The local S&P/ASX 200 (Index: ^AJXO) (ASX: XJO) is expected to open higher following positive leads from US markets overnight.
Here's a recap:
- Dow Jones (USA) – up 0.72%
- NASDAQ (USA): up 0.93%
- FTSE 100 (UK): down 0.29%
- DAX (Germany) – down 1.04%
- EURO STOXX 50 (Europe) – down 1.46%
In the US, technology companies led markets higher, with shares of Apple, Microsoft and Alphabet Inc (formally Google) all ending in positive territory.
However, a 1.7% fall in Brent crude oil to $US36.27 a barrel overnight took the total decline in prices to 19% this month, and means oil prices are now at their lowest level in 11 years, according to the Fairfax Press.
In Europe, energy companies weighed on markets. FTSE-listed shares of Rio Tinto Limited (ASX: RIO) and BHP Billiton Limited (ASX: BHP) closed mostly flat.
Closer to home, the Sydney Futures Exchange is tipping a 20-poiunt jump from the S&P/ASX 200.
Shares of Asciano Ltd (ASX: AIO) and Qube Holdings Ltd (ASX: QUB) will be in focus after the Australian Competition and Consumer Commission (ACCC) said it would consult the market on the proposed takeover of Asciano by a consortium led by Brookfield Infrastructure Partners LP. Rail and ports business, Qube, has also entered a bid for Asciano.
After the announcement of the resignation of Crown Resorts Ltd (ASX: CWN) director, James Packer, shares of the casino and resorts operator will again be in focus.
So too will shares of accounting software providers Reckon Limited (ASX: RKN) and MYOB Group Ltd (ASX: MYO). According to The Australian, speculation may be mounting for MYOB to launch a takeover offer for Reckon.
In broker news, Qantas Airways Limited (ASX: QAN) has been given an outperform rating by analysts at Credit Suisse, and Macquarie analysts lifted their price target on Corporate Travel Management Ltd (ASX: CTM) shares to $12.50, from $11.77, according to Dow Jones Newswires.
