Aust market to open steadily Published 7:42 AM, 3 Jun 2011 Last update 7:50 AM, 3 Jun 2011
AAP
The Australian market is expecting a flat start to trade, a day after posting its worst fall in 12 months.
Mixed to negative leads from offshore trading overnight were not expected to weigh heavily on the local market.
At 0621 AEST on the ASX 24, the June share price index futures contract was up one point at 4,607 points.
In economic news, the Australian Industry Group, with Commonwealth Bank, release their Australian Performance of Services Index (PSI) for May, and the Federal Chamber of Automotive Industries (FCAI) issues monthly car sales figures for May.
In equities news, Rio Tinto Iron Ore and Australia chief executive officer Sam Walsh addresses the American Chamber of Commerce in Melbourne, and Atlas Iron managing director David Flanagan speaks to an Australian British Chamber of Commerce luncheon on `Atlas Iron: Our Version of Events', in Perth.
More than $33 billion was wiped from the value of the Australian share market yesterday, which fell in line with other bourses around the world on renewed concerns about a global economic slowdown.
The benchmark S&P/ASX200 index fell 106.9 points, or 2.27 per cent, to 4,600.4, while the broader All Ordinaries index lost 105.4 points, or 2.2 per cent, to 4,683.2.
