The Australian Dollar ($A) plunged against the US greenback overnight, with one Australian dollar now fetching just US75.27 cents. That could have an impact on the share prices of some businesses, although the futures market still suggests the ASX 200 will decline when the opening bell rings.
Here's a quick recap:
- FTSE 100 (UK): down 0.06%
- DAX (Germany): up 0.01%
- CAC 40 (France): up 0.11%
- Dow Jones (USA): down 0.13%
- NASDAQ (USA): up 0.06%
A lot of ASX-listed businesses, including Cochlear Limited (ASX: COH), Westfield Corp Ltd (ASX: WFD) and ResMed Inc. (CHESS) (ASX: RMD), generate a large portion of their earnings overseas. As a result of the fall in the AUD, investors may take a further look into these businesses today.
It was a bad night for commodity markets. While Newcrest Mining Limited (ASX: NCM) and the other gold miners could suffer from another 0.5% dip in the gold price, the iron ore miners and energy producers could have more to worry about.
Overnight, the iron ore price dropped 2.9% to US$87.19 a tonne, according to The Metal Bulletin, with Brent oil down 3.8%. That could weigh on businesses such as BHP Billiton Limited (ASX: BHP), Rio Tinto Limited (ASX: RIO), Fortescue Metals Group Limited (ASX: FMG) and Santos Ltd (ASX: STO).
Meanwhile, Spark New Zealand Ltd (ASX: SPK) confirmed that it is making a formal offer to acquire TeamTalk at a price of NZ$0.80 per share which represents a whopping 82% premium to the company's three-month volume weighted average price.
Before getting started on your day, be sure to check out these two articles: