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Australian shares are set for a flat start after US stocks slipped back from a four-year high and Euro stocks climbed as investors remained hopeful of ECB action over the eurozone crisis.
On the ASX24, the SPI futures index was 2 points lower to 4374. The Aussie dollar was unchanged. It was recently buying $US1.0478, the same level it reached in late trade yesterday afternoon. It was also buying 84.07 euro cents, 66.39 pence and 83.06 yen.
Earnings season continues today with BHP, Seven West Media, Coca Cola, AGL, Woodside, Suncorp and Pacific Brands among the companies expected to report. Click here for a full list.
Making news today
In economics news today:
- Westpac-Melbourne Institute Leading Indexes of Economic Activity
- Department of Education and Workplace relations internet skilled vacancies for July
In company news:
- The following companies release full-year earnings: BHP Billiton, Seven West Media, AGL Energy, Southern Cross Media, Suncorp Group, APA Group, Asciano, Orbital Corporation, Country Road, Noni B, Pacific Brands, Suncorp Group, Wotif.com, Ridley Corporation, CSL, Boral, Super Retail Group, Australian Vintage, PaperlinX, Trade Me Group, The Reject Shop Coca-Cola Amatil first half results
- Woodside Petroleum first half results
- Tabcorp record date
- Santos ex dividend date
How we fared yesterday
Australian shares rose to their highest close in 3-1/2 months on positive earnings reports and encouraging commentary from the Reserve Bank.
The benchmark S&P/ASX200 index rose 19.1 points, or 0.4 per cent, to 4383.4, after briefly topping 4400 points in the afternoon. The broader All Ords gained 18.9 points, or 0.4 per cent, to 4410.8.
Gains were broad-based, with materials rising 0.4 per cent, financials adding 0.3 per cent and energy stocks jumping 1.4 per cent. Consumer staples were among the few losers, dropping 0.3 per cent.
BusinessDay with agencies