Sharemarket to open one per cent lower

Posted Červen 27th, 2011 by Billabongboardshortscloths

The Australian sharemarket is expected to open around one per cent lower today after US stocks fell due to fresh concerns about the financial stability of the eurozone.

CommSec economist Craig James says Australian stocks will trade in line with the US in the absence of domestic leads.

Mr James predicts stocks with overseas exposure, such as Westfield, Billabong and CSL, will all benefit from a weaker Australian dollar.

On Friday the Australian share market finished flat, with the benchmark SP/ASX200 7.6 points, or 0.17 per cent, higher at 4,508.1 points, while the broader All Ords was up 3.6 points, or 0.08 per cent, at 4,565 points.

The Australian dollar was trading at 105.23 US cents.

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