On the back of strong gains in US and European stock markets overnight, the local market is expected to start the day higher.
Despite the Paris attacks at the weekend, European shares showed resilience with the CAC 40 marginally lower and the FTSE 100 closing 0.5% higher. US shares were led higher by gains in the energy and telecom sectors.
London-listed shares of BHP Billiton Limited (ASX: BHP) and Rio Tinto Limited (ASX: RIO) closed 1.6% higher and 1% lower, respectively. BHP's share price gains came despite mounting speculation the world's largest miner will be forced to slash its progressive dividend policy in the wake of plunging commodity prices.
Overnight, iron ore prices fell 0.8% to $US47.74 per tonne, according to The Metal Bulletin. Gold fell 0.2%, while crude oil rose 0.3%.
Closer to home, the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) is expected to climb 52 points at the open.
Commonwealth Bank of Australia (ASX: CBA), Nine Entertainment Co Holdings Ltd (ASX: NEC), Ainsworth Game Technology Limited (ASX: AGI) and Specialty Fashion Group Ltd. (ASX: SFH) are scheduled to hold their Annual General Meetings (AGMs) today.
Ruralco Holdings Ltd (ASX: RHL), the diversified agribusiness, released its 2015 annual report this morning, showing profits up a healthy 33% to $14.1 million. Meanwhile, AusNet Services (ASX: AST) swung to a half-year profit of $374 million from a $4.9 million loss this time last year.
Embattled supermarket operator, Woolworths Limited (ASX: WOW), announced the appointment of a new director to its board. Fletcher Building Limited (Australia) (ASX: FBU) said it expects strong market conditions in New Zealand and a mixed outlook for the Australian market over its 2016 financial year, but forecast a robust profit performance.
Credit Suisse slapped Super Retail Group Ltd (ASX: SUL) shares with an underperform rating, while Deutsche Bank put a buy rating on shares of Programmed Maintenance Services Limited (ASX: PRG).
