The local share market is expected to open the day lower following selloffs in global markets overnight.
Here's a recap:
- Dow Jones (USA) – down 0.43%
- NASDAQ (USA): down 1.48%
- FTSE 100 (UK): down 0.14%
- DAX (Germany) – down 0.76%
- EURO STOXX 50 (Europe) – down 0.61%
The Dow and NASDAQ closed lower as a selloff in technology and oil stocks took their toll on the indices. Shares of Apple and Alphabet (formally, Google Inc) fell into the red.
In Europe, a stabilisation of raw material prices (including iron ore) saw FTSE-listed shares of Rio Tinto Limited (ASX: RIO) and BHP Billiton Limited (ASX: BHP) stage a modest recovery.
Closer to home, the Sydney Futures Exchange is pointing to a 38-point fall in the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO).
Shares of mining and energy producers, such as Rio Tinto, BHP, Fortescue Metals Limited (ASX: FMG), Woodside Petroleum Limited (ASX: WPL) and Santos Ltd (ASX: STO); have had a very volatile week and will be in focus again today.
In company-specific news, FONTERRA ORD UNIT (ASX: FSF), a global leader in the production and distribution of milk, maintains its forecast Farmgate Milk Price of $4.60 per kgMS.
Gold miner Northern Star Resources Ltd (ASX: NST) announced results from recent drilling at its Central Tanami project. Junior telecommunications and computer retailer, Vita Group Limited (ASX: VTG), said its strong network of Telstra retail stores will underpin an operating profit result of between $25.5 million and $27.5 million for the six months to 31 December 2015.
Tabcorp Holdings Limited (ASX: TAH) and News Corp's (ASX: NWS) UK office have signed an agreement to partner in the launch of a new online wagering and gaming business.
In broker news, Deutsche Bank cut its Spotless Holdings Group Ltd (ASX: SPO) price target 2.5% to $1.93 per share, according to Dow Jones Newswires.
