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 1.1%
- NASDAQ (USA): up 1.33%
- FTSE 100 (UK): up 0.96%
- DAX (Germany) – up 1.94%
- EURO STOXX 50 (Europe) – up 1.77%
In the US, shares rallied higher to push the S&P 500 into positive territory for the 2015 calendar year. In Europe, shares shrugged off a bleak outlook for many key commodities to rise firmly despite modest volumes. FTSE-listed shares of BHP Billiton Limited (ASX: BHP) and Rio Tinto Limited (ASX: RIO) closed 0.5% and 1.5% lower, respectively.
Closer to home, the Sydney Futures Exchange is tipping a 25-point or 0.5% rise in the S&P/ASX 200 this morning.
With relatively little news flow during the Christmas-New Year period, shares in focus today will include health foods and wellness product producers such as A2 MILK FPO NZ (ASX: A2M), Bellamy's Australia Ltd (ASX: BAL), Bega Cheese Ltd (ASX: BGA), Blackmores Limited (ASX: BKL) and Freedom Foods Group Ltd (ASX: FNP). All five companies' share prices are up anywhere between 17.5% and 103% in the past month as hoards of investors sought to lock in exposure to companies with leverage to Chinese demand for Australian foodstuffs.
In broker news, Deutsche Bank has a price target of $9.15 on shares of Graincorp Ltd (ASX: GNC) and a 'buy' rating; meanwhile, Macquarie slapped an 'outperform' rating on shares of Incitec Pivot Ltd (ASX: IPL), according to the Fairfax Press.
