Market analysis: The Australian stock market is expected to resume its downward trend

Amid the decline in the US stock market on Friday, Australian stock index futures fell by 0.4% ahead of Monday's opening. The benchmark S&P/ASX 200 Index closed lower in 15 out of the past 19 trading days and fell by 1.3% last week as concerns intensified over the potential long-term economic impact of the Iran conflict. Before the market opened, pallet supplier Brambles lowered its annual profit forecast but announced a new $400 million share buyback program. Agribusiness Elders reported a 17% increase in first-half profit. Coal miner New Hope reported a 22% growth in quarterly core earnings.