Australian shares set to rise; UK pound tumbles
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The news: The Australian sharemarket is set to open higher as investors take cues from stronger European trading, with the US markets closed overnight.
The numbers: Updated at 7:25am AEDT:
- ASX futures: up 32 points or 0.39% at 8,342 points
- Wall Street: closed
- Europe: FTSE 100 up 0.83%, CAC 40 up 0.51%, DAX down 0.06%
- Spot gold: up 0.33% to USD2,670.68 per ounce
- Oil prices: Brent up 1.33% to USD77.17/barrel, US WTI up 1.21% to USD74.21/bbl
- AUD: down 0.29% at 61.98 US cents
- Bitcoin: down 2.93% to USD92,313.63
The context: US stock markets were closed to mark the funeral of former president Jimmy Carter. European shares finished higher after paring early losses, helped by gains in healthcare and basic materials stocks, which were offset by declines in retailers.
The pan-European STOXX 600 closed up 0.42%. Meanwhile, the British pound headed for its biggest three-day drop in nearly two years, under pressure from a selloff in global bonds that has hit gilts especially hard, driving yields to 16-1/2-year highs, as concern mounts about Britain's finances.
What to Watch: Local household spending data for November; the US Bureau of Labor Statistics will release its closely watched US jobs report at 12:30am Saturday AEDT.
The source: Bloomberg
