The S&P/ASX 200 (Index: ^AXJO)(ASX: XJO) is expected to open lower on Wednesday, with shares of Commonwealth Bank of Australia (ASX: CBA) and Westpac Banking Corp (ASX: WBC) in focus.
Here's a quick recap of global markets:
- FTSE 100 (UK): up 0.6%
- DAX (Germany): up 0.4%
- CAC 40 (France): up 0.3%
- Dow Jones (USA): down 0.2%
- NASDAQ (USA): down 0.1%
In London, shares ended higher following a rally in mining shares. FTSE-listed shares of BHP Billiton Limited (ASX: BHP) and Rio Tinto Limited (ASX: RIO) ended 2.1% and 1.1% higher, respectively.
Across the pond, US markets ended lower despite reaching a new high during the period. Falling oil prices weighed on the energy sector.
Closer to home, the ASX 200 is expected to open slightly lower today, following a release of the Government's 2017 Budget overnight.
Shares in focus will include CBA, Westpac, Australia and New Zealand Banking Group (ASX: ANZ), National Australia Bank Ltd. (ASX: NAB) and Macquarie Group Ltd (ASX: MQG). As part of the Government's Budget, a tax of 0.06% will be imposed on the Big Banks.
In other news, CSR Limited (ASX: CSR) announced that its full-year revenue rose 7% to $2.46 billion with profit up 25%.
Also in focus, Boart Longyear Ltd. (ASX: BLY) shares have entered a trading halt pending a Supreme Court announcement into a scheme by its creditors for the company's recapitalisation.
News Corp (ASX: NWS) reported a 5% rise in third-quarter sales and a break-even operating profit result, up from a $128 million loss last year.
REA Group Limited (ASX: REA) shares will also be in focus following a promising third quarter profit result. The owner of realestate.com.au reported revenue up 16% with operating profit up 20%.
Finally, Goldman Sachs analysts downgraded Fairfax Media Limited (ASX: FXJ) shares to 'neutral' from 'buy'.
