The S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) is expected to trade lower today following mixed leads from international markets on Friday.
Here's a recap:
- Dow Jones (USA): up 0.11%
- NASDAQ (USA): down 0.14%
- FTSE 100 (UK): down 1.49%
- DAX (Germany): down 1.71%
- CAC 40 (France): down 2.13%
In Europe, shares capped off last week in poor fashion, falling more than 1% as resources companies tumbled lower. FTSE-listed shares of BHP Billiton Limited (ASX: BHP) and Rio Tinto Limited (ASX: RIO) fell 2.15% and 3.4%, respectively.
In the US, markets ended mostly flat, having rallied more than 5% during March.
Closer to home, the Sydney Futures Exchange is tipping a 12-point, or 0.2%, fall in the S&P/ASX 200.
Shares in focus will include Carsales.Com Ltd (ASX: CAR). This morning, the leading automotive listing site announced the acquisition of a controlling stake in Chileautos, the number-one classifieds website in Chile. Carsales.Com will own 83% of the business, while existing owners will retain 17%. The initial investment cost Carsales US$15 million.
Medibank Private Ltd (ASX: MPL) this morning announced the appointment of Craig Drummond as Managing Director and CEO. Most recently, Mr Drummond was Group Executive, Finance and Strategy at National Australia Bank Ltd. (ASX: NAB). Medibank Chair, Elizabeth Alexander AM, said, "The Board is delighted an executive of Craig's calibre has agreed to lead Medibank."
Finally, in broker news, analysts at Deutsche Bank raised their price target on shares of Commonwealth Bank of Australia (ASX: CBA) 5.1% to $78, while Credit Suisse analysts cut their Woodside Petroleum Limited (ASX: WPL) price target 1.6% to $27.10, according to Dow Jones Newswires.
