It was another disappointing day of trade for the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) on Tuesday. The benchmark index finished the day over 1% lower at 5,843.1 points.
Will the market be able to bounce back on Wednesday? Here are five things to watch:
ASX futures flat.
According to the latest SPI futures, the Australian share market is expected to open the day flat on Wednesday. This isn't a bad result for local investors considering the disappointing night of trade on Wall Street which saw the Dow Jones fall 0.5%, the S&P 500 fall 0.55%, and the Nasdaq drop 0.4%. Things had been far worse for U.S. markets in early trade but a late rally narrowed declines.
Oil prices sinking.
Energy producers such as Beach Energy Ltd (ASX: BPT) and Santos Ltd (ASX: STO) are likely to see their shares come under pressure today after oil prices fell heavily overnight. According to Bloomberg, the WTI crude oil price fell 4.3% to US$66.39 a barrel and the Brent crude oil price tumbled 4.3% to US$76.41 a barrel. News that Saudi Arabia has pledged to produce as much oil as it can sent prices tumbling.
Bellamy's annual general meeting.
All eyes will be on the Bellamy's Australia Ltd (ASX: BAL) annual general meeting in Launceston today. The infant formula company's shares have come under significant pressure in the last couple of months amid concerns over slowing growth and delays to its CFDA accreditation. The market is expecting an update on both.
More annual general meetings.
It isn't just Bellamy's holding its annual general meeting today. Recreational vehicle company Apollo Tourism & Leisure Ltd (ASX: ATL), property group Stockland Corporation Ltd (ASX: SGP), gold producer St Barbara Ltd (ASX: SBM), and retail conglomerate Super Retail Group Ltd (ASX: SUL) are also holding meetings and expected to provide trading updates.
Bank of Queensland shares go ex-dividend.
The Bank of Queensland Limited (ASX: BOQ) share price is likely to trade lower again on Wednesday after going ex-dividend for its fully franked final 38 cents per share dividend. Eligible shareholders can look forward to receiving this dividend in their nominated accounts on November 14. The shares of airline operator Regional Express Holdings Ltd (ASX: REX) are also going ex-dividend this morning.
