Morning market movers: 10 stocks to watch

Following a slightly negative day of trading on international markets overnight, the local sharemarket is expected to open lower this morning.

After a slow start to the day, rising interest rate expectations saw the USA’s Dow Jones Industrial Average fall 0.17%. Meanwhile, UK and European stocks also closed lower.

Closer to home, the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) is expected to open in negative territory, with the Sydney Futures Exchange pointing to a 0.3% fall.

Credit business, FlexiGroup Limited (ASX: FXL) will be in focus after it announced the appointment of a new CEO yesterday afternoon.

Before RBA Governor Glenn Stevens is expected to speak at an Australian Business Economists dinner in Sydney, the ASX’s property stocks will also be in focus. Auction clearance rates around the country have been subdued for a number of weeks. Therefore, stock prices of property companies such as Mirvac Group (ASX: MGR) and Lend Lease Group (ASX: LLC) could come under pressure.

Harvey Norman Holdings Limited (ASX: HVN), Brickworks Limited (ASX: BKW) and Billabong International Limited (ASX: BBG) are expected to hold their Annual General Meetings today.

In infrastructure news, Transurban Group (ASX: TCL) is in a trading halt pending a capital raising to fund a “material acquisition”. The toll road owner expects to make its announcement and resume trading by the end of the week.

IPH Ltd (ASX: IPH), the intellectual property rights services business, is also in a trading halt as it plans to conduct an equity raising by way of a bookbuild.

In broker news, UBS expects Rio Tinto Limited (ASX: RIO) to maintain its dividend at $2.15 a share, according to Fairfax, while Hartleys is seeking a sign of improving momentum at mining services business, Decmil Group Limited (ASX: DCG).

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

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