The West

The Australian sharemarket is lower at the open.
The Australian sharemarket is lower at the open.

The Australian sharemarket looks set to open lower following strong falls on US and European markets overnight amid fears of political turmoil in Spain and Italy.

At 3.30pm, the March share price index futures contract was down 32 points at 4837.

In economic news, the Reserve Bank of Australia holds its first rate meeting for 2013.

The Australian Bureau of Statistics is due to release December data for international trade in goods and services and house prices, and the Australian Industry Group/Commonwealth Bank Australian Performance of Services Index for month just ended is due to be released.

In equities news, Cochlear, Primary Health Care and Transurban Group are due to post earnings results.

Yesterday the market closed weaker, with investors unwilling to push the bourse to 5000 points without new good economic news.

At the close, the benchmark S&P/ASX200 index was 13.6 points, or 0.28 per cent weaker at 4907.5, while the broader All Ordinaries index was down 12.8 points, or 0.26 per cent, at 4929.1.

The West Australian

Latest News From The West

Popular Dockers Michael Barlow and Alex Silvagni will learn their fates early next week, with a Fremantle list management committee meeting likely to decide their spots on the club’s list.

Matt Knight and Andre Ingram had an immediate impact as the Perth Wildcats overcame a scare and the Illawarra Hawks to prevail by seven points at Perth Arena last night.

Perth Glory coach Kenny Lowe was forced to watch the second half of his side’s thrilling 3-2 win over Melbourne City from the stands following a sensational outburst at referee Allan Milliner …

Popular videos

Our Picks

Follow Us

More from The West