S&P/ASX 200 set to open flat: 7 shares to watch

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

Here’s a recap:

  • FTSE 100 (UK): up 1.19%
  • DAX (Germany): up 0.85%
  • CAC 40 (France): up 0.98%
  • Dow Jones (USA): down 0.33%
  • NASDAQ (USA): down 0.92%

In London, bank shares lifted the market as concerns over the looming Brexit vote appeared to ease. FTSE-listed shares of BHP Billiton Limited (ASX: BHP) and Rio Tinto Limited (ASX: RIO) finished 2.9% and 2.6% higher, respectively.

US markets finished lower despite Europe’s positive lead. The technology sector weighed on the market’s sentiment after a Chinese regulator barred Apple Inc from selling its iPhone 6 and iPhone 6 Plus in Beijing, according to CNBC. The Dow closed 1.07% lower for the week.

Closer to home, the Sydney Futures Exchange is tipping a flat start from the S&P/ASX 200.

Shares in focus will include Metcash Limited (ASX: MTS). This morning, the independent supermarket operator and owner of Mitre 10 announced its 2016 full-year results revealing a 1.3% increase in group sales and a net profit of $216.5 million.

Also this morning, Sydney Airport Holdings Ltd (ASX: SYD) released its monthly traffic statistics for May showing a 5.2% increase in traffic year-over-year.

Syrah Resources Ltd (ASX: SYR) announced the successful completion of its $194 million capital raising.

ERM Power Ltd (ASX: EPW) confirmed operating profit guidance between $81 million and $85 million for its 2016 financial year. Further, its final dividend is expected to remain at current levels.

Finally, in broker news:

  • Credit Suisse analysts raised their Graincorp Ltd (ASX: GNC) price target 7% to $9;
  • Macquarie analysts cut their SAI Global Limited (ASX: SAI) price target 9.3% to $3.63; and
  • Morgan Stanley analysts raised their NIB Holdings Limited (ASX: NHF) price target 20% to $3.95, according to Dow Jones Newswires.

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Motley Fool Contributor Owen Raszkiewicz owns shares of NIB Holdings. You can follow Owen on Twitter @ASXinvest.

The Motley Fool Australia's parent company Motley Fool Holdings Inc. owns shares of Apple and has the following options: long January 2018 $90 calls on Apple and short January 2018 $95 calls on Apple. 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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