Aust stocks tipped for flat open
The Australian market looks set to open flat after Wall Street finished modestly lower following weak housing figures but European markets rose as traders digested mixed retail sales data out of Britain.
At 0645 AEDT on Monday, the March share price index futures contract was down one point at 5,413.
No major local economic news is expected on Monday.
In equities news, Spark Infrastructure, Boart Longyear and Caltex Australia are expected to post full year results while BlueScope Steel, Beach Energy and Patties Foods are due to release first half results.
In Australia, the market on Friday finished at its highest level in nearly six years, after a week of daily gains.
The benchmark S&P/ASX200 index gained 26.4 points, or 0.49%, to 5,438.7.
The broader All Ordinaries index added 28.1 points, or 0.52%, to 5,449.4.
CommSec chief economist Craig James says earnings season has so far provided very good results and the local market has reacted positively.
"I think we'll get off to a fairly cautious start," Mr James said on Sunday.
"We could see some modest gains at the start of trade, but with a degree of caution as more earnings flow through."
Mr James said overall, businesses appear to be in good shape.
"At the moment Australian companies are largely well run, though some have got to do a bit more work to be able to improve their bottom line, such as Qantas," he said.
Qantas Airways is due to release its half-year results on Thursday, with a heavy loss of around $300 million expected.