The S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) is expected to trade slightly lower today following mixed leads from international markets overnight.
Here's a recap:
- Dow Jones (USA): down 0.74%
- NASDAQ (USA): down 0.71%
- FTSE 100 (UK): up 0.02%
- DAX (Germany): down 0.19%
- CAC 40 (France): up 0.9%
In Europe, markets ended marginally higher following a decision by China's central bank to lower its bank reserve requirements to 17%. According to The Telegraph, it's the fifth time in a little over a year that China has moved to cut reserve requirements in a bid to bolster its economy.
FTSE-listed shares of BHP Billiton Limited (ASX: BHP) and Rio Tinto Limited (ASX: RIO) finished 0.87% and 2.34% higher, respectively.
US markets spent some of Monday's trade above break-even, but ended the day lower as technology giants such as Apple and Alphabet ended lower.
Closer to home, the Sydney Futures Exchange is tipping a 12 point, or 0.2%, fall in the S&P/ASX 200.
Shares of BHP Billiton will be in focus. Yesterday, credit ratings agency Standard & Poor's affirmed the miner's rating as 'A/A-1' with a negative outlook. S&P said BHP's decision to lower its dividend and capital expenditure program materially improves its financial flexibility.
Meanwhile, Orora Ltd (ASX: ORA) announced it had acquired retail display solutions provider, IntegraColor Ltd, for $107 million. The company said the deal is consistent with its North American growth strategy.
Slater & Gordon Limited (ASX: SGH) shares will also be in focus. Yesterday, the law firm revealed its half-year results to the market showing a loss of $958 million. Shares were heavily sold down.
Finally, following a busy reporting season, analysts at Goldman Sachs lowered their Super Retail Group Ltd (ASX: SUL) price target 18% to $8.80, while Morgan Stanley analysts raised their Vocus Communications Limited (ASX: VOC) price target 3.8% to $8.30, according to Dow Jones Newswires.
