The S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) is expected to open slightly lower this morning following a mixed night for international equity markets.
Here’s a quick recap:
- FTSE 100 (UK): up 0.35%
- DAX (Germany): down 0.35%
- CAC 40 (France): down 0.1%
- Dow Jones (USA): down 0.04%
- NASDAQ (USA): up 0.03%
Wellard Ltd (ASX: WLD) will likely come under some pressure today. The group announced this morning that it expects its trading losses for the second half to be ‘significantly higher’ than the $16 million loss reported during the first half.
Cimic Group Ltd (ASX: CIM), on the other hand, announced a solid performance for the six months ended 30 June 2017, including a significant increase in net profit and cash flows. Revenue grew 28% year-on-year while its net profit of $323 million was up 22% year-on-year.
Conditions could be mixed in the resources space. On the one hand, gold and iron ore rose 0.5% and 1.6% respectively, which could help to support shares such as Fortescue Metals Group Limited (ASX: FMG) and Northern Star Resources Ltd (ASX: NST).
Finally, Rio Tinto Limited (ASX: RIO) reported its second-quarter production results. Pilbara iron ore shipments and production were both higher than the prior quarter, but down 6% and 1% respectively from the year-ago period.
Before getting started on your day, be sure to check out these two articles:
- Top broker picks 6 stocks to own as interest rate rises
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Motley Fool contributor Ryan Newman has no position in any stocks mentioned. 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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