Oil prices recovered overnight, but that's unlikely to keep the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) from falling. The ASX futures are pointing to a sharp drop at the open, following in the footsteps of international markets overnight ahead of the U.S. presidential debate.
Here's a quick recap:
- FTSE 100 (UK): down 1.32%
- DAX (Germany): down 2.19%
- CAC 40 (France): down 1.8%
- Dow Jones (USA): down 0.91%
- NASDAQ (USA): down 0.91%
Global banks were sold off overnight. Deutsche Bank, for instance, plunged 7.1%, while Wells Fargo & Co lost 1.9%. As such, Commonwealth Bank of Australia (ASX: CBA), National Australia Bank Ltd. (ASX: NAB), Westpac Banking Corp (ASX: WBC) and Australia and New Zealand Banking Group (ASX: ANZ) could be ones to watch today.
Woolworths Limited (ASX: WOW) and BHP Billiton Limited (ASX: BHP) are two more blue-chips worth keeping an eye on. Woolworths shares were sold off on Monday, while BHP could come under pressure as well after its London-listed shares fell 0.7% overnight.
SAI Global Limited (ASX: SAI) shares soared almost 29% on Monday after it confirmed a takeover offer, although the shares should cool down today.
Meanwhile, shares of Iress Ltd (ASX: IRE) and Cover-More Group Ltd (ASX: CVO) are expected to remain in a trading halt. Iress announced the acquisition of Financial Synergy, while Cover-More also announced an acquisition and capital raising.
Surfstitch Group Ltd (ASX: SRF) will likely be in focus after its CFO resigned late on Monday afternoon, adding to the red flags surrounding the online retail business.
