The S&P/ASX 200 (Index: ^AJXO) (ASX: XJO) is expected to trade higher following mixed leads from international markets on Friday.
Here's a recap:
- Dow Jones (USA): up 0.32%
- NASDAQ (USA): down 0.12%
- FTSE 100 (UK): down 0.69%
- DAX (Germany): down 0.25%
- EURO STOXX 50 (Europe): down 0.20%
- Shanghai Composite (China): down 5.33%
In the US, shares tossed and turned from positive to negative and back again throughout trading, shrugging off losses on the Shanghai Composite yesterday. Alcoa Inc., a world leader in lightweight metals technology, kicked off US corporate earnings season showing a fourth-quarter loss of $US500 million, largely a result of a restructuring cost and falling aluminum and alumina prices.
In Europe, shares were unable to buck the trend of falling prices. Germany's DAX is down 8.54% for the year, so far. FTSE-listed shares of BHP Billiton Limited (ASX: BHP) and Rio Tinto Limited (ASX: RIO) fell 0.26% and 2.42%, respectively, overnight.
Closer to home, the Sydney Futures Exchange is tipping a 13-point, or 0.2% rise in the S&P/ASX 200.
Shares of Aluminia Limited (ASX: AWC), which owns 40% of Alcoa World Alumina and Chemicals (AWAC) will be in focus today.
So too will shares of WHITEHAVEN COAL LIMITED (ASX: WHC) after the company reaffirmed guidance of EBITDA (earnings before interest, tax, depreciation and amortization) of between $100 million and $105 million for the first half of its 2016 financial year.
Uranium miner, Energy Resources of Australia Limited (ASX: ERA) said it plans to update the market with a strategic review this quarter. The miner's Ranger 3 Deeps mine remains on care and maintenance.
In broker news, Bell Potter has placed a buy rating on Commonwealth Bank of Australia (ASX: CBA), and Macquarie analysts cut their Origin Energy Limited (ASX: ORG) price target by 3.6% to $5.35, according to Dow Jones Newswires.
