Giving you all the latest in Stock Market Information as it happens...


Morning Update - Thursday July 2, 2015

Good morning. The Aussie market is poised for a flat start this morning, despite U.S. markets advancing overnight. American stocks finished higher with traders looking past the latest developments in Greece and instead focussing on economic data. The main indexes pared early session gains, aided by a sharp drop in energy stocks. The S&P 500 closed up 14.3 points (+0.7%) at 2,077.4. Financials led the gains on the benchmark index, while energy stocks—the only sector trading lower—fell following a sharp drop in oil prices. The Dow Jones finished up 138.4 points (+0.8%) at 17,757.9. The Nasdaq gained 26.3 points (+0.7%) to close at 5,013. All three indexes, however, are still down about 1% for the week to date. Greece is going ahead with a referendum on Sunday to decide whether to accept the austerity demands of its creditors. Talks over the past few weeks to negotiate a bailout deal ended without a deal, and Greece is now in arrears on its IMF loan payment. In the commodity space, gold was little changed, iron ore slipped 0.3% and Brent crude slumped 2.5%. It wasn't all bad news however, with base metals stronger; tin was a stand-out, up around 4%. The Aussie dollar lost ground overnight and this morning is fetching 76.4 U.S. cents.