MENU

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).

FORGET DECMIL! Here's our BEST dividend stock idea

Scott Phillips, lead advisor of Motley Fool Share Advisor, has just announced his #1 dividend stock of 2015-2016 - and I think it is a GREAT BUY today! Best of all, for a limited time, Scott is giving away its name and stock code free in his brand-new investment report! Simply click here, enter your email address and we'll send you his report.

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

Owen welcomes your feedback on Google plus (see below), LinkedIn or you can follow him on Twitter @ASXinvest.

Unless otherwise noted, the author does not have a position in any stocks mentioned by the author in the comments below. 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.

Two New Stock Picks Every Month!

Not to alarm you, but you’re about to miss a very important event! Chief Investment Advisor Scott Phillips and his team at Motley Fool Share Advisor are about to reveal their latest official stock recommendation. The premium “buy alert” will be unveiled to members and you can be among the first to act on the tip.

Don’t let this opportunity pass you by – this is your chance to get in early!

Simply enter your email now to find out how you can get instant access.

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.