S&P/ASX 200 set to open lower: 9 shares to watch

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

Here’s a recap:

  • Dow Jones (USA): down 0.78%
  • NASDAQ (USA): down 1.13%
  • FTSE 100 (UK): down 0.90%
  • DAX (Germany): down 1.94%
  • CAC 40 (France): down 1.59%

In London, mining and resources shares sunk the market following poor economic data out of China. FTSE-listed shares of BHP Billiton Limited (ASX: BHP) and Rio Tinto Limited (ASX: RIO) fell 5% and 3.4%, respectively.

US markets played out a similar theme following China and then Europe’s lead. The financials, energy, and resources sectors were worst affected.

Closer to home, the Sydney Futures Exchange is tipping a 63-point, or 1.2% fall in the S&P/ASX 200.

Shares in focus will include those in mining and energy, such as BHP, Rio and Fortescue Metals Group Limited (ASX: FMG).

This morning, Fortescue announced the repayment of $US650 million of term loan debt. “This US$650 million, in conjunction with last week’s US$577 million, brings Fortescue’s total FY16 debt repayments to US$2.3 billion. This has generated annual interest savings of US$164 million,” Fortescue’s Chief Financial Officer, Stephen Pearce, said.

During its investor day presentation, Downer EDI Limited (ASX: EDI) confirmed its 2016 financial year net profit guidance of around $180 million.

Origin Energy Ltd (ASX: ORG) announced a “landmark” agreement with Fotowatio Renewable Ventures to purchase 100 MW of solar power from Clare Solar Farm in north Queensland as part of a 13-year deal.

Energy Resources of Australia Limited (ASX: ERA) delivered the outcomes of its strategic review saying it will continue to undertake rehabilitation works of the Ranger Project Area, maximise cash flow from stockpiled ore until late 2020 and keep the Ranger 3 Deeps facility in care and maintenance.

Computershare Limited (ASX: CPU) has been appointed by the UK Asset Resolution Securities Exchange to undertake its mortgage servicing activities.

Finally, in broker news, UBS analysts cut their Caltex Australia Limited (ASX: CTX) price target 2.2% to $34.80 while their Woolworths Limited (ASX: WOW) price target was also reduced 3.5% to $19.30, according to Dow Jones Newswires.

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Motley Fool Contributor Owen Raszkiewicz owns Computershare shares. Owen welcomes -- and encourages -- your feedback on Google+, LinkedIn or you can follow him on Twitter @ASXinvest.

The Motley Fool Australia owns shares of Computershare. 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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