenborough is slated to give a speech to an AMCHAM lunch.

In Australia, the market on Wednesday suffered its steepest one-day fall in three weeks as speculation about a US military strike on Syria hits the big miners.

The benchmark S&P/ASX200 index was down 54 points, or 1.05 per cent, at 5,087.2 points.

The broader All Ordinaries index was down 52.8 points, or 1.03 per cent, at 5,078.0 points.

Want access to our latest research and new buy ideas?

Start a free 15 day trial and gain access to our research, recommendations and market-beating model portfolios.

Sign up for free

Related Articles