The local share market is expected to open the day lower following mixed results from global markets overnight.
Here's a recap:
- Dow Jones (USA) – up 0.47%
- NASDAQ (USA): up 0.44%
- FTSE 100 (UK): down 0.63%
- DAX (Germany) – up 0.06%
- EURO STOXX 50 (Europe) – down 0.22%
In the US, shares bounced back from three down days, with stronger performances coming from airlines. In recent years, ongoing weakness in oil prices buoyed the profit performances of transportation companies around the world. Also in the US, Australian technology heavyweight, Atlassian, began life as a publicly traded company, listing on the NASDAQ to a strong 33% rally in share price.
In Europe, falling commodity prices dampened investor sentiment. FTSE-listed shares of BHP Billiton Limited (ASX: BHP) and Rio Tinto Limited (ASX: RIO) closed 2% lower and 0.7% higher, respectively.
Closer to home, the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) is expected to open slightly lower. Further falls in iron ore and oil prices overnight could see the share price of miners BHP, Rio Tinto, Fortescue Metals Group Limited (ASX: FMG); and oil and gas producers Woodside Petroleum Limited (ASX: WPL), Santos Ltd (ASX: STO) and Oil Search Limited (ASX: OSH), come under selling pressure.
In company-specific news, M2 Group Ltd (ASX: MTU) entered a trading halt this morning pending the outcome of a court hearing with regards to its merger with Vocus Communications Limited (ASX: VOC). Asciano Ltd (ASX: AIO) released Brookfield Infrastructure Partners' 'Target Statement' to the ASX.
And in broker news, analysts at UBS reiterated their sell rating on Woolworths Limited (ASX: WOW) shares with a $22 price target, according to Fairfax Press.
