- Join the Markets Live blog from 9.30am
The Australian sharemarket is expected to open higher after US stocks ignored the release of disappointing Chinese trade data and ended last week positively.
On the ASX24, the SPI futures index was 17 points higher to 4272. The Australian dollar was recently buying $US1.055, up from a one-week low late on Friday of $US1.0511. It was also buying 85,86 euro cents, 67.3 euro cents and 82.57 yen.
Earnings season continues this week with a number of high-profile companies scheduled to report, including NAB, Westpac, Commonwealth Bank, Westfield, Wesfarmers and AMP. For a full list of the companies due to report this week, click here.
Making news today
In economics news:
- Australian Bureau of Statistics (ABS) lending finance for June
In company news:
- The following companies report full-year results: Downer EDI, Newcrest Mining, UGL, GPT Group, Carsales.com
- James Hardie Industries Q1 results and annual general meeting
- Alacer Gold Q2 results
- Infratil annual general meeting
- Q3 Holdings general meeting
Making news this week:
- Tuesday: NAB business conditions for July, NAB Q3 trading results, Westpac Q3 trading results, Echo Entertainment full-year results, Goodman Fielder full-year results
- Wednesday: ABS labour price index for Q2, Westpac consumer confidence, Commonwealth Bank full-year results, Westfield Group full-year results, OZ Minerals first-half results
- Thursday: ABS average weekly earnings for three months to May, Westpac Westpac/Melbourne Institute Survey of Consumer Sentiment, Brambles full-year results, Wesfarmers full-year results, AMP half year results
- Friday: ANZ Q3 trading statement, Spotless Group full-year results, QBE first-half results
How we fared last week
Australian shares ended the week on a negative note after the RBA's bullish revision of its 2012 growth forecast was overshadowed by China's weak trade data.
At the close, the benchmark S&P/ASX200 index was down 31 points, or 0.7 per cent, at 4277.3, while the broader All Ordinaries index was down 27.3 points, or 0.6 per cent, at 4302.8. For the week, the ASX200 added 1.3 per cent, marking its fourth consecutive week of gains.
BusinessDay with agencies