Get 40% Off
🚀 AI-picked stocks soar in May. PRFT is +55%—in just 16 days! Don’t miss June’s top picks.Unlock full list

Australia shares set for flat start on U.S. growth worries

Published 06/06/2016, 09:06 am
Updated 06/06/2016, 09:10 am
© Reuters.  Australia shares set for flat start on U.S. growth worries
AXJO
-
CSL
-
WFD
-

MELBOURNE, June 6 (Reuters) - Australian shares face a cautious start after surprisingly weak U.S. jobs growth in May spooked Wall Street on Friday and sent the U.S. dollar down.

However mining stocks should help shore up the market, as base metals and gold prices rose on the lower dollar.

Local share price index futures YAPcm1 pointed to a flat start after rising just one point to 5,324.0, a 5.1 point premium to the underlying S&P/ASX 200 index .AXJO close. The benchmark rose 0.8 percent on Friday.

The weaker U.S. dollar may weigh on Australia's exporters and those with a large proportion of U.S. earnings, like blood products group CSL CSL.AX and Westfield Corp WFD.AX .

New Zealand was closed for a public holiday.

For a summary of overnight action across global markets, double click on AU/CALL

For a digest of the day's business stories in Australian newspapers, double click on PRESS/AUB

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.