Australian stocks will fall on Tuesday, following rising oil prices overnight and US markets closed for Memorial Day.
Key points:
- ASX futures rose 0.1% to 7,287
- Iron ore rose 0.1% to $ 133.60 a tonne
- US markets closed on Monday
Futures ASX SPI 200 fell 0.1% to 7,285 at 6:45 am EAST.
The Australian dollar was close to 72 cents, up half a percent, to 71.97 US cents.
On Monday, the ASX 200 closed 104 points, or 1.5 percent, at 7,287.
Cash gold rose 0.6% to $ 1,852.50.
U.S. markets did not trade because of Memorial Day.
Iron ore futures rose Monday 19 cents or 0.1 percent to $ 133.60 a tonne as China eased restrictions on COVID-19.
In the oil markets, Brent crude rose 1.1% to $ 117.17 per barrel, while West Texas crude rose 1.9% to $ 121.72 per barrel.
In Europe, the pan-European STOXX 600 index gained (+ 0.6%), along with the German DAX (+ 0.8%) and the British FTSE (+ 0.2%).