Here at home, all eyes will be on the mid-week inflation figures being released by the Australian Bureau of Statistics.
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“We’ve got to put it down as a disappointing performance”.
Australian shares ended little changed today as concerns about the global economy undercut early buying momentum spurred by key trading partner China’s latest cut in interest rates. Banks and mining stocks are among the leading gainers.
The Commonwealth Bank of Australia is up 0.43 percent, Westpac rose 0.7 percent, ANZ lifted 0.62 percent while the National Australia Bank gained 0.69 percent. BHP Billiton was up 0.7 percent and Rio Tinto added 1 percent.
The Australian dollar moved within a narrow range as traders waited for an insight into the health of the USA economy from upcoming manufacturing and private sector services activity data, ThinkForex senior markets analyst Matt Simpson said.
Elsewhere, Network Ten was in a trading halt ahead of what is likely to be the entitlement offer that will give Foxtel a 15 per cent stake in the company.
The broadcaster also reported a full year loss of $312.2 million on the back of a big writedown in the value of its television licence.
Supermarket operator Woolworths stepped forward three cents to $27.84.
At 17:00 AEDT on Monday, the currency was trading at 72.53 U.S. cents, down from 72.55 cents on Friday.
At the close on Friday, the benchmark S&P/ASX200 index was 87.8 points, or 1.67 per cent, higher at 5,351.6, while the broader All Ordinaries index was up 88.5 points, or 1.67 per cent, at 5,388.1.
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On the ASX 24, the December share price index futures contract was one point higher at 5,334, with 20,857 contracts traded. Gold was flat at $1,164.18 an ounce.
