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Saturday, May 19, 2012

Australian shares market outlook may 21 2012

Australian shares market outlook may 21 2012, ASX200 futures prediction : The Australian share market is likely to open flat to slightly weaker on Monday as overseas markets continue to be affected by concerns over the troubled euro zone.

In the United States on Friday, stocks fell on anxiety over instability in the euro zone and a flat trading debut by Facebook.

The Dow Jones Industrial Average dropped 73.11 points, or 0.59 per cent, to 12,369.40 points. The S&P 500 index reversed 9.64 points, or 0.74 per cent, to 1,295.22 points, and the Nasdaq composite index lost 34.90 points, or 1.24 per cent, to 2,778.79 points.

European and US shares fell on Friday as concerns about Europe and global growth continue to rattle investors, ASX200 futures fell eight points, pointing to a flat to slightly down opening in the Australian share market on Monday."

that in the week ahead investors' attention was likely to stay fixed upon Europe, where debt-laden Greece's future in the euro zone is an issue and there are also worries about the health of Spanish and Greek banks.

euro-zone leaders meeting on Thursday were likely to focus on demands for an easing in the pace of fiscal austerity and the possibility of Greece exiting the euro zone.

Over the weekend, leaders of eight of the world's biggest economies signalled the importance of Greece staying in the euro zone and promised to boost global economic growth.

On the Australian share market this week, agribusiness Elders releases its first-half financial results on Monday, and building products supplier James Hardie releases its fourth-quarter results.

Grains marketer GrainCorp releases its half-year results on Tuesday. On Wednesday, department store operator Myer releases its third-quarter results.

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