Eclipx shares are up 23 per cent to 70 cents, recovering from the previous two sessions of substantial declines. Eclipx released a market updated this morning confirming it is within debt covenant limits and remains supported by its six financiers. Eclipx has net debt of $284 million.

The company says it has received several offers for its Grays and Right2Drive businesses and has officially put them up for sale. The proceeds will be used to repay that $284 million debt. It is setting up a transformation office to find $20 million of savings and handle the sale of Right2Drive and Grays.

Eclipx has also cancelled its dividend and will test the carrying value of good will as part of its half year accounts. (It's half year ends 31 March with results released in May). Revenue from its fleet and novated business is up slightly in the five months to February, compared to the same period in 2018, adjusted for accounting changes.

Click Energy, which is owned by Amaysim, has been hit with a $900,000 penalty by the competition watchdog for misleading consumers about the size of potential savings. Amaysim shares are up 0.8 per cent to 63.5 cents in early trading.

"The quantum of the penalty was anticipated by the company in its 2019 half-year accounts and will be reflected in the statutory results for the FY19 full year. The penalty does not impact the company's full year underlying earnings before interest, depreciation and amortisation guidance." Amaysim expects earnings of between $44 million and $48 million.

"We are please to have this matter behind us," chief executive Peter O'Connell told the market today.

"It largely relates to legacy Click Energy products which have not been offered to the public for quite some time and we worked expeditiously at the time to address the ACCC's concerns."

The S&P/ASX 200 has dropped 13 points on opening to 6117. Trading is very heavy in Lynas Corp, which is down 1.4 per cent to $2.07. Bear in mind it gained 35 per cent yesterday.

Early leaders include Challenger, which is up 4 per cent to $8.26, and Beach Energy is up 3.3 per cent to $2.06.

Early losers are Viva Energy with a 2.8 per cent drop to $2.41 and Unibail-Rodamco is down 2.8 per cent to $11.71. But the point are being taking off by Newcrest Mining's 2 per cent drop to $25.47 and Westpac's 0.4 per cent drop to $25.87.

Lynas' board says it will not engage with Wesfarmers based on the terms outlined in yesterday's $1.5 billion offer.

"In coming to this conclusion, the Board has drawn on the Company's extensive knowledge of stakeholder interests, and current market and operating conditions. It has also consulted with its advisers on the terms of the proposal, and validated its view as to value," the company told shareholders this morning.

Lynas says it has strong, irreplaceable assets including being the only significant rare earths miner and processor outside China, its Mt Weld asset, and six years worth of in-house capability and knowledge.

"The board will continue to maximise shareholder value by fully realising the Company's skills and assets."

Morgans have downgraded their earnings forecast for Domain Holdings, but retains a 'hold' rating, and they are now expecting to see full year earnings of $357.5 million, compared to a previous forecast of $369.3 million. And post-tax profit is now expected to be $44 million for 2018-19 compared to a previous forecast of $52.2 million, with dividends falling from 7 cents to 6.4 cents. Forecasts for the following four years have also been reduced, which lowers Morgan's Domain target price from $2.31 to $2.25. Domain closed at $2.48 on Tuesday.

"We are lowering our Domain forecasts and valuation to reflect the tough market for new "for sale" listings in the key state capitals of Sydney and Melbourne," analyst Ivor Ries wrote in a note to clients.

"CoreLogic reported that new for sale listings for the rolling 28-day period ended 17 March wer edown 20.9 per cent and 14.5 per cent in Sydney and Melbourne respectively...Domain has an above-average revenue exposure to the Sydney market."

Mr Ries estimates ads for houses in Sydney account for up to 50 per cent of Domain's revenues. Domain is majority owned by Nine Entertainment Company, which publishes this blog.

Macquarie Group says it expects its full year results to be 15 per cent higher than the 2017-18 year in today's presentation to the Credit Suisse Asian Investment Conference.

"While the impact of future market conditions makes forecasting difficult, we currently expect an increase of up to 15 per cent in the FY19 result compared with the FY18 result."

Macquarie shares last traded at $125.50.

IG MARKETS SPONSORED POST

SPI futures down 3 points to 6112 at 5.50am AEDT

AUD +0.4% to 71.41 US cents
On Wall St at 12.52pm: Dow +0.4% S&P 500 +0.6% Nasdaq+0.6%
In New York at 12.41pm: BHP +1.2% Rio +1.2% Atlassian +1.8%
In Europe: Stoxx 50 +0.6% FTSE +0.3% CAC +0.9% DAX +0.6%
Spot gold -0.5% to $US1315.71 an ounce
Brent crude +0.7% to $US67.87 a barrel
US oil +1.1% to US$59.92 a barrel
Iron ore -0.7% to US$85.23 a tonne
Dalian iron ore +0.2% to 615 yuan
LME aluminium +0.2% to $US1886 a tonne
LME copper -0.2% to $US6330 a tonne.
2-year yield: US 2.28% Australia 1.51%
5-year yield: US 2.21% Australia 1.49%
10-year yield: US 2.43% Australia 1.82% Germany 0.02%
US-Australia 10-year yield gap: 61 basis points

IG MARKETS SPONSORED POST

It was a buy the dip day yesterday, judging by price action in global risk-assets. As has been the theme this week, there wasn't any meaningful macro-news to change market participants behaviour. So: an explanation for the (almost) universally solid day for global equities ought to be chalked-up to internal market mechanics. What this may imply for the longer run is a touch obscure.

This market is trading much in the way a plane rights-itself after some brief, but heavy turbulence. Some rough times must surely lie ahead once again, if not for the simple matter that fundamentals haven't changed. Market participants will therefore remain glued to any developments that may reveal new truths about global growth.

There weren't any such stories out last night. Outside the echoes of last week's dovish Fed-tilt, European growth concerns, and talk of inverted yield curves, voices portending doom in financial markets were apparently much quieter. Ever the experts in hindsight, the collective wisdom of market participants seemed more interested in rationalizing away their previously held fears.

As it relates to the ASX200, some late buying on Wall Street has translated into SPI Futures pricing in a flat start for the index today. Early indications are that Australian stocks will go without the broad-based buying that drove Wall Street activity overnight.

Good morning and welcome to today's Markets Live blog.

Your editor today is Lucy Battersby (lbattersby@theage.com.au).

This blog is not intended as financial advice.