ASX 200 set to drop: 12 shares to watch today

International equity markets faltered overnight on the back of mixed corporate earnings in the United States. The S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) is expected to follow on when it opens this morning with the Sydney Futures Exchange pointing to a 32 point or 0.6% dip at the opening bell.

Here’s a quick recap:

  • FTSE 100 (UK): down 0.43%
  • DAX (Germany): up 0.14%
  • CAC 40 (France): down 0.08%
  • Dow Jones (USA): down 0.42%
  • NASDAQ (USA): down 0.31%

The commodities sector seems likely to produce mixed results today after iron ore and gold rose, while oil prices dropped.

That could suggest a rebound for gold miners such as St Barbara Ltd (ASX: SBM) and Northern Star Resources Ltd (ASX: NST) after yesterday’s heavy losses. It could also indicate a tougher day for energy producers such as Woodside Petroleum Limited (ASX: WPL) and Santos Ltd (ASX: STO).

The iron ore sector will be in focus as well after Vale reported output that exceeded estimates. Rising supplies could act as a drag on the iron ore price in the long-run, which doesn’t bode well for BHP Billiton Limited (ASX: BHP) or Rio Tinto Limited (ASX: RIO), amongst others.

Elsewhere in the market, Gage Roads Brewing Co Limited (ASX: GRB) reported its results for the fourth quarter and announced it has returned to full-year profitability.

Foreign exchange giant OzForex Group Ltd (ASX: OFX) has appointed Mr Steven Sargent as its new Chairman. He will begin the role following the release of the first-half results in November.

Telecommunications business Vocus Communications Limited (ASX: VOC) announced after the market closed yesterday that it had successfully completed the retail entitlement offer in which 68% of available entitlements were taken up.

Meanwhile, shareholders of Silver Chef Limited (ASX: SIV) will be hopeful their shares can regain some composure after their sharp fall on Thursday. The shares closed 16.7% lower, presumably due to management’s guidance for lacklustre growth in net earnings in financial year 2017 (FY17) following strong growth in FY16.

Other businesses that investors may take a look at today include Nanosonics Ltd. (ASX: NAN) and Somnomed Limited (ASX: SOM). The pair lifted strongly yesterday after producing encouraging earnings results.

Discover How 1 Man Turned $10K Into Over $8 Million

Discover how one man turned a modest $10,600 investment into an $8,016,867 fortune. Learn more about this man and how you can start down the path toward financial independence. Simply click here to learn more.

Motley Fool contributor Ryan Newman has no position in any stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

HOT OFF THE PRESSES: My #1 Dividend Pick for 2017!

With its shares up 155% in just the last five years, this ‘under the radar’ consumer favourite is both a hot growth stock AND our expert’s #1 dividend pick for 2017. Now we’re pulling back the curtain for you... And all you have to do to discover the name, code and a full analysis is enter your email below!

Simply enter your email now to receive your copy of our brand-new FREE report, “The Motley Fool’s Top Dividend Stock for 2017.”

By clicking this button, you agree to our Terms of Service and Privacy Policy. We will use your email address only to keep you informed about updates to our website and about other products and services we think might interest you. You can unsubscribe from Take Stock at anytime. Please refer to our Financial Services Guide (FSG) for more information.