Local shares set for a flat open as investors digest the shock decision by Britain to depart the European Union.
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What you need2know
SPI futures up 3 pts or 0.1% to 5074
AUD at 74.65 US cents, 75.52 Japanese yen, 67.33 Euro cents and 55.00 British pence
On Wall St, Dow -3.4%, S&P 500 -3.6%, Nasdaq -4.1%
In Europe, Stoxx 50 -8.6%, FTSE -3.2%, CAC -8%, DAX -6.8%
Spot gold +4.7% to $US1315.75 an ounce in New York on Friday
Brent crude -4.9% to $US48.41 a barrel in New York on Friday
Iron ore -2.5% to $US50.61 per tonne
What's on today
No local data; NZ trade balance (May).
Currencies
Sterling edged off lows against the US dollar, recovering slightly from a 10 per cent plunge to its weakest in 31 years. Sterling was down 8.1 per cent against the US dollar in late New York trade, at $US1.3662, after touching its weakest since before the 1985 Plaza Accord of $US1.3228.
Commodities
Oil futures dropped 4.9 per cent in New York and London, the biggest decline in four months. Brent for August settlement fell $US2.50 to $US48.41 on the London-based ICE Futures Europe exchange. It's also the biggest drop since February 9. The global benchmark oil closed at a 77-cent premium to WTI.
Gold soared as much as 8 per cent to its highest in more than two years on Friday.
United States
The S&P 500 turned negative for the year-to-date on Friday as Wall Street suffered its largest selloff in 10 months. In the busiest trading volume for a single session in nearly five years, financial stocks led the decline on the S&P 500 with a 5.4 per cent drop -the largest for the sector since November 2011.
Europe
The Stoxx Europe 600 Index sank 7 per cent at the close of trading on Friday. The FTSE 100 Index fell 3.2 per cent, trimming a slump of as much as 8.7 per cent as exporters gained amid a plunge in the pound.
What happened Friday
The shock result of the Brexit referendum sent the Australian sharemarket plummeting on Friday and sparked a wild plunge in the pound sterling, as investors brace for worse to come tonight.
At close of trade the S&P/ASX 200 ended 3.2 per cent, or 167 points lower, to 5113, while the All Ordinaries finished 3.1 per cent or 165 points lower at 5193, handing back all of the gains in the lead up to the decision and more. The benchmark index now sits at its lowest point since April.
