The S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) is expected to trade lower today following negative leads from international markets overnight.
Here's a recap:
- Dow Jones (USA): down 0.6%
- NASDAQ (USA): down 0.8%
- FTSE 100 (UK): down 1.2%
- DAX (Germany): down 1.0%
- CAC 40 (France): down 1.1%
In London, mining shares again dragged the market lower while copper prices continued their fallout from China's poor manufacturing data earlier in the week. FTSE-listed shares of BHP Billiton Limited (ASX: BHP) and Rio Tinto Limited (ASX: RIO) fell 5.6% and 1.4%, respectively.
Declines in the energy and materials sectors pushed US markets lower on Wednesday. However, Twitter shares were a standout performer, rising 6%.
Closer to home, the Sydney Futures Exchange is tipping a 13-point, or 0.2%, fall in the S&P/ASX 200.
Shares in focus will include National Australia Bank Ltd. (ASX: NAB). This morning, Australia's third largest bank released its half-year report for the period ended 31 March 2016. NAB reported a 4.5% fall in revenue to $8.96 billion and a net loss of $1.74 billion, down 150%. Excluding the losses associated with the demerger of Clydesdale Bank (ASX: CYB), NAB's profit would have been 2.4% higher.
Sky Network Television Ltd (ASX: SKT) shares will also be in focus. The New Zealand-based pay-tv operator said it signed an agreement to secure the NRL rights for five years from 2018.
Scentre Group Ltd (ASX: SCG), the Australian arm of Westfield, provided a first quarter trading update with comparable specialty sales up 4.5% and 99.5% leasing rates.
BT Investment Management Ltd (ASX: BTT) released its half-year report through March 2016 showing a 30.5% rise in revenue and 26% increase in profit. An interim dividend of 18 cents per share was declared.
Super Retail Group Ltd (ASX: SUL) released a trading update showing like-for-like sales growth across Auto, Leisure and Sports retailing for the 44 weeks to 30 April 2016. However, the company said it will recognise $43 million of transformation costs in its 2015/16 accounts.
Finally, in broker news, Credit Suisse analysts raised their ASX Ltd (ASX: ASX) price target 3.6% to $43 while Canaccord Genuity raised their OceanaGold Corporation (ASX: OGC) price target 8.1% to $4, according to Dow Jones Newswires.
