The S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) is expected to trade lower today following mixed leads from international markets.
Here's a recap:
- FTSE 100 (UK): down 0.64%
- DAX (Germany): down 0.68%
- CAC 40 (France): down 0.53%
- Dow Jones (USA): down 0.48%
- NASDAQ (USA): up 0.29%
In London, the FTSE 100 opened higher but was dragged lower as Tuesday progressed. FTSE-listed shares of BHP Billiton Limited (ASX: BHP) and Rio Tinto Limited (ASX: RIO) ended 2% lower and 2.4% higher, respectively.
US markets trended lower following weak economic data, but the prospect of a Fed interest rate increase moved the US dollar higher against a basket of currencies. US shares in the healthcare and technology sectors were the best-performing.
The Australian dollar strengthened against the greenback, climbing 0.52% to US72.32 cents. Closer to home, the Sydney Futures Exchange is tipping a 24-point, or 0.4%, fall in the S&P/ASX 200.
Shares in focus will include 3P Learning Ltd (ASX: 3PL). This morning, the digital learning business issued a trading update to the market saying earnings have been impacted by lower than anticipated sales growth, with total revenue expected to be between $48 million and $49 million. The company will incur $2.1 million of exceptional items.
On a positive note, the company announced its new CEO, Rebekah O'Flaherty, will commence in the role today, 1 June 2016.
Clearview Wealth Ltd (ASX: CVW) shares will also be in focus. This morning, the diversified financial services business announced the successful completion of the institutional component of its $50 million capital raising.
Finally, in broker news:
- Bell Potter analysts raised their Patties Foods Limited (ASX: PFL) price target 14% to $1.65;
- Citi analysts lifted their Orocobre Limited (ASX: ORE) price target 5.7% to $2.22; and
- UBS analysts downgraded CSL Limited (ASX: CSL) from 'buy' to 'hold' with a $126 price target, according to Dow Jones Newswires.
