Australian shares are set to open up, tracking US stocks. Iron ore and oil fell on China’s economic clouds. Reporting on Tuesday: BHP, Challenger, James Hardie.
Australian shares are poised to open higher, reflecting gains in New York even as iron ore and oil dropped on renewed concerns about China’s outlook. Some weak US data also dented sentiment.Companies expected to report on Tuesday: BHP | Challenger | Goodman Group | James Hardie Q | Life360 | SCA Property | Seven West Media | Sims | Tassal .
A separate survey by the New York Fed showed the “Empire State” index on current business conditions plummeted 42.4 points to a reading of -31.3 this month. A reading below zero signals a contraction in the New York manufacturing sector. Investors await quarterly reports from big retailers this week, with comments from Walmart and Target likely to set the tone for the sector that is facing the brunt of weak demand.The pan-European STOXX 600 rose 0.3 per cent. The benchmark index was trading close to levels needed to recoup all of its June losses.AstraZeneca rose 2.
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