The Australian share market looks set to open modestly higher after virtually all major global bourses closed with good gains in the offshore session.
At 0700 AEST on Thursday, the share price futures index was up 11 points, or 0.18 per cent, at 6,136.
Major equity markets around the globe closed higher, with the Nikkei 225 and the Hang Seng leading the pack, gaining 1.24 per cent and 0.77 per cent, respectively.
Lifts on other bourses were far more modest – except the Nasdaq which rose 0.72 per cent, and the Dow fell 0.17 per cent, hemmed in as concerns over an escalation in the US-China trade skirmish simmer.
The Dow Jones Industrial Average fell to 24,657.8, the S&P 500 gained 0.17 per cent, to 2,767.32 and the Nasdaq Composite added 0.72 per cent, to 7,781.52.
Locally, no major economic or equities news is expected on Thursday.
However, Telstra may still feel the impact of its plan to axe 8,000 jobs and sell assets which on Wednesday sent its shares tumbling 4.8 per cent to a seven-year low of $2.77.
And, APN Outdoor shares will be under scrutiny after France-based outdoor advertising giant JCDecaux made a $1.1 billion offer for the local company after the close of trading on Wednesday.
The Australian market on Wednesday closed at its highest level in more than 10 years as the major banks soared, while Telstra plunged after announcing major job cuts and asset sales.
The benchmark S&P/ASX200 index gained 70.5 points, or 1.16 per cent, to 6,172.6 points, its highest level since January 2008, while the broader All Ordinaries index added 65.7 points, or 1.06 per cent, to 6,274.6 points.
Meanwhile, the Australian dollar has continued its slide against a steady US dollar.
The local currency was trading at 73.72 US cents at 0700 AEST on Thursday, from 73.99 on Wednesday.
CURRENCY SNAPSHOT AT 0700 AEST:
One Australian dollar buys:
* 73.72 US cents, from 73.99 on Wednesday
* 81.36 Japanese yen, from 81.51 yen
* 63.68 euro cents, from 63.97 euro cents
* 55.93 British pence, from 56.25 pence
* 107.33 NZ cents, from 107.20 cents
The spot price of gold in Sydney at 0700 AEST was $US1,267.61 per fine ounce, from $US1,273.21 per fine ounce on Wednesday.
BOND SNAPSHOT AT 0700 AEST:
* CGS 4.50 per cent May 2021, 2021, 2.1109pct, unchanged
* CGS 4.75pct May 2028, 2.6564pct, unchanged
Sydney Futures Exchange prices:
* September 2018 10-year bond futures contract at 97.320 (implying a yield of 2.680pct), from 97.335 (implying a yield of 2.665pct) on Wednesday
* September 2018 3-year bond futures contract at 97.860 (2.140pct), from 97.865 (2.135pct).
(*Bond market closes taken at 1630 AEST previous local session; currency closes taken from 1700 AEST previous local session)