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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.

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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.

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