The S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) is expected to trade lower today following mixed leads from international markets overnight.
Here's a recap:
- Dow Jones (USA): down 0.45%
- NASDAQ (USA): down 1.1%
- FTSE 100 (UK): up 0.10%
- DAX (Germany): up 0.33%
- CAC 40 (France): down.18%
In Europe, major markets bucked off concerns from the Brussels incident earlier in the week to post gains. In London, renewed fears of a Brexit (Britain exciting the Eurozone) saw the British pound fall against the basket of major currencies. As a result mining shares were sold down. FTSE-listed shares of BHP Billiton Limited (ASX: BHP) and Rio Tinto Limited (ASX: RIO) fell 1.85% and 1.46%, respectively.
In the US, technology shares weighed on markets with the NASDAQ falling more than 1%. Shares of Apple Inc, Alphabet Inc (formerly Google), Microsoft and Twitter fell – the latter by more than 5%.
Closer to home, the Sydney Futures Exchange is tipping a 34-point, or 0.6%, fall in the S&P/ASX 200.
Shares in focus will include Australia and New Zealand Banking Group (ASX: ANZ). This morning, the retail banking behemoth updated the market on its expected credit quality. It said it expects credit charges to rise from $800 million, reported 17 February 2016, by at least another $100 million. While the size of the increase isn't a game-changer for ANZ, investors will no doubt be questioning whether the banking cycle is finally turning down.
Meanwhile, Santos Ltd (ASX: STO) notes ENN Group's acquisition of Hony Capital's 11.7% shareholding in the oil and gas giant. ENN Group agreed to buy the "strategic stake" in Santos for $US750 million.
Junior technology business, Infomedia Limited (ASX: IFM), announced the appointment of Mr Richard Leon as Chief Financial Officer following the resignation of Mr Russell King. Mr Leon was previously CFO of Altium Limited (ASX: ALU) from 2008 to 2015.
Finally, in broker news, Goldman Sachs analysts raised their price target on TPG Telecom Ltd (ASX: TPM) 3.5% to $11.70 while Morgans analysts cut their price target on Kathmandu Holdings Ltd (ASX: KMD) shares 3.5% to $1.66, according to Dow Jones Newswires.
