Oil prices tumbled overnight which will likely put the energy sector back in the spotlight today.
Here's a quick recap:
- FTSE 100 (UK): up 0.04%
- DAX (Germany): down 0.17%
- CAC 40 (France): down 0.08%
- Dow Jones (USA): up 0.34%
- NASDAQ (USA): up 0.69%
Overnight, oil prices plunged more than 5% after the Organisation of Petroelum Exporting Countries, otherwise known as OPEC, extended its supply cuts by nine months, according to Bloomberg.
Although oil prices remain well above the low levels they sunk to early last year, the overnight decline is still likely to hurt the energy businesses. Thus, it's worth watching the Woodside Petroleum Limited (ASX: WPL) share price today, along with the share prices of other energy plays such as Origin Energy Ltd (ASX: ORG) and Santos Ltd (ASX: STO).
Also in the commodities space, the iron ore price shed 0.5%, according to The Metal Bulletin, and gold fell 0.2%.
Elsewhere, the Ansell Limited (ASX: ANN) share price could remain in focus after the company announced the sale of its Sexual Wellness business on Thursday, prompting a rise in its shares.
Automotive Holdings Group Ltd (ASX: AHG), on the other hand, plunged following a disappointing trding update, and could receive more attention today.
It will also be worth keeping an eye on the embattled retail sector. Myer Holdings Ltd (ASX: MYR) led a downwards march by the retailers on Thursday after one of its partly-owned subsidiaries went into administration, with Myer pulling other retailers such as JB Hi-Fi Limited (ASX: JBH) along for the ride.
Before getting started on your day, be sure to check out these two articles:
