The local share market is expected to open the day lower, following weaker leads from Wall Street overnight.
In the US, the Dow Jones and NASDAQ fell 0.89% and 0.64%, respectively, as a 4.23% drop in Brent crude oil weighed on energy stocks. In Europe, London's FTSE 100 crept 0.4% higher, while the EURO STOXX 50 Index fell 0.32%.
Despite a 2.63% drop in iron ore prices to $US41.13 per tonne, according to The Metal Bulletin, FTSE-listed shares of BHP Billiton Limited (ASX: BHP) rose 0.21%. Rio Tinto Limited (ASX: RIO) fell 0.2%.
Closer to home, the local S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) is poised to open 1% lower.
BHP shares, which are down 39% in 12 months, will be in focus after analysts at Australia's leading investment bank, Macquarie Group Ltd (ASX: MQG), put an 'outperform' rating on the embattled miner's shares, according to FNArena. BHP has been grappling with falling commodity prices and negative press from a recent tailings dam wall collapse in Brazil.
Santos Ltd (ASX: STO) shares will also be closely watched today following a successful capital raising yesterday. Meanwhile, Spotless Group Holdings Ltd (ASX: SPO) fell 38% yesterday on the back of an ASX announcement detailing a bleak trading update.
This morning, apartment developer Finbar Group Limited (ASX: FRI) announced it received approval for a development in Perth, worth $160 million.
Agriculture business Nufram Limited (ASX: NUF) is scheduled to hold its Annual General Meeting today.
In broker news, Morgans rates Select Harvests Limited (ASX: SHV) as an 'add'; Citi believes Caltex Australia Limited (ASX: CTX) is a 'buy; and Credit Suisse thinks Treasury Wine Estates Ltd (ASX: TWE) is a hold, according to FNArena.