The local S&P/ASX 200 (Index: ^AJXO) (ASX: XJO) is expected to open sharply higher following positive leads from foreign markets overnight.
Here's a recap:
- Dow Jones (USA) – up 1.06%
- NASDAQ (USA): up 0.90%
- FTSE 100 (UK): up 2.6%
- DAX (Germany) – up 2.28%
- EURO STOXX 50 (Europe) – up 2.25%%
In the US, a 3.8% jump in oil prices, to $US37.34 a barrel, and rebound in raw materials shares saw the Dow and NASDAQ finish the day firmly higher. In Europe, oil and mining shares may be among the worst performers this year, but a jump in key commodities saw them become Wednesday's biggest gainers.
FTSE-listed shares of BHP Billiton Limited (ASX: BHP) and Rio Tinto Limited (ASX: RIO) snapped back an impressive 5% and 6.13%, respectively.
Closer to home, the Sydney Futures Exchange is tipping a 72 point, or 1.4% jump in the S&P/ASX 200 at the open.
Resources shares such as Rio, BHP, Woodside Petroleum Limited (ASX: WPL), Santos Ltd (ASX: STO) and Oil Search Limited (ASX: ORG) will be in focus.
In company-specific news, Santa – or Macquarie Group Ltd (ASX: MQG) dressed as Santa – has come early for shareholders of the small-cap digital real-estate business, Onthehouse Holdings Ltd (ASX: OTH). In an ASX announcement this morning, Onthehouse confirmed it had received an unsolicited, non-binding, conditional and indicative proposal by a consortium led by Macquarie and CoreLogic Australia. The proposal is an all cash consideration of 75.5 cents per share or a 26.9% premium to yesterday's closing price.
In energy news, the GLNG project owners, including Santos Ltd, announced they had reached an agreement to supply 254 petajoules of gas to the project from AGL Energy Limited (ASX: AGL).
In broker news, Credit Suisse analysts have labelled Caltex Australia Ltd (ASX: CTX) shares an 'outperform' with a $40 price target, according to Fairfax Press.
The ASX will close at 2.10 pm today, and will remain closed Friday, 25 December 2015, and Monday, 28 December 2015.
