Market Outlook: Australian Equities Expected to Resume Declines

Deep News05-18 07:21

As the new trading week begins, Australian stocks are anticipated to return to a downward trajectory. Following declines in U.S. markets on Friday, Australian index futures fell 0.4% ahead of Monday's opening. The benchmark S&P/ASX 200 index closed lower in 15 of the past 19 sessions and declined 1.3% last week amid growing concerns over the potential long-term economic repercussions of the conflict involving Iran. Ahead of the market open, pallet supplier Brambles revised down its annual profit forecast but announced a new $400 million share buyback program. Agribusiness Elders reported a 17% increase in first-half profit. Coal mining company New Hope posted a 22% rise in quarterly core earnings.

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