Aussie shares set to drop
The Australian share market is likely to start weaker this morning after a fall on Wall Street overnight, although resource and energy stocks may gain after the price of metals and oil increased.
On the Sydney Futures Exchange this morning, the September share price index contract fell 17 points at 4477 points. The major local indices closed fractionally lower yesterday.
In economics news today, the Australian Office of Financial Management plans to offer on auction $500 million bonds of the March 2019 line.
Financial aggregates data for June are due from the Reserve Bank of Australia.
In companies news, Singapore Telecommunications and Macquarie Group are having their annual general meetings, while Energy Resources of Australia issues full year reports.
Australian Worldwide Exploration, Origin Energy and Paladin Energy posts quarterly results.
Yesterday, the Australian share market ended marginally weaker after a four-day winning streak, despite gains among miners and the banks.
The benchmark S&P/ASX200 index finished 5.8 points or 0.13 per cent lower at 4524.1 points. The broader All Ordinaries index slumped 5.9 points or 0.13 per cent to hit 4536.2 points.