Local Markets Commentary

The Australian market opens today’s trade on lacklustre international equities leads ahead of key data out of China.

China is expected to report February retail sales, industrial production and fixed asset investment 1pm AEDST.

In overnight commodities trade, US gold futures settled slightly higher and oil slightly lower. Copper picked up the pace of Friday’s gains. Iron ore (China port, 62% Fe) swung positive and rallied.

The $A moved in a narrow range after trading at ~US75.80c early evening.

Locally today, NAB reports the results of its February business survey.

Pre-trade, a weekly consumer sentiment index is due.

In addition, ex-dividend season continues. Please see p3 for a detailed list.

Overseas Market Commentary

Choppy trade featured across major European and US equities markets overnight.

Trade was reportedly light in the US, as a significant storm approached the north east.

Italy revealed, ahead of overall euro zone figures later today, that January industrial production had dropped 2.3% year-on-year, following a 6.6% increase for December and expectations of a further 3.3% improvement.

The UK parliament’s House of Commons rejected the House of Lords proposed amendments to the legislation governing the planned triggering of formal negotiations to separate the UK from the European Union. The legislation now returns to the House of Lords.

Meanwhile in the Netherlands, constituents prepared to vote for the party (as opposed to candidate) of their choice in Wednesday’s (late tomorrow AEDST) national election.

Tonight in the US, a two-day Federal Reserve policy meeting commences. Outcomes will be known early Thursday AEDST.

Producer prices and a small business optimism index are also due.

Antofagasta, Investec, Prudential and Volkswagen are among companies due to report results.

In overnight corporate news, Intel fell after revealing an ~$US15B cash offer for driverless car system development partner Mobileye. Jerusalem