Activity on equity markets is likely to be muted today, as investors batten down the hatches ahead of the Greek election on Sunday, when citizens of the heavily indebted nation will decide whether they stay in the euro zone.

Uncertainty levels are running high, as pre-election polling was suspended two-weeks ago, leaving a big question mark hanging over the event.

US equities rose after a weaker run of inflation and jobless claims data spurred bets the Federal Reserve would be forced to intervene, while Europe chalked up modest losses. The nervousness stalking markets is likely to roll through the Asia Pacific trading day and into the European and US sessions later, probably consigning any data to the background.

Locally, the Performance of Manufacturing Index data is due, followed by consumer confidence numbers. Offshore, the Bank of Japan is also holding a policy meeting.

Stocks to watch:

Independent News & Media announced it will delist from the NZX next week Friday. The company will continue to be listed on both the Dublin and London Stock Exchanges. INM shares are listed in New Zealand but do not trade here.

L&M Energy is considering listing on Toronto's Venture Stock Exchange to increase its investor pool. The coal and petroleum explorer has appointed Canadian brokerage Casimir Capital to help with the process to become triple listed. LME shares were unchanged yesterday at 8c apiece.

Vodafone's purchase of TelstraClear is close to a done deal, according to sources quoted in the press. A price of $450 million to $500m is being talked about in the market. TLS shares rose 0.4 per cent yesterday to $4.62.

Equity markets
 
Australia and New Zealand
NZX 50:+1 per cent to 3416.08
S&P/ASX 200: -0.53 per cent to 4042.2   

US:
Dow: +1.24 per cent to 12,651.90
S&P 500: +1.08 per cent to 1329.10
Nasdaq: +0.63 per cent to 2836.33

Europe
FTSE 100: -0.31 per cent to 5467.05
Dax: -0.23 per cent to 6138.61
Stoxx 600: -0.3 per cent to 241.84

Asia
Nikkei: -0.22 per cent to 8568.89
Hang Seng: -1.15 per cent to 18,808.40

Currency
The New Zealand dollar recently traded at US78.22 cents, up from US77.73c at 5pm yesterday.

Commodities
Gold: US$1624.29 an ounce, from US$1616.89 yesterday
ICE Brent Crude: US$96.97 a barrel, from US$96.97 yesterday
Thompson Reuters Jefferies CRB: +1.02 per cent to 272.05

- © Fairfax NZ News