The Australian stock market is tipped to open the session lower after falls in overseas commodity prices.
Wall Street and Europeans markets pulled back on gains but it was the falls in gold, oil and metals that could lead to a sell-off on the ASX.
US economic news
Retail sales fell 0.4 per cent in March, while February's strong gain was revised down slightly.
Another report showed consumer sentiment fell to a nine-month low.
Figures
Wall Street closed slightly lower on Friday: The Dow Jones Industrial Average lost 0.08 points to close at 14,865, the S&P500 lost 5 points to close at 1,589 and the Nasdaq lost 5 points to close at 3,295.
European markets closed lower: London’s FTSE lost 32 points, Paris lost 46 points and Frankfurt lost 127 points.
Asian markets were also down: Hong Kong’s Hang Seng lost 12 points, Tokyo’s Nikkei was down by 64 and China’s Shanghai Composite lost 13 points.
The Australian share market has closed the week higher on Friday. The S&P/ASX 200 index added 6 points extending the weekly gain of 122 points to finish at 5,014.
On the futures market the SPI is 19 points down.
Currencies
The Australian Dollar at 7:20AM was buying $US1.05 cents, 68.54 Pence Sterling, 103.35 Yen and 80.19 Euro cents.
Economic news
Due out today from the Australian Bureau of Statistics is the housing finance figures for February.
Company news
Leighton Holdings Limited
(ASX:LEI) has given chief financial officer Peter Gregg the additional role of deputy chief executive. The international contractor says Mr Gregg will focus on improving the structure, operations and financial position of Leighton's Australian-based contracting subsidiaries: Thiess, Leighton Contractors and John Holland. Shares in Leighton Holdings Limited
(ASX:LEI) were 78 cents lower at $19.52 on Friday.
APA Group
(ASX:APA) is selling the Moomba-to-Adelaide gas pipeline system to QIC Global Infrastructure for just over $400 million. APA said the pipeline system was sold as a complete operational business. The deal is expected to be finalised at the end of April, subject to the ACCC approving QIC as the purchaser of the pipeline system. APA stapled securities were five cents higher at $6.17
Ex-dividends Alacer Gold Corp
(ASX:AQG) with an 22.85 cent unfranked dividend
Countplus Limited
(ASX:CUP) with a 3 cent fully franked dividend
Magellan Flagship Fund Limited
(ASX:MFF) with a 1 cent unfranked dividend
Premier Investments Limited
(ASX:PMV) with a 19 cent fully franked dividend
Gold is down $63.50 to $US1,501 an ounce for the June contract on Comex. Silver is down $1.37 to $26.33 for May. Copper is down $0.07 at $3.35 a pound. Oil is down $2.22 at US$91.29 a barrel for May light crude in New York.
