Morning Market Movers: 10 stocks to watch

The local share market is expected to open the day lower, following weaker leads from Wall Street overnight.

In the US, the Dow Jones and NASDAQ fell 0.89% and 0.64%, respectively, as a 4.23% drop in Brent crude oil weighed on energy stocks. In Europe, London’s FTSE 100 crept 0.4% higher, while the EURO STOXX 50 Index fell 0.32%.

Despite a 2.63% drop in iron ore prices to $US41.13 per tonne, according to The Metal Bulletin, FTSE-listed shares of BHP Billiton Limited (ASX: BHP) rose 0.21%. Rio Tinto Limited (ASX: RIO) fell 0.2%.

Closer to home, the local S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) is poised to open 1% lower.

BHP shares, which are down 39% in 12 months, will be in focus after analysts at Australia’s leading investment bank, Macquarie Group Ltd (ASX: MQG), put an ‘outperform’ rating on the embattled miner’s shares, according to FNArena. BHP has been grappling with falling commodity prices and negative press from a recent tailings dam wall collapse in Brazil.

Santos Ltd (ASX: STO) shares will also be closely watched today following a successful capital raising yesterday. Meanwhile, Spotless Group Holdings Ltd (ASX: SPO) fell 38% yesterday on the back of an ASX announcement detailing a bleak trading update.

This morning, apartment developer Finbar Group Limited (ASX: FRI) announced it received approval for a development in Perth, worth $160 million.

Agriculture business Nufram Limited (ASX: NUF) is scheduled to hold its Annual General Meeting today.

In broker news, Morgans rates Select Harvests Limited (ASX: SHV) as an ‘add’; Citi believes Caltex Australia Limited (ASX: CTX) is a ‘buy; and Credit Suisse thinks Treasury Wine Estates Ltd (ASX: TWE) is a hold, according to FNArena.

Our BEST dividend stock pick - FREE!

If you're after fat, fully franked dividends, you won't want to miss this: The Motley Fool has just issued a brand-new report, complete with all the details on our expert analysts' #1 dividend stock for 2015-2016. Simply, click here now for your FREE copy, including the name and code!

Motley Fool contributor Owen Raszkiewicz 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.