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

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

Here’s a recap:

  • FTSE 100 (UK): down 1.16%
  • DAX (Germany): down 1.8%
  • CAC 40 (France): down 1.85%
  • Dow Jones (USA): down 0.74%
  • NASDAQ (USA): down 0.94%

In London, concerns over Brexit appeared to weigh on sentiment, with broad based selling in most European markets. FTSE-listed shares of BHP Billiton Limited (ASX: BHP) and Rio Tinto Limited (ASX: RIO) finished 0.39% and 0.45% lower, respectively.

US markets followed Europe’s lead in trending lower despite pundits forecasting Brexit to have little impact on American markets over the long-term. Notably, shares of LinkedIn Corp jumped 46% following a takeover offer from Microsoft.

Closer to home, the Sydney Futures Exchange is tipping a 40-point, or 0.7%, fall in the S&P/ASX 200.

Shares in focus will include Newcrest Mining Limited (ASX: NCM). This morning, the gold miner announced it recommenced production at the Kencana mine. Full production is not expected for two months.

MMA Offshore Ltd (ASX: MRM) released a trading update revealing the offshore oil and gas vessel market “continues to remain under significant pressure”. As a result, 2016 operating profit is now expected to be slightly below previously stated guidance.

Tawawood Limited (ASX: TWD) said favourable conditions with council and finance approvals had enabled the group to announce a profit increase of between 20% and 25% for the 11 months ended May 2016. The company said it increased its directors’ fees and the managing director’s base salary by 5.8%.

IMF Bentham Ltd (ASX: IMF) announced its wholly owned subsidiary, Bentham Capital LLC, agreed to fund a further matter in the United States with an initial claim value of $25 million.

Nuplex Industries Ltd (ASX: NPX) said a court had approved the convening of a special meeting to vote on the Allnex proposal.

Mesoblast Limited (ASX: MSB) announced its partner in the MPC technology platform for the cardiovascular field, Teva, has concluded works with the company.

Finally, in broker news:

  • Macquarie analysts raised their Origin Energy Ltd (ASX: ORG) price target 45% to $6.63; and
  • Deutsche Bank analysts cut their Wellard Ltd (ASX: WLD) price target 39% to $1, according to Dow Jones Newswires.

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Motley Fool Contributor Owen Raszkiewicz does not have a financial interest in any company mentioned in this article. You can follow Owen on Twitter @ASXinvest.

The Motley Fool Australia's parent company Motley Fool Holdings Inc. owns shares of LinkedIn and Microsoft. Motley Fool contributor Owen Raszkiewicz has no position in any 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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