The Australian stock market has opened marginally lower amid continued concerns about the coronavirus.
The benchmark S&P/ASX200 index was down 9.5 points, or 0.14 per cent, at 7022 at 1030 AEDT on Thursday as mining stocks slumped and banks rose.
The broader All Ordinaries index fell 10.6 points, or 0.15 per cent, to 7,125.3.
US equities finished slightly higher on Wednesday amid a mix of solid company earnings and worries about the coronavirus.
By Thursday morning the virus that broke out in China had killed 170 people.
Australian trading was mixed on Thursday but consumer staples were slightly higher as investors poured back into Treasury Wine Estates.
The winemaker’s shares gained 71 cents, or 5.75 per cent, to $13.06 at 1030 AEDT. The shares had slumped 26 per cent to a two-year low on Wednesday after the business warned its US performance had soured.
Big miners BHP Billiton, Rio Tinto and Fortescue Metals Group were all down, the latter almost 3 per cent to $11.19 despite affirming shipping guidance at the upper end of its forecast.
The big four banks were all marginally higher.
Among the insurers, Suncorp was down 13 cents, or 1.01 per cent, at $12.79 after saying the costs of the last three hazard events would be capped at $300 million. QBE was flat and IAG had gained one cent to $7.18.
Trade prices are the only data expected in Australia on Thursday.
The Australian dollar was buying 67.54 US cents at 1030 AEDT on Thursday, down from 67.70 US cents at the market close on Wednesday.
AAP
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