Sydney, July 6, 2007 (ABN Newswire) - Australian shares could be off to a tepid start today with little direction from Wall Street, though a jump in oil prices could boost energy firms. Zinifex and Oxiana Resources are likely to remain in focus after shares in both firms climbed to record highs on merger speculation. However, a rise in US bond yields may see rate-sensitive banking and property stocks come under pressure.

Turning to the markets, on Thursday, the ASX was up 64 finishing at 6,362. On the futures market the SPI200 is down 15.

To currencies, the Australian dollar was weaker in early trading today, after the US dollar got a boost from an unexpected gain in the services sector. At 8:30 AM the Aussie dollar is buying 85.58 US cents, on the crosses it's buying 105.26 yen, 62.98 Euro cents, and 42.55 British pence

The full report is available at the following video and audio links.

Video Link

http://www.finnewsnetwork.com/asxgen/get_asx.aspx?site=abnnewswire&intro=MBL_AuOutlook.wmv&media=preopening(Broadband).wmv&content_type=BUSINESS_REPORT&date=20070706


Audio Link

http://www.finnewsnetwork.com/asxgen/get_asx.aspx?site=abnnewswire&media=preopening.wma&content_type=BUSINESS_REPORT&date=20070706

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