The S&P/ASX 200 (Index: ^AJXO) (ASX: XJO) is expected to trade firmly lower following weak leads from international markets overnight.
Here's a recap:
- Dow Jones (USA): closed
- NASDAQ (USA): closed
- FTSE 100 (UK): down 0.42%
- DAX (Germany): down 0.25%
- EURO STOXX 50 (Europe): down 0.58%
- Shanghai Composite (China): up 0.47%
US markets were closed yesterday for the Martin Luther King, Jr. public holiday. Meanwhile, on European markets, further oil supply concerns from Iran saw oil prices fall below $US28 a barrel to rattle markets. FTSE-listed shares of BHP Billiton Limited (ASX: BHP) and Rio Tinto Limited (ASX: RIO) again closed lower, down 1% and 0.86%, respectively.
Closer to home, the Sydney Futures Exchange is tipping a 31-point, or 0.6%, fall in the S&P/ASX 200.
Rio Tinto shares will be in focus. The world's second-largest iron ore miner reported its fourth quarter production results today, showing an 11% increase in iron ore shipments, 13% drop in mined copper and 4% increase in bauxite.
Like its two domestic rivals, BHP and Fortescue Metals Group Limited (ASX: FMG), Rio Tinto's share price has fallen heavily in recent times following major routs in commodity prices.
New Zealand's Mighty River Power Ltd. (ASX: MYT) announced the acquisition of What Power Crisis (WPC), a leading solar energy business. SKYCITY Entertainment Group Limited-Ord (ASX: SKC) updated the market on its half-year expectations, saying its profit will be between 25% and 29% higher, year-over-year.
Yesterday evening, law firm Shine Corporate Ltd (ASX: SHJ) announced it is conducting a review of its profit expectations and forecast a "material" reduction to previous FY16 forecasts. National Australia Bank Ltd. (ASX: NAB) also released the key details of its long-awaited demerger of the Clydesdale and Yorkshire Banking Group yesterday evening.
Finally, toll road operator Transurban Group (ASX: TCL) released its quarterly traffic statistics showing a 16% increase in proportional toll revenue compared to the prior period.
