The S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) is expected to trade lower today following negative leads from international markets.
Here's a recap:
- FTSE 100 (UK): down 2.55%
- DAX (Germany): down 3.02%
- CAC 40 (France): down 2.97%
- Dow Jones (USA): down 1.50%
- NASDAQ (USA): down 2.41%
In London, it was the second day of trading since the country's historic Brexit vote. The FTSE 100 trended consistently lower as the day progressed with banks and financial shares getting swamped. Barclays and Royal Bank of Scotland Group shares fell 17% and 15%, respectively — taking their two-day falls to more than 30%.
FTSE-listed shares of BHP Billiton Limited (ASX: BHP) and Rio Tinto Limited (ASX: RIO) ended 0.7% lower and 0.4% higher, respectively.
Across the pond, US markets followed their European counterparts in responding to the Brexit decision. Once again, financial shares experienced the greatest falls. The utilities sector was best performing.
Closer to home, the Sydney Futures Exchange is tipping a 67-point, or 1.3%, fall in the S&P/ASX 200.
Shares in focus will include QBE Insurance Group Ltd (ASX: QBE). Yesterday, QBE shares slumped nearly 7% after the insurer issued a response to the UK referendum stating it foresees no material impact to day-to-day operations.
This morning, EVOLUTION FPO (ASX: EVN) released its preliminary results for its 2016 financial year and updated guidance. For FY16 Evolution reported gold production of 800,000 ounces at an all-in sustaining cost (AISC) of $US728 per ounce.
Cimic Group Ltd (ASX: CIM) announced its subsidiary, Leighton India Contractors, entered into an alliance agreement to deliver phases two and three of the Maker Maxity project in Mumbai, India.
Collins Foods Ltd (ASX: CKF) announced its results for FY16 with revenue up 0.5% and underlying profit up 22.3%.
Finally, MG Unit Trust (ASX: MGC) forecast the Available Southern Milk Region Farmgate Milk Price for FY17 at $4.80 per kilogram milk solids.
In broker news:
- RBC Capital Markets raised their Woodside Petroleum Limited (ASX: WPL) price target 3.7% to $28;
- Citi analysts downgraded shares of Henderson Group plc (ASX: HGG) to 'neutral' from 'buy' with a $4 price target;
- UBS analysts cut their Coca-Cola Amatil Ltd (ASX: CCL) price target 16% to $7.90, according to Dow Jones Newswires.
