Aust stocks set to open lower

Local market tipped to begin in the red despite receding fears over Syria strike.

The Australian stock market looks set to open lower despite gains on Wall Street which rose as fears of an imminent strike against Syria receded.

An upgrade to US second-quarter economic growth, also helped US markets. It came in at an annual rate of 2.5%, faster than the original estimate of 1.7%.

At 0645 AEST on Friday, the September share price index futures contract was down nine points at 5,067.

In economic news on Friday, the Reserve Bank of Australia is due to release financial aggregates data.

In equities news, Virgin Australia (VAH), Harvey Norman (HVN) and Gindalbie Metals (GBB) are expected to release full-year results.

In Australia, the market on Thursday finished higher, but activity remains overshadowed by concerns about the Syrian conflict.

The benchmark S&P/ASX200 index was up 5.2 points, or 0.1%, at 5,092.4 points.

The broader All Ordinaries index was up 5.1 points, or 0.1%, at 5,083.1 points.

InvestSMART FORUM: Come and meet the team

We're loading up the van and going on tour from April to June, with events on the NSW central & north coast, the QLD mid-north coast and in Perth, Adelaide, Melbourne, Sydney and Canberra. Come and meet the team and take home simple strategies that you can use to build an investment portfolio to weather any storm. Book your spot here.

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