Morning market movers: 11 stocks to watch

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.

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

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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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