The futures market is pointing to a small retreat for the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) when trading opens, despite a strong jump in iron ore prices overnight.
Here's a quick recap:
- FTSE 100 (UK): down 0.15%
- DAX (Germany): down 0.64%
- CAC 40 (France): down 0.82%
- Dow Jones (USA): Closed
- NASDAQ (USA): Closed
Wall Street was closed overnight for Martin Luther King Day. Elsewhere, major equity markets around the world were mostly lower while the Australian dollar fell to US74.79 cents.
One plus was that iron ore prices jumped nearly 4%. Fortescue Metals Group Limited (ASX: FMG), BHP Billiton Limited (ASX: BHP) and Rio Tinto Limited (ASX: RIO) all recorded decent gains on Monday, and will look to continue that form during today's session.
Rio Tinto also released its fourth quarter production results this morning. Iron ore shipments were 1% higher over the prior corresponding period, while production rose 4%.
Small-cap chocolate business Yowie Group Ltd (ASX: YOW) addressed speculation regarding the continued availability of its product at Walmart stores in the US after its shares plunged as much as 16% on Monday, although they closed just 2.4% lower for the session. Yowie said Walmart does continue to stock its product.
Two other companies that may receive some attention today are Sirtex Medical Limited (ASX: SRX) and Primary Health Care Limited (ASX: PRY). Both shares fell slightly on Monday after losing their respective CEOs after the market closed on Friday.
Nanosonics Ltd. (ASX: NAN) could also be in focus. Its shares rose strongly on Monday following another strong quarterly results announcement.
