Morning market movers: 13 stocks to watch

The local S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) is expected to open the day lower following falls in key commodity prices overnight.

On Tuesday, US economic data and some above-average earnings reports from major corporations saw the Dow Jones rise 0.12%. European shares closed higher; Paris’ CAC 40, Germany’s DAX and the UK’s FTSE 100 each closed above 2%.

On the back of demand concerns from China, the price of iron ore fell 4.5% to a four-month low of $US43.57 per tonne. Despite the renewed concerns, however, London-listed shares of Rio Tinto Limited (ASX: RIO) and BHP Billiton Limited (ASX: BHP) closed firmly higher.

Nonetheless, along with smaller iron ore producers such as Fortescue Metals Group Limited (ASX: FMG), both BHP and Rio may come under selling pressure as local investors react to the news.

A further 2.2% fall in the Brent crude oil could also place more pressure on the already depressed share prices of energy stocks such as Woodside Petroleum Limited (ASX: WPL), Oil Search Limited (ASX: OSH) and Santos Ltd (ASX: STO). Gold prices fell 0.9% to US$1,073.20 per ounce.

In company-specific news, Orica Ltd (ASX: ORI) has released its full-year results this morning, showing a loss of $1.26 billion. Excluding material items, the company says underlying profit came in 26% lower than last year at $424 million.

DUET Group (ASX: DUE) and Netcomm Wireless Ltd (ASX: NTC) are holding their Annual General Meetings today. Netcomm, a junior machine-to-machine (M2M) technology developer said its outlook is, “extremely good – never been stronger in fact.”

Sims Metal Management Ltd (ASX: SGM) updated the market on its 2016 financial year outlook, telling investors that it’s first-half underlying earnings before taxes and interest (EBIT) charges will be “around break-even.”

Small-cap payday lender and automotive financier, Money3 Corporation Ltd (ASX: MNY) today announced it’ll exit the unsecured Small Amount Credit Contract (SACC) lending business by before July 2016 to focus on its faster-growing secured business.

In broker news, according to Fairfax media, Canaccord has maintained its buy rating on Indian sandalwood business, TFS Corporation Limited (ASX: TFC), and Bell Potter has a buy rating on Capitol Health Ltd (ASX: CAJ), a small-cap medical diagnostics business.

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Motley Fool contributor Owen Raskiewicz has no position in any stocks mentioned.

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