Morning all. Market wrap: as Snacks says, there is no clear lead...

Morning all.

Market wrap: as Snacks says, there is no clear lead this morning with US markets closed yesterday for President's Day. Without Uncle Sam to dictate direction, most markets of interest drifted lower.

European shares dropped around 1.4% under pressure from banking losses. Oil slid 0.75% to $37.15. Gold slipped by the same percentage towards $942. Base metals followed suit, with copper particularly weak after Japan announced its worst GDP figures since the 1970s.

Our futures were similarly lacklustre, gaining two points to 3500.

There's not much there to set the pulse racing. Locally, OZL has crawled from the grave, thanks to China, and is due to trade today. Good news stories are rare this year, so congratulations to long-suffering holders. Today's price action should be interesting.

WDC survived a retest of its low yesterday and could be worth a look. I'm still holding JHX after it opened weak yesterday but climbed steadily into the close. Still watching for signs of a bottom in AWB, AIO, BKN and GPT.