S&P/ASX 200 to fall: 8 shares to watch

The S&P/ASX 200 (Index: ^AJXO) (ASX: XJO) is expected to trade firmly lower following weak leads from international markets overnight.

Here’s a recap:

  • Dow Jones (USA): closed
  • NASDAQ (USA): closed
  • FTSE 100 (UK): down 0.42%
  • DAX (Germany): down 0.25%
  • EURO STOXX 50 (Europe): down 0.58%
  • Shanghai Composite (China): up 0.47%

US markets were closed yesterday for the Martin Luther King, Jr. public holiday. Meanwhile, on European markets, further oil supply concerns from Iran saw oil prices fall below $US28 a barrel to rattle markets. FTSE-listed shares of BHP Billiton Limited (ASX: BHP) and Rio Tinto Limited (ASX: RIO) again closed lower, down 1% and 0.86%, respectively.

Closer to home, the Sydney Futures Exchange is tipping a 31-point, or 0.6%, fall in the S&P/ASX 200.

Rio Tinto shares will be in focus. The world’s second-largest iron ore miner reported its fourth quarter production results today, showing an 11% increase in iron ore shipments, 13% drop in mined copper and 4% increase in bauxite.

Like its two domestic rivals, BHP and Fortescue Metals Group Limited (ASX: FMG), Rio Tinto’s share price has fallen heavily in recent times following major routs in commodity prices.

New Zealand’s Mighty River Power Ltd. (ASX: MYT) announced the acquisition of What Power Crisis (WPC), a leading solar energy business. SKYCITY Entertainment Group Limited-Ord (ASX: SKC) updated the market on its half-year expectations, saying its profit will be between 25% and 29% higher, year-over-year.

Yesterday evening, law firm Shine Corporate Ltd (ASX: SHJ) announced it is conducting a review of its profit expectations and forecast a “material” reduction to previous FY16 forecasts. National Australia Bank Ltd. (ASX: NAB) also released the key details of its long-awaited demerger of the Clydesdale and Yorkshire Banking Group yesterday evening.

Finally, toll road operator Transurban Group (ASX: TCL) released its quarterly traffic statistics showing a 16% increase in proportional toll revenue compared to the prior period.

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Motley Fool writer/analyst Owen Raszkiewicz does not have a financial interest in any company 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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