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S&P/ASX 200 futures suggest positive start, US markets down on oil

The ASX 200 is near flat or 2 points lower to 6336.4 points at 11.58am.
electronic board showing stock ticker prices
A private equity $1.95 bid for Superloop (ASX:SLC) has sent its shares up 5.5% to $1.91

S&P/ASX 200 (INDEXASX:XJO) has given back its earlier gains to be trading flat at around midday.

The ABS monthly building approvals data came in at -15.5% vs -12.5% expectations which saw the AUD sold off but effect on the share market was muted.

Shares in Macquarie (ASX:MQG) are down 6.11% at 12.01pm after it downgraded its outlook in its full-year result.

Buy-now, pay-later company Afterpay (ASX:APT) is up 3% to $27.66 at midday after revealing a new funding facility to continue its rapid US expansion.

Pre-market: S&P/ASX 200 futures suggest positive start, US markets down on oil

ASX 200 futures are pointing to a positive open although US markets were lower overnight as the oil price continued to fall.

US chemicals company, DowDuPont Inc (NYSE:DWDP) finished down 6.73% as it reported a fall in earnings for the March quarter.

On the commodity front, oil prices hit a one-year low on news that US crude oil inventories spiked suggesting the market is not as tight as expected.

Crude Oil WTI fell more than US$2 to around US$61.10 before steadying at US$61.66.

Australia building approval data at 11.30am

At 11.30am, the Australian Bureau of Statistics (ABS) will released its monthly building approvals data.

It is considered a good gauge of future construction activity as attaining an approval is among the first steps in constructing a new building.

Economists estimate the monthly figure to be -12.5%.

In pre-market company news, Macquarie Group (ASX:MQG) has relased its full year results and Amcor (ASX:AMC) shareholdes approved the US$6.8 billion takeover of US rival Bemis (NYSE:BMS).

 

 

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