The S&P/ASX 200 (Index: ^AXJO)(ASX: XJO) is expected to open flat on Wednesday, with shares of Fairfax Media Limited (ASX: FXJ) and Downer EDI Limited (ASX: DOW) in focus.
Here's a quick recap of global markets:
- FTSE 100 (UK): up 0.6%
- DAX (Germany): up 0.6%
- CAC 40 (France): up 0.7%
- Dow Jones (USA): up 0.2%
- NASDAQ (USA): up 0.1%
In London, shares ended higher ahead of this weekend's French elections. FTSE-listed shares of BHP Billiton Limited (ASX: BHP) and Rio Tinto Limited (ASX: RIO) ended 0.7% and 0.6% lower, respectively.
Across the pond, US markets ended higher with the healthcare and telco sector pushing higher. Apple Inc shares are expected to fall 2% when trading resumes following a worse than expected drop in quarterly iPhone sales.
Closer to home, the ASX 200 is expected to open mostly flat.
Shares in focus will include QBE Insurance Group Ltd (ASX: QBE), with the insurer's annual general meeting (AGM) being held today.
The Fairfax Media share price may also come under pressure today following a decision by the New Zealand Commerce Commission to decline to authorise the merger of Fairfax New Zealand and NZME LTD FPO NZX (ASX: NZM), a Kiwi media business, citing competition concerns.
The owner of Dodo and other telecommunications brands, Vocus Group Ltd (ASX: VOC) shares will likely be sold down today after the company released a downgraded profit guidance after the market closed yesterday.
Amcor Limited (ASX: AMC) announced an acquisition in Colombia, expanding its presence and offering in the Latin American market.
Genworth Mortgage Insurance Australia (ASX: GMA) reported its first quarter profit showing a 22% fall in net profit.
Meanwhile, the takeover offer from Downer EDI has been rejected by the board of Spotless Holdings Ltd (ASX: SPO) with the company calling it, "opportunistic and timed to take advantage of a historical Spotless share price low".
Finally, analysts at Shaw & Partners raised their Australia and New Zealand Banking Group (ASX: ANZ) price target 11% to $32.60, according to Dow Jones Newswires.
