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Morning Market Movers: 10 stocks to watch

The local share market is expected to open trading lower today, following mixed results from international markets overnight.

In the US, the Dow Jones closed 0.08% lower, while the NASDAQ ended 0.22% higher. In Europe, London’s FTSE 100 and the EURO STOXX 50 indices closed 0.28% lower. FTSE-listed shares of BHP Billiton Limited (ASX: BHP) continued their recent decline, falling 1.3%.

Further economic concerns out of China saw iron ore prices fall 3.44% to $US42.97 per tonne, according to The Metal Bulletin. FTSE-listed shares of Rio Tinto Limited (ASX: RIO) ended 0.7% lower.

Closer to home, the Sydney Futures Exchange is pointing to a two-point fall in the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO).

Shares of struggling retailer Dick Smith Holdings Ltd (ASX: DSH) fell 58% yesterday after announcing it’d be required to take a $60 million impairment charge against its assets.

Meanwhile, Slater & Gordon Limited (ASX: SGH) will again be in focus as the embattled legal eagle’s share price attempts to recover significant losses over the past month.

The Fortescue Metals Group Limited (ASX: FMG) share price could also come under pressure in today’s trading as a result of China’s uncertainty. Fortescue’s Chinese iron ore customers account for 94% of its revenue.

Major bank stocks such as Westpac Banking Corp (ASX: WBC) and Commonwealth Bank of Australia (ASX: CBA) will also be in focus, with the RBA’s official interest rate decision due out this afternoon. The RBA’s building approvals figures, September’s balance of payments and RP Data Core Logics Home Value Index are also scheduled to be released.

Yesterday evening, TFS Corporation Ltd (ASX: TFC) announced its three-month unaudited results for the period ended 30 September 2015. The Indian Sandalwood producer announced a 30.6% jump in product sales year-over-year but a $21 million drop in operating cash flow, to negative $29.5 million.

In broker news, according to FN Arena, Yowie Group Ltd (ASX: YOW) was initiated as a buy from analysts at Morgans, and analysts at Credit Suisse upgraded Fisher & Paykel Healthcare Corp Ltd (ASX: FPH) shares from underperform to neutral.

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Motley Fool contributor Owen Raskiewicz owns shares of Slater & Gordon Limited and Yowie Group Ltd..

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.

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