The local S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) is expected to remain mostly flat at the open again today following what proved to be another mixed night for global equity markets. Another downgrade by the International Monetary Fund's outlook for global growth may also impact investor sentiment.
Here's a quick recap:
- FTSE 100 (UK): up 0.03%
- DAX (Germany): down 0.81%
- CAC 40 (France): down 0.63%
- Dow Jones (USA): up 0.14%
- NASDAQ (USA): down 0.38%
The London-listed shares of BHP Billiton Limited (ASX: BHP) and Rio Tinto Limited (ASX: RIO) fell 2.8% and 3.3% overnight, suggesting a tough day ahead for those miners. Then again, BHP will report its full-year operational review which could provide it with some support, depending on the results.
South32 Ltd's (ASX: S32) London shares fell sharply as well, so that miner may experience more turbulence today as well.
Gold miner St Barbara Ltd (ASX: SBM) released its June quarterly report after the market closed yesterday. The miner confirmed that production at Gwalia and Simeri both exceeded the upper end of guidance for financial year 2016.
Cimic Group Ltd (ASX: CIM) also released its half-year report after the market's close, with net profit up 3.1% on the prior corresponding period. It also confirmed it full-year earnings guidance.
Retail investors will be hoping for further gains in shares of JB Hi-Fi Limited (ASX: JBH) today. The group's shares have risen almost 5% so far this week, perhaps boosted by speculation regarding its bid to acquire rival The Good Guys.
Health and insurance investors, on the other hand, will be hopeful shares of Medibank Private Ltd (ASX: MPL) can stem their losses after dropping almost 4% on Tuesday.
Elsewhere, XERO FPO NZX (ASX: XRO) will be in focus. The New Zealand-based accounting software platform provider will hold its annual general meeting at 9am AEST today.
Retail Food Group Limited (ASX: RFG) responded to speculation concerning its potential interest in rival Eagle Boys Brand System. The company confirmed it is not currently engaged in any discussions with the owners or administrators of the system. However, the company also didn't rule out a potential acquisition if it would be earnings-per-share accretive and be capable of generating increased supply-side scale.
Similarly, Domino's Pizza Enterprises Ltd. (ASX: DMP) shares rose on Tuesday following similar speculation. The company may choose to address that speculation today as well.
