The local S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) is expected to open the day lower despite a stronger performance from US and European stockmarkets on Friday.
Expectations are growing the US Federal Reserve will lift interest rates following a surge in labour market strength at the weekend. The Australian dollar plunged against the greenback on the news and currently sits at just US 70.26 cents.
UK-listed shares of Rio Tinto Limited (ASX: RIO) and BHP Billiton Limited (ASX: BHP) fell 0.75% and 5.7%, respectively, on Friday. BHP's share price woes followed news of a mudslide at one of its operations in Brazil.
The Sydney Futures Exchange is currently pointing to a 28-point drop in the ASX 200 today, representing a fall of around 0.5%.
Gold mining stocks such as Newcrest Mining Limited (ASX: NCM) and Northern Star Resources Ltd (ASX: NST) will also be in focus after gold prices closed below $US1,100 an ounce overnight. With iron ore down 1.03%, to $US48.21 per tonne, Fortescue Metals Group Limited (ASX: FMG) and other miners could also come under pressure. Brent Crude oil prices also suffered another heavy fall, down 1.17% over the weekend.
In company-specific news, QUBE Holdings Ltd (ASX: QUB) will hold its Annual General Meeting today. Lately, QUBE has been locked in a battle to secure ownership of part of Asciano Ltd's (ASX: AIO) ports business. However, Asciano is still likely to be acquired as part of Canada's Brookfield Infrastructure Partners $8.9 billion takeover.
Santos Ltd (ASX: STO) shares are in a trading halt this morning after saying that it had completed its strategic review and will generate $3.5 billion in capital initiatives. In addition to asset sales, a $2.5 billion capital raising will be undertaken. In addition, Santos said it has appointed Mr Kevin Gallagher as CEO.
