The Australian share market looks set to open flat amid widespread negative sentiment on international bourses.
At 0700 AEDT on Friday, the share price futures index was down one point, or 0.02 per cent, at 6,012.
In the US, Walt Disney struck a deal to buy Rupert Murdoch’s Twenty-First Century Fox’s assets for $US52.4 billion in stock.
Fox rose 4.12 per cent and Disney 2.2 per cent, boosting the consumer discretionary sector by 0.5 per cent. Other media stocks Netflix and Comcast were also higher.
But, the deal did little to buoy sentiment on Wall Street, with gains in shares of technology and consumer discretionary companies unable to offset losses in healthcare stocks such as Johnson & Johnson.
In late afternoon trading, the Dow Jones Industrial Average was down 0.14 per cent, while the S&P 500 had fallen 0.31 per cent, and the Nasdaq had shed 0.45 per cent.
Locally, no major economic news is expected on Friday.
In equities news, National Australia Bank and Orica have their annual general meetings scheduled.
The Australian market on Thursday lost ground as gains for materials and energy companies were offset by falls in the utilities and property trust sectors, and the Australian dollar has been boosted by strong jobs growth.
The benchmark S&P/ASX200 index fell 10.5 points, or 0.17 per cent, to 6,011.3 points.
The broader All Ordinaries index lost 6.7 points, or 0.11 per cent, to 6,096.4 points.
Meanwhile, the Australian dollar has risen against a stronger US dollar.
The local currency was trading at 76.74 US cents at 0700 AEDT on Friday, from 76.65 on Thursday.
CURRENCY SNAPSHOT AT 0700 AEDT:
One Australian dollar buys:
* 76.74 US cents, from 76.65 on Thursday
* 86.10 Japanese yen, from 86.31 yen
* 65.08 euro cents, from 64.82 euro cents
* 57.10 British pence, from 57.07 pence
* 109.71 NZ cents, from 109.50 cents
The spot price of gold in Sydney at 0700 AEDT was $US1,254.87 per fine ounce, from $US1,258.18 per fine ounce on Thursday.
BOND SNAPSHOT AT 0700 AEDT:
* CGS 4.50 per cent April 2020, 1.9787pct,, unchanged
* CGS 4.75pct April 2027, 2.5263pct, unchanged
Sydney Futures Exchange prices:
* December 2017 10-year bond futures contract at 97.4575 (implying a yield of 2.5425pct), from 97.4225 (implying a yield of 2.5775pct) on Thursday
* December 2017 3-year bond futures contract at 97.95 (2.05pct), from 97.91 (2.09pct).
(*Bond market closes taken at 1630 AEDT previous local session; currency closes taken from 1700 AEDT previous local session)