Shares to open weaker
The Australian share market is expected to open lower today after weak employment growth in the US cause fears about the strength of the world's largest economy.
On the Sydney Futures Exchange, the September share price index contract closed trading on Saturday 30 points down at 4,213. In trading on Friday, the benchmark S&P/ASX200 index barely increased after nine days to end up 1.2 points, or 0.03 per cent, to 4,238.7 points. The broader All Ordinaries index increased 2.2 points, or 0.05 per cent, to 4,264.9.
Shareholders will be looking to CSR to update the bourse on the situation of a bid from China's Bright Food group for its sugar and renewable energy unit.
Bright Food is reported to have offered $1.65 billion for the division, far lower of earlier assessments that the assets would obtain approximately $2 billion.
In economic news, the Australian Industry Group and the Commonwealth Bank are scheduled to release today their Australian Performance of Services Index. TD Securities and the Melbourne Institute will issue their inflation gauge for June.
Meanwhile, the Federal Chamber of Automotive Industries is set to declare new car sales. ANZ Banking Group will announce job advertisements data.
In equities news today, Northern Territory-focused explorer Eclipse Uranium Ltd is set to list on the Australian Securities Exchange.