Energy stocks may finally catch a break with the price of oil bouncing from a six-month low although the rest of the market is likely to return most of yesterday's gains this morning.
The futures market is pricing in a 0.2% fall for the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) at the open after the index rose a third of a percentage point on Tuesday.
But at least shareholders in Santos Ltd (ASX: STO) and Oil Search Limited (ASX: OSH) will breathe a sigh of relief as the West Texas Intermediate (WTI) oil price broke a three-session losing streak and rebounded 1.3% to $US45.74 a barrel.
A report on Bloomberg that one of China's largest gold producers Zijin Mining Group is planning on making more acquisitions after a $US1 billion buying spree could also support sentiment towards our smaller gold miners like Regis Resources Limited (ASX: RRL) and Beadell Resources Ltd (ASX: BDR).
The Chinese are looking to do deals and that's not confined to gold. Iron ore producer Fortescue Metals Group Limited (ASX: FMG) is reported to have been approached by Hebei Iron & Steel and Tewoo Group to sell a stake in its infrastructure.
On the earnings front, Bunnings Warehouse landlord BWP Trust (ASX:BWP) is expected to post its full year result and lenders mortgage insurer Genworth Mortgage Insurance Australia (ASX: GMA) will hand in its half-year report card today.
Labour hire company Skilled Group Ltd. (ASX: SKE) is also scheduled to release its full year earnings and that should give shareholders a better idea of whether they've got a good deal from the takeover offer made by Programmed Maintenance Services Limited (ASX: PRG).
In the agriculture space, beef producer Australian Agricultural Company Ltd (ASX: AAC) could find support after analysts at Australia and New Zealand Banking Group (ASX: ANZ) said that high cattle prices are sustainable.
On the flipside, a plunge in milk powder prices due to a global glut could send FONTERRA ORD UNIT (ASX: FSF) falling to a record low.
Elsewhere, shipbuilder Austal Limited (ASX: ASB) has delivered the first of two high speed ferries to the Abu Dhabi National Oil Company and online international payment company Ozforex Group Ltd (ASX: OFX) will hold its annual general meeting in Sydney today.
Payday lenders Cash Converters International Ltd (ASX: CCV) and Money3 Corporation Limited (ASX: MNY) are likely to come under renewed pressure after Westpac Banking Corp (ASX: WBC) said it would stop lending money to the industry. Cash Converters is facing a class action lawsuit over its fees for personal short-term loans.
