Morning traders. Thanks loungers, especially @Ravgnome.
Outlook for the day: Negative following mild falls in most European markets during last night's US public holiday.
ASX futures: down 18 points or 0.23%
Overnight themes:
- European stocks retreated during the Juneteenth US market holiday as declines in tech and property stocks outweighed gains in miners.
- The pan-European Stoxx 600 dipped 0.17%. Germany's DAX index gave up 0.35%, France's CAC 40 lost 0.77% and Italy's FTSE MIB index 0.29%.
- European stocks slumped last week after France's president called a snap election following broad gains for right-wing parties in European elections. Investors have been unsettled by polls showing the populist far-right National Rally party is leading going into the election.
- The tech sector declined 1.15% after inflation ticked higher in the euro-zone. Annual headline inflation rose to 2.6% last month from 2.4% in April.
- UK stocks overcame early losses as UK inflation figures met expectations and miners outperformed. The FTSE 100 edged up 0.17%. BHP and Rio Tinto both rose in UK trade as copper rebounded and iron ore finished mixed in China and Singapore.
- Iron ore eased in daytime Chinese trade as authorities continued to discuss production cuts with steel-makers. Benchmark prices on the Dalian Commodity Exchange dipped 0.36% to US$113.55 a metric ton, reversing early gains. Singapore ore gained 0.5%.
- Oil backed off a seven-week high in thin, holiday-affected trade. Brent crude dipped six cents or 0.1% to US$85.33 a barrel.
Key events today:
- China loan rate decision - 11.15 am AEST
- Rate decisions UK & Switzerland - tonight
- US unemployment claims, building permits, housing starts - tonight
Stoxx 600: down 0.17%
S&P 500: closed
Dow: closed
Nasdaq: closed
Dollar: up 0.15% to 66.71 US cents
Iron ore (Dalian): down 0.36% to US$113.55
Brent crude: down 6 US cents or 0.1% to US$85.33
Natural gas (US futures): up 0.1% to US$2.91
Gold: down US$4.30 or 0.18% to US$2,342.60
Silver: up 23 US cents or 0.79% to US$29.76
NYSE Arca Gold Bugs: US markets closed
Bitcoin: up 0.47% to US$64,778
Copper (LME): up 1.17% to US$9,785
Nickel (LME): down 0.14% to US$17,325
Uranium (spot price): up 0.58% to US$87
Lithium carbonate (China spot): down 1.8% to US$13,127
Global X Lithium & Battery Tech ETF (UK): down 0.8%
BHP: up 0.5% (UK)
Rio Tinto: up 0.54% (UK)
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