S&P/ASX 200 (INDEXASX:XJO) opened slightly positive but has drifted down over the morning to be slighty down for the day at early afternoon.
Both the S&P 500 Index (INDEXSP:.INX) and the Nasdaq Composite (INDEXNASDAQ:.IXIC) finished higher on Friday, which has been enough to boost other Asian equity markets, but not Australia.
Reporting season is underway in the US and is off to a strong start after JPMorgan (NYSE:JPM) impressed investors on Friday, finishing up 4.63%.
Perpetual price action continues
Listed fund manager Perpetual Ltd (ASX:PPT) is down 5.07% today at 1.44pm to $41.00 after finishing up 5.7% on Friday.
Rumours are spreading around the market that it may be looking at Platinum Asset Management Ltd (ASX:PTM) as a potential target.
IFL cops class action, shares down 2.1%
IOOF Holdings Ltd (ASX:IFL) shares are down 2.05% at $6.455 at 1.48pm after it revealed it has been served with a class action proceeding.
IOOF considers the claim speculative and without foundation.