The S&P/ASX 200 (Index: ^AJXO) (ASX: XJO) is expected to trade firmly lower following poor leads from international markets on Friday.
Here's a recap:
- Dow Jones (USA): down 1.02%
- NASDAQ (USA): down 0.98%
- FTSE 100 (UK): down 0.70%
- DAX (Germany): down 1.31%
- EURO STOXX 50 (Europe): down 1.50%
- Shanghai Composite (China): up 1.97%
For the first week of trading in the US, shares closed down more than 6%. Oil prices, North Korean and Middle Eastern geopolitical tensions and economic concerns from China each played their part in taking markets lower.
In Europe, markets again closed down with FTSE-listed shares of BHP Billiton Limited (ASX: BHP) ending 3.2% lower. Rival Rio Tinto Limited (ASX: BHP) ended up 0.16%.
Closer to home, the Sydney Futures Exchange is tipping an 80-point, or 1.6%, drop in the S&P/ASX 200 today.
Recent weakness in oil prices, which pushed the commodity to a 12-year low last week, will mean shares of oil producers such as BHP, Woodside Petroleum Limited (ASX: WPL), Santos Ltd (ASX: STO) and Oil Search Limited (ASX: OSH) will again be in focus this week.
This morning, Origin Energy Ltd (ASX: ORG), another company that has been hit hard by the recent commodity price rout, confirmed the first shipment of liquefied natural gas (LNG) from the Australia Pacific LNG project on Curtis Island. Managing Director, Grant King, described it as, "a landmark moment in the history of Origin."
Mid-cap gold miner, Saracen Mineral Holdings Limited (ASX: SAR), updated the market on its first-half 2016 production performance. Saracen exceeded first-half production forecasts of 80,000 ounces to produce 82,405 ounces in the six months through December.
Shipbuilder, Austal Limited (ASX: ASB), announced the resignation of CEO and Managing Director, Andrew Bellamy, after five years of service. David Singleton has been selected to succeed Mr Bellamy at the end of April 2016.
iSelect Limited (ASX: ISU) lowered its full-year normalised profit outlook to between $15 million and $18 million, before taxes and interest expenses. Moreover, the company said it'll seek shareholder approval to increase its share buyback program at an upcoming general meeting.
