It was another turbulent night on Wall Street with the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) set to follow its international counterparts down further today.
Here’s a quick recap:
- FTSE 100 (UK): down 1.46%
- DAX (Germany): down 0.76%
- CAC 40 (France): down 1.48%
- Dow Jones (USA): down 4.6%
- NASDAQ (USA): down 3.78%
Local shares were hit hard on Monday. With the futures market pointing to another 139-point decline at the opening bell today, it’s likely to be another ugly day.
Among the companies in focus will be Resolute Mining Limited (ASX: RSG) and Orocobre Limited (ASX: ORE), which were among the market’s hardest-hit companies on Monday. The pair fell 9.5% and 7.3%, respectively.
The major banks will also be in focus; given their heavy weighting on the Australian market, how much they fall will play a key role in determining how far the indices themselves fall. Australia and New Zealand Banking Group (ASX: ANZ) was the worst-performer of the cohort on Monday, sliding 1.6%, with the four major banks all closing between 1.2% and 1.6% lower.
The CBL CORP FPO NZX (ASX: CBL) share price will not move today after they were suspended from official quotation at the request of the company. The suspension is pending the release of announcement regarding a proposed capital raising.
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Motley Fool contributor Ryan Newman has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of CBL Limited. The Motley Fool Australia has recommended ARB Limited and Brickworks. 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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