Markets Live: Oil plunge fuels ASX losses – Sydney Morning Herald

9:10am: Local shares are poised to open lower, with most commodities sliding after OPEC opted to hold firm on the group’s current production level.

Here’s what you need2know:

• SPI futures down 17 pts at 5397

• AUD at 85.46 US cents, 100.71 Japanese yen, 68.56 Euro cents and 54.34 British pence

• Wall St closed for Thanksgiving holiday

• In Europe, Euro Stoxx 50 +0.6%, FTSE -0.1%, CAC +0.2%, DAX +0.6%

• Spot gold down 0.6% to $US1190.42 an ounce

• Brent oil down 6.7% to $US72.58 per barrel

• US crude down 6.3% to $US69.05 per barrel

• Iron ore jumps 2.2% to $US69.98 per metric tonne

What’s on today:

• Australia: Reserve Bank to release financial aggregates for October, private sector credit October

• New Zealand: building consents, November ANZ business confidence, October private sector credit

• China leading index

• Japan jobless rate, retail trade, CPI, household spending, industrial production

• Euro zone unemployment, CPI

• US early close for Thanksgiving.

Stocks to watch:

• Rio Tinto investor day

• AGMs: Lynas Corp, Primary Health Care, Metgasco, Regis Resources, Australian Dairy Farms

• Gas giant BG Group should expect three bids for its $US4 billion-plus Queensland gas pipeline, after heavyweight infrastructure buyer Cheung Kong was a late withdrawal from the auction, the Australian Financial Review reports.

• Commonwealth Bank cut Domino’s Pizza to “underweight” from “neutral” and lowered its price target to $23.30 a share from $25.60.

Read more.