The Sydney Futures Exchange is pointing to a 0.3% decline when the market opens this morning ahead of what could be another uncertain week for investors.
Here's a quick recap:
- FTSE 100 (UK): down 1.43%
- DAX (Germany): up 0.36%
- CAC 40 (France): down 0.92%
- Dow Jones (USA): up 0.21%
- NASDAQ (USA): up 0.54%
Resources shares will be front and centre on the market's agenda today after some stunning moves in resources prices during the latest session.
Iron ore soared an incredible 7.7% to almost US$80 a tonne, according to The Metal Bulletin. Fortescue Metals Group Limited (ASX: FMG) and Rio Tinto Limited (ASX: RIO) would be expected to benefit from that rapid price rise.
BHP Billiton Limited (ASX: BHP) will likely also benefit, although it – together with Santos Ltd (ASX: STO), Woodside Petroleum Limited (ASX: WPL) and other energy producers – could be weighed down by a dip in oil prices.
Gold miners such as Newcrest Mining Limited (ASX: NCM) and EVOLUTION FPO (ASX: EVN) could be sold down heavily today as well. The spot gold price plummeted another 2.5% to just US$1,227.85 an ounce.
Meanwhile, the Australian dollar has fallen to US75.43 cents.
Other companies that fluctuated wildly last week are bound to receive some more attention today. Sydney Airport Holdings Ltd (ASX: SYD) and Transurban Group (ASX: TCL) were put on the chopping block by investors fearing higher interest rates. The opposite held true for QBE Insurance Group Ltd (ASX: QBE) and Computershare Limited (ASX: CPU) which would both benefit from higher interest rates in the United States.
Retail giant Harvey Norman Holdings Limited (ASX: HVN) will also hold its annual general meeting in Sydney today, and could thus receive some attention from investors.
