The Australian market opens today’s trade on lacklustre overnight international trade leads, ahead of several domestic economic data reports, and as several large-cap domestic stocks trade ex-dividend.

Locally today, NAB’s monthly business conditions and sentiment survey report, and July lending finance from the Australian Bureau of Statistics (ABS) are due 11.30am AEST.

The ACCC and Westpac also publish a quarterly business activity report this morning.

A weekly consumer sentiment reading is due pre-trade.

Stocks trading ex-dividend today include BXB, CSL, ING, NWS and REG. Please see p3 for additional stocks and details.

In mixed overnight commodities trade, WTI crude continued lower, while Brent added to Friday’s gain. 

US gold settled lower, but slightly so.

Iron ore (China port, 62% Fe) swung lower following four consecutive gains.

LME copper turned lower and nickel higher. Aluminium extended Friday’s rally.

Meanwhile new, weak Australian winter crop production forecasts are expected to impact some agribusiness sector sentiment.

The $A slipped to ~US71.10c after rising to ~US71.25c early yesterday evening.

Overseas Market Commentary

Mixed openings and significant vacillations featured across major European and US equities markets overnight. 

The prospect of additional US tax cuts potentially becoming law before the November mid-term elections were cited as early support for the DJIA and S&P 500, but it was the NASDAQ which ultimately achieved the greatest gain.

China’s vow to retaliate again should new import taxes be announced by the US, kept sentiment low.

Meanwhile, a hurricane warning was issued for the Carolina coast.

A swag of releases in the UK included the July trade deficit, which improved to £0.111B from £0.942B.

July GDP rose 0.3% for the month, following 0.1% growth in June. GDP mean growth for the three-months to the end of July rose to 0.6% from 0.4%. 

Industrial production improved 0.9% year-on-year, following 1.1% in June. For the month, output rose 0.1%, against 0.4% for June.

July construction output increased 2.2% year-on-year, against a 2.2% rise in June. 

In the US, July consumer credit was reported $US16.6B higher, at $US3.9 trillion. 

Tonight in the US, July wholesale inventories, a job openings report and business optimism index are due.

Cairn Energy and JD Sports are due to report earnings. 

In overnight corporate news, Apple traded 1.3% lower following its late-week warning of the likely adverse impact on several Apple products from US import taxes on goods from China. 

Snap was pushed 2% lower after revealing another executive departure, this time the company’s chief strategy officer.

Earlier, Alibaba Group executive chairman confirmed his appointed successor (Alibaba’s CEO) when he plans to step down in a year’s time. The stock fell 3.7% in the US.

In the UK, Associated British Foods delivered two disappointing divisional outlooks, subsequently heading 1% lower.