International equity markets faltered overnight on the back of mixed corporate earnings in the United States. The S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) is expected to follow on when it opens this morning with the Sydney Futures Exchange pointing to a 32 point or 0.6% dip at the opening bell.
Here's a quick recap:
- FTSE 100 (UK): down 0.43%
- DAX (Germany): up 0.14%
- CAC 40 (France): down 0.08%
- Dow Jones (USA): down 0.42%
- NASDAQ (USA): down 0.31%
The commodities sector seems likely to produce mixed results today after iron ore and gold rose, while oil prices dropped.
That could suggest a rebound for gold miners such as St Barbara Ltd (ASX: SBM) and Northern Star Resources Ltd (ASX: NST) after yesterday's heavy losses. It could also indicate a tougher day for energy producers such as Woodside Petroleum Limited (ASX: WPL) and Santos Ltd (ASX: STO).
The iron ore sector will be in focus as well after Vale reported output that exceeded estimates. Rising supplies could act as a drag on the iron ore price in the long-run, which doesn't bode well for BHP Billiton Limited (ASX: BHP) or Rio Tinto Limited (ASX: RIO), amongst others.
Elsewhere in the market, Gage Roads Brewing Co Limited (ASX: GRB) reported its results for the fourth quarter and announced it has returned to full-year profitability.
Foreign exchange giant OzForex Group Ltd (ASX: OFX) has appointed Mr Steven Sargent as its new Chairman. He will begin the role following the release of the first-half results in November.
Telecommunications business Vocus Communications Limited (ASX: VOC) announced after the market closed yesterday that it had successfully completed the retail entitlement offer in which 68% of available entitlements were taken up.
Meanwhile, shareholders of Silver Chef Limited (ASX: SIV) will be hopeful their shares can regain some composure after their sharp fall on Thursday. The shares closed 16.7% lower, presumably due to management's guidance for lacklustre growth in net earnings in financial year 2017 (FY17) following strong growth in FY16.
Other businesses that investors may take a look at today include Nanosonics Ltd. (ASX: NAN) and Somnomed Limited (ASX: SOM). The pair lifted strongly yesterday after producing encouraging earnings results.
