Investors could be given some reprieve today with the local market tipped to open flat after a heavy selloff so far this week.
The Sydney Futures Exchange is pointing to a 3-point rise when the market reopens at 10am AEDT, following a mostly flat night for equity markets around the globe. The Dow Jones rose 0.2% and the NASDAQ fell 0.2%, while London's FTSE 100 also fell 0.3%.
Westpac Banking Corp (ASX: WBC) could come under pressure today with the stock going ex-dividend. Investors who own the shares leading into today's session will be entitled to a 94 cent per share fully franked dividend, which they will receive on Monday December 21, 2015.
Westpac's rival Australia and New Zealand Banking Group (ASX: ANZ), on the other hand, could find some support after UBS upgraded its rating from "neutral" to "buy", suggesting the bank's shares have become oversold. The stock is trading near its lowest price since 2013.
Shareholders of BHP Billiton Limited (ASX: BHP) will continue to wait in angst for further details regarding the company's catastrophic dam disaster in Brazil on Friday. The shares have shed more than 7% since the incident, although they regained some composure during yesterday's session.
Telecommunications giant TPG Telecom Ltd (ASX: TPG) has entered a trading halt after launching a $300 million underwritten placement, which it will use partly repay the acquisition debt and to minimise the overall cost of funding.
Fortescue Metals Group Limited (ASX: FMG) has also announced a US$750 million debt repayment offer to accelerate its debt repayment programme.
Fortescue will also hold its annual general meeting in Perth today, as will Navitas Limited (ASX: NVT). Computershare Limited (ASX: CPU) will hold its own AGM in Melbourne, with the companies likely to shed light on their performance so far this year.
Elsewhere, Webjet Limited (ASX: WEB) is set for a good day after the company said it was targeting 20% earnings before interest, tax, depreciation and amortisation (EBITDA) growth compared to last year. It expects EBITDA to be $33.5 million, reflecting "strong growth" in all of its business units.
Meanwhile, all eyes will be on baby formula company Bellamy's Australia Ltd (ASX: BAL) after recording enormous gains over the last fortnight or so. The shares have soared on the back of skyrocketing demand for its products, especially in the lead-up to China's online sales event known as 'Singles Day', which will happen today.
