The Newcrest Mining Limited (ASX: NCM) share price, together with shares of other gold miners such as St Barbara Ltd (ASX: SBM) and Evolution Mining Ltd (ASX: EVN), could be in focus today after the gold price fell more than 1% overnight. The market as a whole could slip as well following a mostly down night for international markets.
Here's a quick recap:
- FTSE 100 (UK): down 0.01%
- DAX (Germany): down 0.06%
- CAC 40 (France): up 0.06%
- Dow Jones (USA): down 0.53%
- NASDAQ (USA): down 0.73
The gold price has seen plenty of movement so far in 2017. It was back down to US$1,232 an ounce overnight which could weigh on the gold stocks.
That comes after a resurgence in the US dollar, with the Australian dollar slipping more than 1% to US75.64 cents.
Iron ore miners Rio Tinto Limited (ASX: RIO) and BHP Billiton Limited (ASX: BHP) could receive some support from a 1.2% lift in the iron ore price, although the latter could also be weighed down by a 2% fall in oil prices.
Outside the resources sector, the Slater & Gordon Limited (ASX: SGH) share price will be back in focus today. The shares shed more than half of their value between Monday and Wednesday, only to rebound more than 40% on Thursday. However, investors ought to remain very cautious when approaching SGH shares, with the company facing a very real fight for its survival.
The Telstra Corporation Ltd (ASX: TLS) share price has also fallen sharply and yesterday hit its lowest price since 2013. Investors will be hopeful for a turnaround in the telco's shares, although it appears it would need to defy the market's general downwards movement today in order to do so.
Other companies worth watching today include Spotless Group Holdings Ltd (ASX: SPO), which rebounded yesterday following a sharp drop, as well as South32 Ltd (ASX: S32), whose share price surged 9.2% on Thursday.
Before getting started on your day, be sure to check out these two articles:
