Outlook: Greek fears look to weigh on ASX

Market Reports

Concerns about Greece’s debt situation look to put pressure on the Australian share market at open. European stocks experienced choppy trade as meeting between finance ministers tried to finalise an agreement with Greek creditors.
With no deal being struck Wall Street tumbled to session lows despite the US first quarter growth rate being upwardly revised. Closer to home the Australian dollar has slipped on the back of that stronger US data but the iron ore price has risen. 
Global markets
Wall Street dropped on Wednesday: The Dow Jones Industrial Average sank 1 per cent to close at 17,966, the S&P 500 shed 0.7 per cent to close at 2,109 and the Nasdaq retreated 0.7 per cent to close at 5,122.
European markets put in a mixed performance on Wednesday: London's FTSE 100 firmed 0.2 per cent, France's CAC 40 fell 0.2 per cent and Germany's DAX retreated 0.6 per cent.
Asian markets lifted on Wednesday: Japan’s Nikkei and Hong Kong’s Hang Seng rose 0.3 per cent while China’s Shanghai Composite jumped 2.5 per cent.
The Australian share market traded mainly in positive territory but closed barely changed yesterday. The S&P/ASX 200 index closed 2.5 points higher at 5,687 on Wednesday. On the futures market the SPI is 9 points lower. 
The Australian dollar at 7:30am was buying $US0.7704, 49.07 Pence Sterling, 95.45 Yen and 68.8 Euro cents.
Economic news due out today 
Australian Bureau of Statistics: Job Vacancies report for the May quarter
Company news
The a2 Milk Company Limited (ASX:A2M, NZE:ATM) has revealed the identity of its mystery bidders as Freedom Foods Group Limited (ASX:FNP) and Dean Foods Company. The dual listed dairy group was asked to provide the information by ASX just days after telling the market the offer may be withdrawn if it ceases to be confidential. A2 Milk says it is continuing to seek further information in order to evaluate the proposal and will update the market on further developments as appropriate. Shares in The a2 Milk Company dropped 2.92 per cent to close at $0.665 yesterday. 
Shares in Australian Ethical Investment Limited (ASX:AEF) dropped yesterday after issuing a profit warning. The manager of ethical funds now expects to report a net profit of between $1.7 million and $2.1 million over the 2015 financial year. The target is down from earlier guidance of between $2.3 million to $2.8 million and down from last year’s result of $2.5 million. Shares in Australian Ethical Investment dropped 9.22 per cent to close at $59 yesterday. 

Ausmani Limited (ASX:ABF) paying a 0.033 cent fully franked dividend
Aberdeen Leaders Limited (ASX:ALR) paying a 2 cent fully franked dividend

Gold has declined $2.10 to $US1,175 an ounce for the August contract on Comex. 
Silver has risen $0.11 to $15.88 for July.
Copper has lifted $0.01 to $2.62 a pound. 
Oil has dropped $0.06 to $US60.21 a barrel for August light crude in New York.

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