Wall Street fell again overnight as did European markets, and the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) is expected to follow. The Sydney Futures Exchange is pointing to a 36 point fall in the index at the open.
Here's an overnight recap:
- FTSE 100 (UK): down 0.5%
- DAX (Germany): down 1.3%
- CAC 40 (France): down 0.9%
- Dow Jones (USA): down 0.6%
- S&P 500 (USA): down 0.7%
- NASDAQ (USA): down 0.7%
Iron ore miners Rio Tinto Limited (ASX: RIO), BHP Billiton Limited (ASX: BHP), Fortescue Metals Group Limited (ASX: FMG) and a host of juniors including Atlas Iron Limited (ASX: AGO) could see their share prices rise again, as the spot iron ore price rose 1.5% overnight. The commodity has now added more than 10% in the past seven trading days.
Gold stocks Northern Star Resources Ltd (ASX: NST), Newcrest Mining Limited (ASX: NCM) and Evolution FPO (ASX: EVN) and many of the juniors could see price gains after spot gold gained 1.1% overnight to US$1,291 an ounce.
Harvey Norman Holdings Ltd (ASX: HVN) could come under pressure after proxy firm Ownership Matters recommended fund managers vote against accepting the company's accounts when it holds its AGM on November 14.
Woolworths Limited (ASX: WOW) and Wesfarmers Ltd (ASX: WES) could also see some selling with news out that that Aldi plans to spend more than $1 billion over three years to revamp its east coast stores and upgrade its fresh food range.
Australia and New Zealand Banking Group (ASX: ANZ) is reportedly considering selling its minority stakes in one or two Asian banks as it continues to retreat from its "Super-regional" strategy.
