The local sharemarket is expected to open firmly in the green following positive results from global markets overnight.
Here's a recap:
- Dow Jones (USA) – up 0.90%
- NASDAQ (USA): up 0.87%
- FTSE 100 (UK): up 2.45%
- DAX (Germany) – up 3.07%
- EURO STOXX 50 (Europe) – up 3.26%
US shares continued Monday's rebound as oil prices recovered to trade higher, at $US38.86, according to Fairfax Press, and inflation data boosted optimism in the world's largest economy ahead of the impending Federal Reserve interest rate decision tomorrow.
In European markets, shares pulled back losses from earlier in the week to trade firmly higher. A rebound in commodity prices sent FTSE-listed shares of Rio Tinto Limited (ASX: RIO) and BHP Billiton Limited (ASX: BHP) up 1.9% and 2.7%, respectively.
Closer to home, the Sydney Futures Exchange is tipping a 1.1% jump in the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) at the open.
Shares of Santos Ltd (ASX: STO), Woodside Petroleum Limited (ASX: WPL) and Oil Search Limited (ASX: OSH) have suffered heavy falls in recent weeks. Investors will hope a rebound in oil prices will bring some reprieve.
In company-specific news, Flight Centre Travel Group Ltd (ASX: FLT) announced the $US28 million acquisition of US travel business, Travelonomy; FONTERRA ORD UNIT (ASX: FSF) will sell its Australian yoghurt and dairy dessert business to Parmalat Australia Pty Ltd; Domino's Pizza Enterprises Ltd. (ASX: DMP) has formed a joint venture to buy German pizza chain, Joey's Pizza, for $79 million; and Starpharma Holdings Limited (ASX: SPL) has entered an agreement which will enable it to sell condoms to the Chinese state.
Meanwhile, Ten Network Holdings Limited (ASX: TEN) and DuluxGroup Limited (ASX: DLX) are expected to host their Annual General Meetings (AGMs), according to AAP.
In broker news, analysts at Macquarie Group have cut their price target on Primary Health Care Limited (ASX: PRY) 17% to $2.50.
