The Australian sharemarket is set for a modest advance after news the EU and the US had agreed to accelerate trade talks helped boost European shares in the first session of the week.
ASX futures are pointing up 20 points, or 0.2 per cent. Futures traders took cues from Europe while the UK and US stock markets were shut for a holiday.
In Europe, stocks erased Friday’s losses after European Commission President Ursula von der Leyen secured a one-month reprieve from US President Donald Trump, who on Friday threatened the EU with a 50 per cent tariff hit to press for trade concessions.
The Stoxx Europe 600 Index closed up 1 per cent, paced by industrial goods and autos, while US futures contracts for the S&P 500 and the Nasdaq showed a similar advance. Bitcoin rallied amid the risk-on mood, topping $US109,000 and nearing its all-time high.
Stocks to watch
Gold mining bellwether Newmont will trade ex-dividend on Tuesday.
Market highlights
ASX futures are pointing up 20 points or 0.2 per cent to 8411.
All US prices are as of 7.15am AEST.
AUD -0.05% to US64.85¢Bitcoin +1.6% to $US109,255US markets closed for a holidayGold -0.4% to $US3343.84 an ounceBrent oil -0.1% to $US64.74 a barrelIron ore -1.2% to $US96.95 a tonne10-year yield: US 4.51% Australia 4.38%Today’s agenda
It’s a very quiet day for data with European May consumer and economic confidence at 7pm and later in the evening US durable goods for April and the Conference Board’s May consumer confidence.
ALS and Findi are expected to release earnings results. Neuren Pharmaceuticals hosts an annual general meeting.