Euro debt fears to sink Aussie shares

Reported by AAP
Wednesday, July 25, 2012

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The Australian market looks set to open lower following falls on Wall Street overnight on growing concerns about Europe's sovereign debt crisis and lacklustre corporate earnings in the US.

At 6.45am (AEST) on Wednesday, the September share price index futures contract was down 30 points at 4052.

In economic news on Wednesday, the Australian Bureau of Statistics (ABS) releases the consumer price index for the June quarter.

In equities news, Macquarie Group is scheduled to hold its annual general meeting in Sydney.

Mount Gibson Iron, Panoramic Resources and OZ Minerals are due to post quarterly reports while Intrepid Mines is slated to release first half results.

In Australia, the market on Tuesday closed slightly higher in a major turnaround from the day before, as cautious investors were encouraged by better Chinese manufacturing data.

The benchmark S&P/ASX200 index rose 4.3 points, or 0.1 per cent, to 4,133.2, while the broader All Ordinaries index gained 2.0 points, or 0.05 per cent, to 4161.2.

23/05/2013 17:58Sydney, Australia. 23 May,2013
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